Docusign Inc. (NASDAQ:DOCU) Sees Significant Increase in Short Interest

Docusign Inc. (NASDAQ:DOCU) was the target of a large 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 shares are short sold. Based on an average daily volume of 4,296,246 shares, the short-interest ratio is presently 2.1 days. Based on an average daily volume of 4,296,246 shares, the short-interest ratio is presently 2.1 days. Approximately 4.5% of the company’s shares are short sold.

Analyst Ratings Changes

Several analysts recently issued reports on DOCU shares. Zacks Research downgraded Docusign from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. BTIG Research began coverage on Docusign in a research report on Tuesday, December 16th. They issued a “buy” rating and a $88.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of Docusign in a research note on Wednesday, December 17th. Robert W. Baird dropped their target price on Docusign from $90.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Finally, Cantor Fitzgerald reissued an “outperform” rating on shares of Docusign in a research report on Wednesday, December 17th. Six research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $84.00.

Insider Buying and Selling at Docusign

In related news, insider Robert Chatwani sold 13,818 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $68.33, for a total value of $944,183.94. Following the transaction, the insider owned 70,197 shares in the company, valued at approximately $4,796,561.01. This trade represents a 16.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $70.00, for a total transaction of $455,000.00. Following the sale, the chief financial officer owned 111,713 shares of the company’s stock, valued at approximately $7,819,910. This represents a 5.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 78,292 shares of company stock worth $5,374,260. Company insiders own 1.66% of the company’s stock.

Institutional Trading of Docusign

Several institutional investors have recently added to or reduced their stakes in DOCU. Nordea Investment Management AB boosted its holdings in shares of Docusign by 3.6% in the third quarter. Nordea Investment Management AB now owns 1,154,824 shares of the company’s stock valued at $87,316,000 after acquiring an additional 40,432 shares in the last quarter. Baird Financial Group Inc. lifted its position in Docusign by 927.2% in the second quarter. Baird Financial Group Inc. now owns 124,145 shares of the company’s stock worth $9,670,000 after purchasing an additional 112,059 shares during the period. Rakuten Investment Management Inc. acquired a new stake in Docusign in the third quarter worth approximately $5,335,000. Vise Technologies Inc. bought a new position in Docusign during the 2nd quarter valued at $436,000. Finally, Bank of New York Mellon Corp boosted its stake in Docusign by 3.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,594,884 shares of the company’s stock valued at $114,975,000 after purchasing an additional 47,331 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Docusign Stock Up 2.5%

Shares of NASDAQ DOCU opened at $44.82 on Tuesday. Docusign has a fifty-two week low of $41.53 and a fifty-two week high of $94.67. The business has a 50 day moving average price of $60.59 and a two-hundred day moving average price of $68.33. The firm has a market cap of $8.98 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.01.

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.