Docusign Inc (DOCU) Sees Large Increase in Short Interest

Docusign Inc (NASDAQ:DOCU) was the recipient of a large increase in short interest in the month of September. As of September 14th, there was short interest totalling 8,041,388 shares, an increase of 30.8% from the August 31st total of 6,146,252 shares. Approximately 10.8% of the company’s shares are sold short. Based on an average daily trading volume, of 3,205,537 shares, the days-to-cover ratio is presently 2.5 days.

In other news, Director Peter Solvik sold 1,304,348 shares of Docusign stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $55.00, for a total transaction of $71,739,140.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new stake in Docusign in the second quarter valued at approximately $131,000. Bank of Montreal Can purchased a new stake in Docusign in the second quarter valued at approximately $145,000. State of Alaska Department of Revenue purchased a new stake in Docusign in the second quarter valued at approximately $160,000. Westpac Banking Corp purchased a new stake in Docusign in the second quarter valued at approximately $193,000. Finally, Keybank National Association OH purchased a new stake in Docusign in the second quarter valued at approximately $245,000. 34.12% of the stock is currently owned by institutional investors.

Shares of NASDAQ DOCU opened at $52.82 on Friday. Docusign has a 52-week low of $37.00 and a 52-week high of $68.35.

Docusign (NASDAQ:DOCU) last announced its earnings results on Wednesday, September 5th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $167.04 million during the quarter, compared to analysts’ expectations of $158.70 million. Docusign’s revenue for the quarter was up 33.1% compared to the same quarter last year. analysts anticipate that Docusign will post -2.46 EPS for the current year.

DOCU has been the topic of several analyst reports. Zacks Investment Research lowered shares of Docusign from a “buy” rating to a “sell” rating in a research report on Tuesday, September 11th. Bank of America lifted their price target on shares of Docusign from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, September 6th. JPMorgan Chase & Co. lifted their price target on shares of Docusign to $70.00 and gave the company an “overweight” rating in a research report on Friday, June 8th. Morgan Stanley lifted their price target on shares of Docusign from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Thursday, September 6th. Finally, JMP Securities lifted their price target on shares of Docusign from $63.00 to $68.00 and gave the company a “market outperform” rating in a research report on Thursday, September 6th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $62.33.

Docusign Company Profile

DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.

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