Docusign Inc (NASDAQ:DOCU) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 8,950,000 shares, a decrease of 9.0% from the January 15th total of 9,830,000 shares. Based on an average daily trading volume, of 1,880,000 shares, the days-to-cover ratio is presently 4.8 days. Approximately 6.0% of the company’s stock are sold short.
Shares of DOCU traded up $1.38 during midday trading on Friday, reaching $89.41. 1,122,234 shares of the stock were exchanged, compared to its average volume of 1,834,933. Docusign has a twelve month low of $43.13 and a twelve month high of $89.60. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.07. The company has a market cap of $15.90 billion, a P/E ratio of -67.73 and a beta of 1.43. The stock’s 50 day simple moving average is $77.03 and its 200 day simple moving average is $65.46.
Docusign (NASDAQ:DOCU) last posted its earnings results on Thursday, December 5th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.08. Docusign had a negative return on equity of 26.77% and a negative net margin of 25.28%. The company had revenue of $249.50 million during the quarter, compared to the consensus estimate of $240.40 million. The business’s quarterly revenue was up 39.9% compared to the same quarter last year. As a group, analysts predict that Docusign will post -0.9 earnings per share for the current year.
Several equities research analysts have issued reports on DOCU shares. Wedbush reaffirmed an “outperform” rating on shares of Docusign in a report on Thursday, January 23rd. Bank of America raised their price target on Docusign from $62.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Citigroup raised their price target on Docusign from $72.00 to $85.00 in a report on Friday, December 6th. Zacks Investment Research downgraded Docusign from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Finally, Evercore ISI started coverage on Docusign in a report on Monday, November 4th. They set an “outperform” rating and a $80.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $77.33.
In other news, Director Enrique T. Salem sold 722,647 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $74.75, for a total value of $54,017,863.25. Following the completion of the sale, the director now owns 65,494 shares of the company’s stock, valued at approximately $4,895,676.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Loren Alhadeff sold 8,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $69.76, for a total value of $558,080.00. Following the completion of the sale, the executive now directly owns 214,078 shares of the company’s stock, valued at approximately $14,934,081.28. The disclosure for this sale can be found here. In the last three months, insiders sold 1,585,805 shares of company stock valued at $119,062,552. 13.60% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Hartford Financial Management Inc. bought a new position in shares of Docusign in the third quarter worth $31,000. Winslow Evans & Crocker Inc. bought a new position in shares of Docusign in the fourth quarter worth $32,000. Whittier Trust Co. increased its position in shares of Docusign by 229.4% in the third quarter. Whittier Trust Co. now owns 560 shares of the company’s stock worth $35,000 after purchasing an additional 390 shares during the period. Acadian Asset Management LLC bought a new position in shares of Docusign in the fourth quarter worth $37,000. Finally, Squar Milner Financial Services LLC increased its position in shares of Docusign by 719.1% in the third quarter. Squar Milner Financial Services LLC now owns 770 shares of the company’s stock worth $47,000 after purchasing an additional 676 shares during the period. 79.91% of the stock is owned by institutional investors.
Docusign Company Profile
DocuSign, Inc provides cloud based software in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. The company sells its products through direct, partner-assisted, and Web-based sales. It serves enterprise businesses, commercial businesses, and small businesses, such as professionals, sole proprietorships and individuals.
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