DocuSign, Inc. (NASDAQ:DOCU) Sees Significant Increase in Short Interest

DocuSign, Inc. (NASDAQ:DOCU - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 8,380,000 shares, an increase of 18.0% from the March 15th total of 7,100,000 shares. Based on an average trading volume of 3,620,000 shares, the short-interest ratio is presently 2.3 days.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 7,680 shares of the business's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $61.27, for a total value of $470,553.60. Following the completion of the sale, the chief executive officer now directly owns 111,767 shares of the company's stock, valued at $6,847,964.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Stephen Shute sold 15,109 shares of the firm's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total value of $861,515.18. Following the completion of the sale, the insider now owns 8,959 shares in the company, valued at approximately $510,842.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Allan C. Thygesen sold 7,680 shares of the business's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the transaction, the chief executive officer now owns 111,767 shares in the company, valued at $6,847,964.09. The disclosure for this sale can be found here. Insiders sold a total of 54,871 shares of company stock valued at $3,176,199 over the last ninety days. Insiders own 17.80% of the company's stock.

Hedge Funds Weigh In On DocuSign

Several hedge funds and other institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System lifted its stake in shares of DocuSign by 0.9% in the 4th quarter. New York State Teachers Retirement System now owns 18,282 shares of the company's stock valued at $1,087,000 after purchasing an additional 163 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in DocuSign by 1.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,965 shares of the company's stock worth $514,000 after acquiring an additional 164 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in DocuSign by 3.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 5,009 shares of the company's stock worth $278,000 after acquiring an additional 182 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in DocuSign by 2.7% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company's stock worth $415,000 after acquiring an additional 184 shares in the last quarter. Finally, Utah Retirement Systems lifted its position in DocuSign by 0.6% during the 2nd quarter. Utah Retirement Systems now owns 34,587 shares of the company's stock worth $1,984,000 after acquiring an additional 200 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

DocuSign Stock Down 1.0 %

Shares of DOCU traded down $0.58 during trading hours on Friday, reaching $58.90. 2,378,280 shares of the company traded hands, compared to its average volume of 1,871,653. The stock has a market capitalization of $12.10 billion, a PE ratio of 163.62, a price-to-earnings-growth ratio of 5.15 and a beta of 0.89. DocuSign has a fifty-two week low of $38.11 and a fifty-two week high of $64.76. The stock has a fifty day simple moving average of $55.37 and a 200 day simple moving average of $51.73.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The business had revenue of $712.39 million for the quarter, compared to analyst estimates of $698.05 million. Research analysts predict that DocuSign will post 0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on DOCU shares. UBS Group upgraded DocuSign from a "sell" rating to a "neutral" rating and lifted their price target for the company from $48.00 to $62.00 in a research note on Friday. JMP Securities reiterated a "market outperform" rating and issued a $84.00 price target on shares of DocuSign in a report on Friday. Needham & Company LLC reissued a "hold" rating on shares of DocuSign in a report on Friday. Morgan Stanley raised shares of DocuSign from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $49.00 to $64.00 in a report on Tuesday, January 16th. Finally, Wells Fargo & Company lowered their price target on DocuSign from $55.00 to $45.00 and set an "underweight" rating on the stock in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $60.25.

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.