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

DocuSign, Inc. (NASDAQ:DOCU) was the target of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 11,050,000 shares, a decrease of 5.8% from the November 30th total of 11,730,000 shares. Based on an average daily trading volume, of 4,030,000 shares, the short-interest ratio is currently 2.7 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on DOCU. Piper Sandler increased their target price on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. JMP Securities increased their price target on DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Hsbc Global Res raised DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target (up previously from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus price target of $92.45.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $89.94 on Thursday. DocuSign has a one year low of $48.70 and a one year high of $107.86. The company has a market cap of $18.17 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 8.72 and a beta of 0.92. The firm has a 50 day simple moving average of $84.37 and a 200 day simple moving average of $67.10.

Insider Activity at DocuSign

In related news, insider James P. Shaughnessy sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the completion of the sale, the insider now directly owns 43,301 shares in the company, valued at $2,937,106.83. The trade was a 14.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,588 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $97.78, for a total value of $1,524,194.64. Following the completion of the transaction, the chief financial officer now directly owns 85,851 shares in the company, valued at approximately $8,394,510.78. This represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 653,089 shares of company stock worth $62,551,245. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in DocuSign in the 3rd quarter worth about $28,000. Brooklyn Investment Group bought a new stake in shares of DocuSign during the third quarter worth about $33,000. Reston Wealth Management LLC acquired a new position in shares of DocuSign in the third quarter valued at approximately $47,000. Wilmington Savings Fund Society FSB bought a new position in DocuSign in the 3rd quarter valued at approximately $51,000. Finally, nVerses Capital LLC acquired a new stake in DocuSign during the 2nd quarter worth approximately $48,000. 77.64% of the stock is currently owned by institutional investors.

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.