DocuSign, Inc. (NASDAQ:DOCU – Get Rating) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 11,010,000 shares, a drop of 8.7% from the January 15th total of 12,060,000 shares. Based on an average daily trading volume, of 5,630,000 shares, the days-to-cover ratio is currently 2.0 days.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. Bank of America lowered their price target on shares of DocuSign from $80.00 to $65.00 in a report on Friday, December 9th. Jefferies Financial Group upgraded DocuSign from a “hold” rating to a “buy” rating and increased their price target for the stock from $50.00 to $70.00 in a report on Thursday, January 5th. Piper Sandler boosted their price objective on DocuSign from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, January 5th. Robert W. Baird decreased their target price on DocuSign from $70.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, December 5th. Finally, Wells Fargo & Company boosted their price target on DocuSign from $48.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, January 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, DocuSign currently has an average rating of “Hold” and a consensus target price of $59.71.
DocuSign Trading Up 2.9 %
DOCU opened at $65.49 on Thursday. DocuSign has a fifty-two week low of $39.57 and a fifty-two week high of $123.92. The firm has a market capitalization of $13.17 billion, a PE ratio of -99.23, a P/E/G ratio of 886.31 and a beta of 1.01. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50-day moving average is $57.82 and its 200 day moving average is $55.43.
DocuSign (NASDAQ:DOCU – Get Rating) last issued its quarterly earnings data on Thursday, December 8th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.13. DocuSign had a negative return on equity of 18.86% and a negative net margin of 5.45%. The firm had revenue of $645.46 million during the quarter, compared to analyst estimates of $626.07 million. As a group, research analysts predict that DocuSign will post -0.1 earnings per share for the current fiscal year.
Insider Activity at DocuSign
In other DocuSign news, Director Daniel D. Springer sold 147,008 shares of the company’s stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $55.08, for a total value of $8,097,200.64. Following the completion of the transaction, the director now directly owns 1,225,714 shares in the company, valued at approximately $67,512,327.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Daniel D. Springer sold 147,008 shares of the firm’s stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $55.08, for a total transaction of $8,097,200.64. Following the completion of the transaction, the director now directly owns 1,225,714 shares of the company’s stock, valued at approximately $67,512,327.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel D. Springer sold 147,009 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $58.48, for a total value of $8,597,086.32. Following the completion of the sale, the director now owns 1,524,335 shares in the company, valued at approximately $89,143,110.80. The disclosure for this sale can be found here. 2.55% of the stock is owned by company insiders.
Institutional Investors Weigh In On DocuSign
Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its holdings in DocuSign by 2.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 101,280 shares of the company’s stock worth $5,613,000 after acquiring an additional 2,125 shares during the last quarter. CI Private Wealth LLC purchased a new position in DocuSign during the fourth quarter worth about $741,000. Seaport Global Advisors LLC grew its position in DocuSign by 112.4% in the 4th quarter. Seaport Global Advisors LLC now owns 4,751 shares of the company’s stock worth $263,000 after purchasing an additional 2,514 shares in the last quarter. Kapstone Financial Advisors LLC purchased a new stake in DocuSign in the 4th quarter valued at about $241,000. Finally, Cerity Partners LLC purchased a new stake in DocuSign in the 4th quarter valued at about $983,000. 76.18% of the stock is owned by hedge funds and other institutional investors.
DocuSign Company Profile
DocuSign, Inc provides cloud-based electronic signature solutions. Its cloud based electronic signature platform helps companies and individuals securely collect information, automate data workflows and sign anything. The firm automates manual, paper-based processes allowing users to manage all aspects of documented business transactions including identity management, authentication, digital signature, forms and data collection, collaboration, workflow automation and storage.