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

DocuSign, Inc. (NASDAQ:DOCU) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 8,640,000 shares, a growth of 43.0% from the May 31st total of 6,040,000 shares. Based on an average daily trading volume, of 2,140,000 shares, the days-to-cover ratio is presently 4.0 days.

DocuSign Price Performance

Shares of DocuSign stock traded up $1.08 on Monday, hitting $54.58. The company had a trading volume of 1,429,582 shares, compared to its average volume of 2,983,368. The business has a 50-day simple moving average of $55.65 and a 200-day simple moving average of $56.78. The company has a market cap of $11.17 billion, a PE ratio of 102.89, a PEG ratio of 4.45 and a beta of 0.94. DocuSign has a 52 week low of $38.11 and a 52 week high of $64.76.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.09. The business had revenue of $709.64 million during the quarter, compared to analysts’ expectations of $706.07 million. DocuSign had a net margin of 3.81% and a return on equity of 15.44%. On average, equities research analysts predict that DocuSign will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 8,086 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total value of $454,109.76. Following the transaction, the chief executive officer now owns 99,546 shares in the company, valued at approximately $5,590,503.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Allan C. Thygesen sold 8,086 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total value of $454,109.76. Following the sale, the chief executive officer now owns 99,546 shares in the company, valued at approximately $5,590,503.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders have sold 91,107 shares of company stock worth $4,861,484 in the last quarter. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of DocuSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in DocuSign by 93.1% during the fourth quarter. SG Americas Securities LLC now owns 78,423 shares of the company’s stock valued at $4,662,000 after purchasing an additional 37,801 shares during the last quarter. AQR Capital Management LLC lifted its stake in DocuSign by 147.4% during the third quarter. AQR Capital Management LLC now owns 1,908,500 shares of the company’s stock valued at $80,157,000 after purchasing an additional 1,136,948 shares during the last quarter. Metis Global Partners LLC acquired a new stake in DocuSign during the fourth quarter valued at approximately $208,000. Charles Schwab Investment Management Inc. lifted its stake in DocuSign by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,260,296 shares of the company’s stock valued at $74,925,000 after purchasing an additional 44,646 shares during the last quarter. Finally, Syon Capital LLC lifted its stake in DocuSign by 450.2% during the fourth quarter. Syon Capital LLC now owns 550,221 shares of the company’s stock valued at $32,711,000 after purchasing an additional 450,221 shares during the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on DOCU. Citigroup dropped their price objective on shares of DocuSign from $93.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Robert W. Baird dropped their price objective on shares of DocuSign from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Bank of America dropped their price objective on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Royal Bank of Canada dropped their price objective on shares of DocuSign from $59.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, June 7th. Finally, Morgan Stanley dropped their price objective on shares of DocuSign from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $59.36.

About DocuSign

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.