DocuSign, Inc. (NASDAQ:DOCU) Short Interest Down 5.4% in November

DocuSign, Inc. (NASDAQ:DOCU) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 13,570,000 shares, a decline of 5.4% from the October 31st total of 14,350,000 shares. Based on an average daily trading volume, of 3,410,000 shares, the short-interest ratio is presently 4.0 days.

Insider Activity

In other news, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $56.56, for a total value of $30,203.04. Following the completion of the transaction, the director now owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert Chatwani sold 14,799 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $55.46, for a total transaction of $820,752.54. Following the completion of the sale, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. The trade was a 17.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,596 shares of company stock valued at $4,441,529. Insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Several institutional investors have recently made changes to their positions in DOCU. Massmutual Trust Co. FSB ADV raised its holdings in shares of DocuSign by 5,000.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in DocuSign during the third quarter worth $28,000. Mather Group LLC. increased its position in DocuSign by 4,338.5% during the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after buying an additional 564 shares during the last quarter. Brooklyn Investment Group bought a new position in DocuSign during the third quarter valued at about $33,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of DocuSign in the third quarter worth about $47,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DOCU has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on DocuSign from $50.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Royal Bank of Canada upped their price target on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their price objective on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, JMP Securities increased their target price on shares of DocuSign from $84.00 to $108.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $70.73.

DocuSign Stock Performance

NASDAQ DOCU opened at $80.45 on Wednesday. The firm’s 50 day moving average price is $72.86 and its two-hundred day moving average price is $61.36. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 8.31 and a beta of 0.92. DocuSign has a twelve month low of $44.34 and a twelve month high of $86.75.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, September 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a return on equity of 16.18% and a net margin of 34.56%. The company had revenue of $736.03 million for the quarter, compared to the consensus estimate of $727.20 million. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts forecast that DocuSign will post 1.03 EPS for the current fiscal year.

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.