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

DocuSign, Inc. (NASDAQ:DOCU) saw some unusual options trading on Tuesday. Stock traders acquired 24,012 call options on the stock. This represents an increase of 62% compared to the typical daily volume of 14,793 call options.

Insider Activity at DocuSign

In other DocuSign news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.56, for a total value of $30,203.04. Following the sale, the director now owns 7,202 shares in the company, valued at approximately $407,345.12. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $67.83, for a total transaction of $508,725.00. Following the transaction, the insider now owns 43,301 shares of the company’s stock, valued at $2,937,106.83. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,596 shares of company stock worth $4,441,529 over the last ninety days. 1.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DocuSign

Hedge funds and other institutional investors have recently made changes to their positions in the business. Inspire Investing LLC bought a new stake in DocuSign during the third quarter valued at approximately $911,000. Charles Schwab Investment Management Inc. grew its position in shares of DocuSign by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,328,355 shares of the company’s stock valued at $82,478,000 after acquiring an additional 16,014 shares during the period. International Assets Investment Management LLC grew its position in shares of DocuSign by 5,660.8% during the 3rd quarter. International Assets Investment Management LLC now owns 438,914 shares of the company’s stock valued at $27,252,000 after acquiring an additional 431,295 shares during the period. Quantinno Capital Management LP increased its stake in shares of DocuSign by 39.5% in the 3rd quarter. Quantinno Capital Management LP now owns 201,546 shares of the company’s stock worth $12,514,000 after purchasing an additional 57,104 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in DocuSign by 7.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,296,517 shares of the company’s stock worth $80,501,000 after purchasing an additional 85,987 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

DocuSign stock opened at $95.85 on Wednesday. DocuSign has a one year low of $48.70 and a one year high of $107.86. The stock has a fifty day moving average of $75.46 and a 200 day moving average of $62.36. The stock has a market cap of $19.45 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 11.08 and a beta of 0.92.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Jefferies Financial Group raised their price objective on shares of DocuSign from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. JMP Securities upped their target price on shares of DocuSign from $108.00 to $124.00 and gave the stock a “market outperform” rating in a research note on Friday, December 6th. Robert W. Baird raised their price target on shares of DocuSign from $59.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Citigroup boosted their price objective on shares of DocuSign from $87.00 to $113.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.