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

Docusign Inc. (NASDAQ:DOCU) was the target of a large increase in short interest in 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. Approximately 4.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,296,246 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily trading volume, of 4,296,246 shares, the days-to-cover ratio is currently 2.1 days. Approximately 4.5% of the shares of the stock are short sold.

Insider Activity

In other Docusign news, insider Robert Chatwani sold 13,818 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $944,183.94. Following the transaction, the insider directly owned 70,197 shares in the company, valued at $4,796,561.01. This represents a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 6,500 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer owned 111,713 shares of the company’s stock, valued at approximately $7,819,910. The trade was a 5.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 78,292 shares of company stock worth $5,374,260. 1.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Docusign

Large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC boosted its position in Docusign by 4.5% during the 4th quarter. Kestra Advisory Services LLC now owns 10,444 shares of the company’s stock worth $714,000 after purchasing an additional 447 shares during the period. Burton Enright Welch acquired a new position in Docusign during the 4th quarter worth approximately $241,000. Marshall Wace LLP boosted its holdings in Docusign by 1,575.5% in the 4th quarter. Marshall Wace LLP now owns 888,411 shares of the company’s stock worth $60,767,000 after acquiring an additional 835,388 shares during the period. Quinn Opportunity Partners LLC acquired a new position in shares of Docusign in the 4th quarter valued at approximately $4,446,000. Finally, Bridgewater Associates LP boosted its stake in shares of Docusign by 62.9% during the 4th quarter. Bridgewater Associates LP now owns 656,869 shares of the company’s stock valued at $44,930,000 after buying an additional 253,727 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Docusign Price Performance

DOCU stock opened at $44.82 on Friday. The company’s 50 day simple moving average is $61.01 and its 200-day simple moving average is $68.61. Docusign has a 12 month low of $41.53 and a 12 month high of $94.67. The firm has a market capitalization of $8.98 billion, a PE ratio of 31.34, a P/E/G ratio of 1.96 and a beta of 1.00.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Zacks Research downgraded shares of Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Royal Bank Of Canada cut their target price on Docusign from $95.00 to $70.00 and set a “sector perform” rating for the company in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Docusign in a report on Wednesday, January 21st. Bank of America lowered their price target on Docusign from $102.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Finally, Cantor Fitzgerald restated an “outperform” rating on shares of Docusign in a research report on Wednesday, December 17th. Six investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $84.00.

Docusign Company Profile

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.