DocuSign, Inc. (NASDAQ:DOCU) Short Interest Update

DocuSign, Inc. (NASDAQ:DOCU) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 14,350,000 shares, a decrease of 6.8% from the October 15th total of 15,390,000 shares. Based on an average daily trading volume, of 3,210,000 shares, the days-to-cover ratio is currently 4.5 days.

DocuSign Stock Performance

DOCU stock opened at $79.40 on Monday. The firm has a market cap of $16.12 billion, a PE ratio of 16.69, a PEG ratio of 8.37 and a beta of 0.90. The firm’s 50 day moving average price is $67.05 and its 200-day moving average price is $59.52. DocuSign has a one year low of $42.12 and a one year high of $83.68.

DocuSign (NASDAQ:DOCU) last posted its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million during the quarter, compared to the consensus estimate of $727.20 million. During the same quarter last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts predict that DocuSign will post 1.01 EPS for the current fiscal year.

Analyst Ratings Changes

DOCU has been the subject of a number of analyst reports. Bank of America upped their target price on DocuSign from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a report on Thursday, September 5th. Citigroup increased their price objective on DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada raised their target price on DocuSign from $52.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Friday, September 6th. Finally, Robert W. Baird increased their price target on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.40.

Insider Activity

In related news, CEO Allan C. Thygesen sold 7,764 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $69.95, for a total value of $543,091.80. Following the transaction, the chief executive officer now owns 107,825 shares of the company’s stock, valued at $7,542,358.75. This represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 9,552 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $68.80, for a total value of $657,177.60. Following the completion of the transaction, the chief financial officer now directly owns 78,265 shares in the company, valued at approximately $5,384,632. This trade represents a 10.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,558 shares of company stock valued at $4,272,768. 1.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DocuSign

Several institutional investors have recently modified their holdings of the business. State Street Corp grew its position in shares of DocuSign by 2.3% in the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company’s stock valued at $333,604,000 after buying an additional 120,743 shares during the last quarter. American Century Companies Inc. increased its holdings in DocuSign by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 4,099,400 shares of the company’s stock valued at $219,318,000 after acquiring an additional 75,026 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of DocuSign by 18.3% during the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company’s stock worth $199,518,000 after buying an additional 576,414 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company’s stock worth $188,318,000 after buying an additional 1,541,816 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company’s stock worth $215,789,000 after buying an additional 53,554 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.