DocuSign, Inc. (NASDAQ:DOCU) Short Interest Up 18.0% in March

DocuSign, Inc. (NASDAQ:DOCU) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 8,380,000 shares, a growth 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 Buying and Selling

In related news, Director Peter Solvik sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the sale, the director now owns 783 shares in the company, valued at approximately $46,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other DocuSign news, Director Peter Solvik sold 15,000 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $60.00, for a total value of $900,000.00. Following the completion of the sale, the director now owns 783 shares in the company, valued at approximately $46,980. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen Shute sold 15,109 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total transaction of $861,515.18. Following the completion of the sale, the insider now owns 8,959 shares of the company’s stock, valued at approximately $510,842.18. The disclosure for this sale can be found here. Insiders have sold 54,871 shares of company stock worth $3,176,199 in the last quarter. Insiders own 17.80% of the company’s stock.

Institutional Trading of DocuSign

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sovereign Financial Group Inc. purchased a new position in DocuSign in the 1st quarter worth $234,000. Sunbelt Securities Inc. raised its position in DocuSign by 20.1% in the 1st quarter. Sunbelt Securities Inc. now owns 3,412 shares of the company’s stock worth $203,000 after purchasing an additional 572 shares during the period. Gilman Hill Asset Management LLC raised its position in DocuSign by 0.9% in the 1st quarter. Gilman Hill Asset Management LLC now owns 75,726 shares of the company’s stock worth $4,509,000 after purchasing an additional 685 shares during the period. RFG Advisory LLC purchased a new position in DocuSign in the 1st quarter worth $229,000. Finally, Banque Cantonale Vaudoise raised its position in DocuSign by 391.1% in the 1st quarter. Banque Cantonale Vaudoise now owns 40,233 shares of the company’s stock worth $2,396,000 after purchasing an additional 32,041 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Analysts Set New Price Targets

DOCU has been the subject of a number of research reports. UBS Group raised shares of DocuSign from a “sell” rating to a “neutral” rating and increased their target price for the company from $48.00 to $62.00 in a research report on Friday. TheStreet raised shares of DocuSign from a “d+” rating to a “c-” rating in a research report on Tuesday, December 19th. Needham & Company LLC reissued a “hold” rating on shares of DocuSign in a research report on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $84.00 price objective on shares of DocuSign in a report on Friday. Finally, Morgan Stanley raised shares of DocuSign from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $49.00 to $64.00 in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign presently has an average rating of “Hold” and an average price target of $60.25.

DocuSign Stock Performance

DocuSign stock opened at $56.67 on Tuesday. The firm’s fifty day moving average price is $55.44 and its 200-day moving average price is $51.84. The stock has a market cap of $11.64 billion, a P/E ratio of 157.42, 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.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. The firm had revenue of $712.39 million for the quarter, compared to analysts’ expectations of $698.05 million. DocuSign had a net margin of 2.68% and a return on equity of 13.91%. On average, analysts predict that DocuSign will post 0.86 earnings per share for the current 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.