Docusign Inc. (NASDAQ:DOCU) Short Interest Up 46.6% in January

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

Insider Transactions at Docusign

In other Docusign news, insider James P. Shaughnessy sold 12,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $67.03, for a total transaction of $804,360.00. Following the completion of the transaction, the insider directly owned 54,550 shares of the company’s stock, valued at $3,656,486.50. This trade represents a 18.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Chatwani sold 13,818 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $68.33, for a total transaction of $944,183.94. Following the completion of the sale, the insider directly owned 70,197 shares of the company’s stock, valued at $4,796,561.01. The trade was a 16.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 78,292 shares of company stock valued at $5,374,260 over the last ninety days. 1.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Docusign

Institutional investors and hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division purchased a new position in Docusign during the 4th quarter worth approximately $25,000. Modus Advisors LLC acquired a new stake in shares of Docusign in the fourth quarter worth $27,000. Torren Management LLC acquired a new stake in shares of Docusign in the fourth quarter worth $28,000. True Wealth Design LLC grew its holdings in shares of Docusign by 105.2% during the fourth quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Finally, Aventura Private Wealth LLC acquired a new position in Docusign during the fourth quarter valued at $30,000. 77.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Docusign in a report on Wednesday, December 17th. Royal Bank Of Canada dropped their price target on Docusign from $95.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Monday, January 5th. Cantor Fitzgerald restated an “outperform” rating on shares of Docusign in a research note on Wednesday, December 17th. Piper Sandler lowered their target price on shares of Docusign from $90.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Finally, HSBC set a $53.00 target price on shares of Docusign in a report on Friday. Six research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.00.

Docusign Trading Up 2.5%

Docusign stock opened at $44.82 on Friday. The firm has a market capitalization of $8.98 billion, a P/E ratio of 31.34, a PEG ratio of 1.96 and a beta of 1.00. The business has a 50-day moving average of $61.01 and a 200-day moving average of $68.61. Docusign has a 1 year low of $41.53 and a 1 year high of $94.67.

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.