Investors Buy Large Volume of Call Options on DocuSign (NASDAQ:DOCU)

DocuSign, Inc. (NASDAQ:DOCU) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 24,012 call options on the stock. This is an increase of 62% compared to the typical volume of 14,793 call options.

Insiders Place Their Bets

In other DocuSign news, Director Daniel D. Springer sold 581,588 shares of DocuSign stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $97.04, for a total value of $56,437,299.52. Following the completion of the sale, the director now directly owns 906,430 shares of the company’s stock, valued at approximately $87,959,967.20. The trade was a 39.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 14,799 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.46, for a total transaction of $820,752.54. Following the sale, the insider now directly owns 70,748 shares of the company’s stock, valued at $3,923,684.08. This represents a 17.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 651,184 shares of company stock valued at $60,878,829. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

A number of institutional investors have recently modified their holdings of the stock. J.W. Cole Advisors Inc. raised its stake in shares of DocuSign by 2.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 7,946 shares of the company’s stock valued at $493,000 after purchasing an additional 155 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in shares of DocuSign by 0.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,516 shares of the company’s stock valued at $1,088,000 after purchasing an additional 157 shares in the last quarter. Optimist Retirement Group LLC raised its stake in shares of DocuSign by 3.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 4,416 shares of the company’s stock valued at $274,000 after purchasing an additional 161 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of DocuSign by 6.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,019 shares of the company’s stock valued at $187,000 after purchasing an additional 172 shares in the last quarter. Finally, Dakota Wealth Management raised its stake in shares of DocuSign by 0.8% in the 2nd quarter. Dakota Wealth Management now owns 23,022 shares of the company’s stock valued at $1,232,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Price Performance

Shares of DOCU stock opened at $94.75 on Thursday. DocuSign has a 12 month low of $48.70 and a 12 month high of $107.86. The firm has a market capitalization of $19.23 billion, a P/E ratio of 19.54, a P/E/G ratio of 11.08 and a beta of 0.92. The company’s fifty day moving average price is $76.80 and its two-hundred day moving average price is $62.86.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DOCU shares. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a research note on Friday, December 6th. Citigroup boosted their price objective on shares of DocuSign from $87.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Needham & Company LLC restated a “hold” rating on shares of DocuSign in a report on Friday, December 6th. Bank of America lifted their target price on shares of DocuSign from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company lifted their target price on shares of DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.45.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.