Short Interest in DocuSign, Inc. (NASDAQ:DOCU) Declines By 13.5%

DocuSign, Inc. (NASDAQ:DOCU) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 6,790,000 shares, a decline of 13.5% from the February 28th total of 7,850,000 shares. Based on an average trading volume of 2,650,000 shares, the short-interest ratio is presently 2.6 days. Currently, 3.4% of the company’s stock are short sold.

Insider Transactions at DocuSign

In other news, insider James P. Shaughnessy sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the transaction, the insider now directly owns 43,781 shares of the company’s stock, valued at approximately $3,947,732.77. This represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total value of $1,306,582.14. Following the completion of the sale, the insider now directly owns 76,842 shares of the company’s stock, valued at approximately $6,392,485.98. This represents a 16.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,851 shares of company stock valued at $8,579,369. Corporate insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC increased its holdings in DocuSign by 178.2% in the 4th quarter. FMR LLC now owns 6,101,024 shares of the company’s stock valued at $548,726,000 after purchasing an additional 3,908,139 shares during the last quarter. Invesco Ltd. grew its stake in shares of DocuSign by 283.9% in the fourth quarter. Invesco Ltd. now owns 3,447,275 shares of the company’s stock valued at $310,048,000 after buying an additional 2,549,310 shares in the last quarter. Norges Bank acquired a new position in DocuSign during the 4th quarter worth about $223,196,000. Arrowstreet Capital Limited Partnership lifted its stake in DocuSign by 201.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,158,311 shares of the company’s stock worth $194,118,000 after acquiring an additional 1,442,639 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its holdings in DocuSign by 34.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 4,754,753 shares of the company’s stock valued at $427,642,000 after acquiring an additional 1,205,500 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

DocuSign Trading Up 1.2 %

DocuSign stock traded up $0.99 during midday trading on Wednesday, hitting $83.68. 568,196 shares of the stock were exchanged, compared to its average volume of 2,683,043. The stock’s 50-day simple moving average is $86.84 and its 200 day simple moving average is $81.90. DocuSign has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market capitalization of $16.94 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the previous year, the company earned $0.76 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts anticipate that DocuSign will post 1.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOCU. Citigroup raised their target price on DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. HSBC reiterated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. William Blair upgraded shares of DocuSign from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Finally, JMP Securities restated a “market outperform” rating and set a $124.00 target price on shares of DocuSign in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.83.

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.