Docusign Inc (NASDAQ:DOCU) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 9,620,500 shares, a growth of 13.1% from the July 31st total of 8,504,500 shares. Based on an average daily volume of 2,570,000 shares, the short-interest ratio is currently 3.7 days. Currently, 9.2% of the company’s shares are sold short.

In other news, COO Scott V. Olrich sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $58.98, for a total value of $235,920.00. Also, CRO Loren Alhadeff sold 11,579 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold a total of 590,988 shares of company stock worth $30,606,261 in the last 90 days. Corporate insiders own 13.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC bought a new stake in Docusign during the 2nd quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Docusign by 261.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the company’s stock valued at $38,000 after purchasing an additional 556 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in Docusign by 226.1% during the 1st quarter. Rehmann Capital Advisory Group now owns 874 shares of the company’s stock valued at $45,000 after purchasing an additional 606 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Docusign during the 2nd quarter valued at $47,000. Finally, Regal Wealth Group Inc. bought a new stake in Docusign during the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 69.76% of the company’s stock.

DOCU stock traded down $0.18 during midday trading on Friday, reaching $62.75. 170,089 shares of the company’s stock traded hands, compared to its average volume of 3,732,308. The company has a market cap of $10.54 billion, a price-to-earnings ratio of -21.65 and a beta of 1.37. The firm’s fifty day moving average price is $48.48 and its 200-day moving average price is $52.36. The company has a quick ratio of 1.76, a current ratio of 1.64 and a debt-to-equity ratio of 1.06. Docusign has a 52 week low of $35.06 and a 52 week high of $64.18.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.24. The business had revenue of $235.61 million during the quarter, compared to analyst estimates of $220.81 million. Docusign had a negative net margin of 28.20% and a negative return on equity of 26.70%. Docusign’s quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. Analysts forecast that Docusign will post -1.04 earnings per share for the current year.

A number of research analysts have recently issued reports on the stock. William Blair restated an “outperform” rating on shares of Docusign in a research report on Friday, June 7th. JPMorgan Chase & Co. lifted their price objective on shares of Docusign from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Zacks Investment Research lowered shares of Docusign from a “hold” rating to a “sell” rating in a research note on Wednesday. FBN Securities set a $65.00 price objective on shares of Docusign and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, ValuEngine upgraded shares of Docusign from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. Docusign currently has a consensus rating of “Buy” and an average target price of $65.07.

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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