Docusign Target of Unusually High Options Trading (DOCU)

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Docusign Inc (NASDAQ:DOCU) saw unusually large options trading on Thursday. Stock traders purchased 15,428 call options on the stock. This is an increase of approximately 856% compared to the average daily volume of 1,613 call options.

Several research analysts recently weighed in on the company. Wedbush raised their target price on Docusign from $48.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday. Piper Jaffray Companies raised their target price on Docusign from $50.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, March 11th. Deutsche Bank raised Docusign from a “hold” rating to a “buy” rating and raised their target price for the company from $50.00 to $65.00 in a research note on Tuesday, February 12th. Morgan Stanley reaffirmed a “hold” rating on shares of Docusign in a research note on Sunday, December 9th. Finally, Zacks Investment Research cut Docusign from a “hold” rating to a “sell” rating in a research note on Tuesday, December 11th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.75.

NASDAQ:DOCU opened at $56.47 on Friday. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.53. Docusign has a 1-year low of $35.06 and a 1-year high of $68.35.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). The company had revenue of $199.73 million during the quarter, compared to analyst estimates of $193.63 million. Docusign’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities analysts anticipate that Docusign will post -2.5 EPS for the current year.

In related news, Director Keith J. Krach sold 51,982 shares of the firm’s stock in a transaction dated Friday, December 21st. The stock was sold at an average price of $40.34, for a total transaction of $2,096,953.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Loren Alhadeff sold 12,000 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $54.35, for a total value of $652,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 814,317 shares of company stock valued at $39,150,912.

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in Docusign by 40.6% in the 4th quarter. FMR LLC now owns 5,343,427 shares of the company’s stock worth $214,165,000 after acquiring an additional 1,544,047 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Docusign by 60.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,087,761 shares of the company’s stock worth $203,917,000 after acquiring an additional 1,909,833 shares in the last quarter. BlackRock Inc. lifted its stake in Docusign by 17.9% in the 4th quarter. BlackRock Inc. now owns 2,485,042 shares of the company’s stock worth $99,601,000 after acquiring an additional 376,642 shares in the last quarter. Accel London III Associates L.P. purchased a new stake in shares of Docusign during the 4th quarter worth about $98,230,000. Finally, Vanguard Group Inc. raised its stake in shares of Docusign by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,922,947 shares of the company’s stock worth $101,089,000 after purchasing an additional 69,428 shares in the last quarter. 54.41% of the stock is owned by hedge funds and other institutional investors.

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Docusign Company Profile

DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.

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