Sunday, June 26, 2022

A company insider recently sold 255 shares of DocuSign Inc. [DOCU]. Should You also Consider to Sale?

DocuSign Inc.’s recently made public that its Chief Operating Officer OLRICH SCOTT V. unloaded Company’s shares for reported $28129.0 on Apr 05. In the deal valued at $110.31 per share,255 shares were sold. As a result of this transaction, OLRICH SCOTT V. now holds 40,060 shares worth roughly $ 2.39 million.

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Then, OLRICH SCOTT V. sold 3,948 shares, generating $434,623 in total proceeds. Upon selling the shares at $110.09, the Chief Operating Officer now owns 230,663 shares.

Before that, OLRICH SCOTT V. sold 835 shares. DocuSign Inc. shares valued at $91,844 were divested by the Chief Operating Officer at a price of $109.99 per share. As a result of the transaction, OLRICH SCOTT V. now holds 40,315 shares, worth roughly $2.4 million.

Taking this into account, Wolfe Research downgraded its DocuSign Inc. [DOCU] rating to an Underperform from a a Peer perform in a research note published on Tuesday. PT values the company’s stock at a premium of -19.1 to its Tuesday closing price. A number of analysts have revised their coverage, including William Blair’s analysts, who decreased its forecast for the stock in early June from “an Outperform” to “a Mkt perform”. Evercore ISI also remained covering DOCU and has decreased its forecast on June 10, 2022 with a “an In-line” recommendation from previously “an Outperform” rating. BofA Securities revised its rating on June 10, 2022. It rated DOCU as “a Neutral” which previously was an “a Buy”.

Price Performance Review of DOCU

On Tuesday, DocuSign Inc. [NASDAQ:DOCU] saw its stock fall -1.65% to $59.55. On the same session, the stock had its day’s lowest price of $59.48, but rose to a high of $63.41. Over the last five days, the stock has gained 0.73%. DocuSign Inc. shares have fallen nearly -60.90% since the year began. Nevertheless, the stocks have fallen -77.95% over the past one year. While a 52-week high of $314.76 was reached on 01/03/22, a 52-week low of $55.96 was recorded on 06/16/22. SMA at 50 days reached $80.86, while 200 days put it at $157.46. A total of 6.97 million shares were traded, compared to the trading of 7.73 million shares in the previous session.

Levels Of Support And Resistance For DOCU Stock

The 24-hour chart illustrates a support level at 58.22, which if violated will result in even more drops to 56.88. On the upside, there is a resistance level at 62.15. A further resistance level may holdings at 64.74. The Relative Strength Index (RSI) on the 14-day chart is 37.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -14.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.05%. Stochastics %K at 11.80% indicates the stock is a buying.

How much short interest is there in DocuSign Inc.?

A steep rise in short interest was recorded in DocuSign Inc. stocks on Apr 28, 2022, growing by 0.35 million shares to a total of 13.78 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 13.43 million shares. There was a rise of 2.54%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.99% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.38.

DocuSign Inc. [DOCU] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 16,904,844 shares, or roughly 8.46% of the outstanding DOCU shares. In other words, the investor’s shares have risen by 2,938,294 from its previous 13-F filing of 13966550.0. Additionally, T. Rowe Price Associates, Inc. decreased -6.60% of its stake after which the total value it holdings stand at $827,242,762, while BlackRock Fund Advisors added 3.73% of its stake to hold $669.85 million in the firm. Over the last quarter, Capital Research & Management Co purchased 3,193,727 shares of DocuSign Inc., while Polen Capital Management LLC bought 1,813,284 shares. At present, Fisher Asset Management LLC is holding 4,637,015 shares valued at $389.09 million. SSgA Funds Management, Inc. owned 4,173,988 shares of the company at the time of its most recent 13F filing, worth $350.24 million.

According to FactSet, DocuSign Inc.’s share price will average $76.57 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.56 percent from its previous closing price of $60.55. Analysts expect DocuSign Inc. stock to reach the higher price of $151.00, while the lowest price estimate is $50.00. However, 20 analysts have rated DOCU stock as a Hold in their predictions for 2022.

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