Short Interest in Docusign Inc. (NASDAQ:DOCU) Rises By 46.6%

Docusign Inc. (NASDAQ:DOCU) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 8,866,066 shares, an increase of 46.6% from the January 15th total of 6,048,851 shares. Based on an average daily volume of 4,296,246 shares, the days-to-cover ratio is presently 2.1 days. Approximately 4.5% of the company’s stock are short sold. Approximately 4.5% of the company’s stock are short sold. Based on an average daily volume of 4,296,246 shares, the days-to-cover ratio is presently 2.1 days.

Insider Activity at Docusign

In related news, CFO Blake Jeffrey Grayson sold 6,500 shares of the firm’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $70.00, for a total transaction of $455,000.00. Following the completion of the sale, the chief financial officer owned 111,713 shares in the company, valued at approximately $7,819,910. This trade represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Paula Hansen sold 6,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.05, for a total value of $402,300.00. Following the transaction, the executive directly owned 68,970 shares in the company, valued at $4,624,438.50. This represents a 8.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 78,292 shares of company stock valued at $5,374,260 in the last ninety days. Insiders own 1.66% of the company’s stock.

Institutional Trading of Docusign

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Docusign by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 21,625,551 shares of the company’s stock worth $1,558,986,000 after buying an additional 225,525 shares during the last quarter. State Street Corp raised its holdings in shares of Docusign by 0.9% during the fourth quarter. State Street Corp now owns 8,193,805 shares of the company’s stock valued at $560,456,000 after purchasing an additional 77,008 shares during the last quarter. Capital World Investors lifted its position in Docusign by 38.1% during the fourth quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock valued at $397,801,000 after purchasing an additional 1,603,900 shares during the period. American Century Companies Inc. boosted its holdings in Docusign by 1.6% in the second quarter. American Century Companies Inc. now owns 5,564,318 shares of the company’s stock worth $433,405,000 after purchasing an additional 86,560 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Docusign by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,084,463 shares of the company’s stock valued at $278,665,000 after buying an additional 18,873 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DOCU has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their price target on Docusign from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, December 5th. Wells Fargo & Company lowered their target price on shares of Docusign from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, December 5th. Royal Bank Of Canada decreased their price target on shares of Docusign from $95.00 to $70.00 and set a “sector perform” rating on the stock in a report on Monday, January 5th. BTIG Research initiated coverage on Docusign in a research report on Tuesday, December 16th. They set a “buy” rating and a $88.00 target price for the company. Finally, Wedbush cut their price objective on Docusign from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Six analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.00.

Docusign Stock Up 2.5%

Shares of DOCU traded up $1.08 during trading hours on Monday, hitting $44.82. The company had a trading volume of 5,006,338 shares, compared to its average volume of 4,737,820. Docusign has a 52-week low of $41.53 and a 52-week high of $94.67. The stock’s 50 day moving average price is $61.01 and its 200 day moving average price is $68.55. The firm has a market cap of $8.98 billion, a P/E ratio of 31.34, a P/E/G ratio of 1.96 and a beta of 1.01.

About Docusign

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.