Investors Purchase High Volume of Docusign Call Options (NASDAQ:DOCU)

Docusign Inc (NASDAQ:DOCU) was the recipient of some unusual options trading activity on Monday. Stock investors acquired 20,069 call options on the stock. This is an increase of approximately 2,405% compared to the typical daily volume of 801 call options.

In other news, CRO Loren Alhadeff sold 11,579 shares of Docusign stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $53.12, for a total value of $615,076.48. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction of $548,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,456 shares of company stock worth $3,167,452. Insiders own 13.60% of the company’s stock.

A number of large investors have recently made changes to their positions in DOCU. Sonora Investment Management LLC bought a new stake in Docusign during the 1st quarter worth about $31,000. Clean Yield Group bought a new stake in Docusign during the 1st quarter worth about $31,000. Private Capital Group LLC grew its position in shares of Docusign by 173.0% during the 4th quarter. Private Capital Group LLC now owns 819 shares of the company’s stock worth $33,000 after buying an additional 519 shares during the period. Parallel Advisors LLC grew its position in shares of Docusign by 244.1% during the 4th quarter. Parallel Advisors LLC now owns 905 shares of the company’s stock worth $36,000 after buying an additional 642 shares during the period. Finally, Caz Investments LP grew its position in shares of Docusign by 86.6% during the 4th quarter. Caz Investments LP now owns 933 shares of the company’s stock worth $37,000 after buying an additional 433 shares during the period. 61.15% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on DOCU. ValuEngine downgraded shares of Docusign from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Wedbush restated a “hold” rating and issued a $48.00 price objective on shares of Docusign in a research note on Friday, June 7th. William Blair restated an “outperform” rating on shares of Docusign in a research note on Friday, June 7th. Finally, Piper Jaffray Companies lifted their price target on shares of Docusign from $50.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, March 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Docusign presently has an average rating of “Buy” and a consensus target price of $61.50.

Shares of NASDAQ:DOCU traded down $0.34 on Wednesday, hitting $49.49. The stock had a trading volume of 1,441,759 shares, compared to its average volume of 2,411,892. The company has a 50 day moving average of $52.53. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.00. Docusign has a twelve month low of $35.06 and a twelve month high of $68.35. The company has a market cap of $8.72 billion, a P/E ratio of -17.07 and a beta of 1.79.

Docusign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, June 6th. The company reported $0.07 earnings per share (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 firm’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share. On average, sell-side analysts forecast that Docusign will post -0.99 EPS for the current fiscal year.

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.

Further Reading: Forex

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