Short Interest in DocuSign, Inc. (NASDAQ:DOCU) Rises By 43.0%

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

Analyst Upgrades and Downgrades

Several research firms have commented on DOCU. Morgan Stanley cut their price target on DocuSign from $65.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 7th. UBS Group raised DocuSign from a “sell” rating to a “neutral” rating and boosted their price target for the company from $48.00 to $62.00 in a research note on Friday, April 12th. Royal Bank of Canada cut their price objective on DocuSign from $59.00 to $52.00 and set a “sector perform” rating for the company in a report on Friday, June 7th. Bank of America dropped their target price on shares of DocuSign from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of DocuSign in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.36.

DocuSign Stock Performance

NASDAQ DOCU traded up $1.64 during trading hours on Monday, reaching $55.14. 2,635,460 shares of the company’s stock were exchanged, compared to its average volume of 2,993,012. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 106.04, a price-to-earnings-growth ratio of 4.45 and a beta of 0.89. The company’s 50-day moving average is $55.65 and its two-hundred day moving average is $56.78. DocuSign has a one year low of $38.11 and a one year high of $64.76.

DocuSign (NASDAQ:DOCU) last issued its quarterly earnings results on Thursday, June 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The company had revenue of $709.64 million for the quarter, compared to analyst estimates of $706.07 million. DocuSign had a return on equity of 15.44% and a net margin of 3.81%. 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 company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction of $454,109.76. Following the completion of the sale, the chief executive officer now directly owns 99,546 shares of the company’s stock, valued at $5,590,503.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider James P. Shaughnessy sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $50.98, for a total transaction of $91,764.00. Following the completion of the sale, the insider now directly owns 35,703 shares of the company’s stock, valued at approximately $1,820,138.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Allan C. Thygesen sold 8,086 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $56.16, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 91,107 shares of company stock worth $4,861,484. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of DocuSign

Institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System increased its position in DocuSign by 0.9% during the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock worth $1,087,000 after buying an additional 163 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of DocuSign by 2.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock valued at $415,000 after acquiring an additional 184 shares in the last quarter. Whittier Trust Co. boosted its holdings in DocuSign by 28.8% in the 4th quarter. Whittier Trust Co. now owns 935 shares of the company’s stock valued at $56,000 after purchasing an additional 209 shares during the period. Motley Fool Asset Management LLC increased its holdings in shares of DocuSign by 6.0% during the first quarter. Motley Fool Asset Management LLC now owns 3,960 shares of the company’s stock worth $236,000 after purchasing an additional 224 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of DocuSign by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,899 shares of the company’s stock valued at $4,617,000 after buying an additional 239 shares in the last quarter. Institutional investors own 77.64% of the company’s stock.

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.