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

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

DocuSign Stock Down 7.2 %

DOCU opened at $77.37 on Friday. The firm’s 50 day moving average is $86.41 and its 200-day moving average is $81.88. DocuSign has a 52-week low of $48.70 and a 52-week high of $107.86. The firm has a market capitalization of $15.67 billion, a P/E ratio of 15.95, a P/E/G ratio of 6.94 and a beta of 1.20.

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

Wall Street Analyst Weigh In

Several analysts have commented on the company. Citigroup lifted their price target on DocuSign from $113.00 to $115.00 and gave the company a “buy” rating in a report on Friday, March 14th. JMP Securities restated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a report on Tuesday, January 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, March 14th. HSBC restated a “reduce” rating on shares of DocuSign in a research note on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on DocuSign from $62.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $95.83.

Insiders Place Their Bets

In other DocuSign news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $86.90, for a total transaction of $695,200.00. Following the transaction, the chief financial officer now owns 77,851 shares of the company’s stock, valued at $6,765,251.90. This represents a 9.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the sale, the director now owns 8,270 shares in the company, valued at $722,880.70. This trade represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,851 shares of company stock valued at $4,911,319 in the last ninety days. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DOCU. The Manufacturers Life Insurance Company lifted its holdings in DocuSign by 2.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company’s stock worth $3,322,000 after buying an additional 1,248 shares during the last quarter. FMR LLC lifted its stake in DocuSign by 16.8% during the third quarter. FMR LLC now owns 2,192,885 shares of the company’s stock worth $136,156,000 after purchasing an additional 315,073 shares during the last quarter. Townsquare Capital LLC boosted its holdings in DocuSign by 3.7% in the third quarter. Townsquare Capital LLC now owns 5,103 shares of the company’s stock worth $317,000 after purchasing an additional 183 shares during the period. Captrust Financial Advisors increased its stake in DocuSign by 92.3% during the third quarter. Captrust Financial Advisors now owns 38,587 shares of the company’s stock valued at $2,396,000 after purchasing an additional 18,518 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of DocuSign during the third quarter worth $1,190,000. 77.64% of the stock is owned by institutional investors and hedge funds.

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.