Short Interest in Docusign Inc (NASDAQ:DOCU) Declines By 5.3%

Docusign Inc (NASDAQ:DOCU) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 8,504,500 shares, a drop of 5.3% from the June 30th total of 8,977,900 shares. Based on an average trading volume of 2,550,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately 10.0% of the shares of the company are short sold.

Docusign stock opened at $44.81 on Friday. The stock has a market capitalization of $7.63 billion, a PE ratio of -15.45 and a beta of 1.31. Docusign has a 12 month low of $35.06 and a 12 month high of $68.35. The business has a 50 day simple moving average of $50.46 and a 200-day simple moving average of $52.88. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.76 and a quick ratio of 1.76.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, June 6th. The company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.30. The business had revenue of $213.96 million during the quarter, compared to analysts’ expectations of $208.15 million. Docusign had a negative return on equity of 22.27% and a negative net margin of 26.54%. The business’s revenue was up 37.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 earnings per share. On average, equities research analysts anticipate that Docusign will post -0.99 EPS for the current fiscal year.

In related news, CRO Loren Alhadeff sold 11,579 shares of Docusign stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $53.12, for a total transaction of $615,076.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Scott V. Olrich sold 10,000 shares of Docusign stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $54.85, for a total value of $548,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 590,988 shares of company stock valued at $30,533,281. 13.60% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Clean Yield Group acquired a new stake in shares of Docusign in the first quarter worth approximately $31,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Docusign in the second quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Docusign by 261.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the company’s stock worth $38,000 after acquiring an additional 556 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Docusign by 226.1% in the first quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock worth $45,000 after acquiring an additional 606 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Docusign in the second quarter worth approximately $47,000. Institutional investors and hedge funds own 62.36% of the company’s stock.

A number of analysts have recently commented on DOCU shares. William Blair restated an “outperform” rating on shares of Docusign in a research report on Friday, June 7th. Wedbush restated a “hold” rating and issued a $48.00 price objective on shares of Docusign in a research report on Friday, June 7th. FBN Securities started coverage on Docusign in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $60.00 price objective for the company. ValuEngine upgraded Docusign from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Finally, Zacks Investment Research cut Docusign from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Docusign presently has an average rating of “Buy” and an average price target of $59.54.

About Docusign

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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