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

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. DocuSign Inc. shares valued at $28,129 were sold by OLRICH SCOTT V. on Apr 05. At $110.31 per share, OLRICH SCOTT V. sold 255 shares. The insider’s holdings dropped to 40,060 shares worth approximately $2.85 million following the completion of this transaction.

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Also, OLRICH SCOTT V. sold 3,948 shares, netting a total of over 434,623 in proceeds. Following the sale of shares at $110.09 each, the insider now holds 230,663 shares.

Before that, OLRICH SCOTT V. had sold 835 shares from its account. In a trade valued at $91,844, the Chief Operating Officer traded DocuSign Inc. shares for $109.99 each. Upon closing the transaction, the insider’s holdings decreased to 835 shares, worth approximately $2.87 million.

As published in a research note from Piper Sandler on July 21, 2022, DocuSign Inc. [DOCU] has been rated down from a Neutral to an Underweight and the price target has been revised to $54 from $65. This represents a -31.83% premium over Thursday’s closing price. Analysts at Wolfe Research downgraded the stock from ‘”a Peer perform”‘ to ‘”an Underperform”‘ outlook in a report released in mid June. As of June 10, 2022, William Blair has decreased its “an Outperform” rating to a “Mkt perform” for DOCU. Earlier on June 10, 2022, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for DOCU stock which previously was a “an Outperform”.

Analyzing DOCU’s Price Performance

On Thursday, DocuSign Inc. [NASDAQ: DOCU] rose 0.10% to $71.19. The stock’s lowest price that day was $69.18, but it reached a high of $71.66 in the same session. During the last five days, there has been a surge of approximately 10.56%. Over the course of the year, DocuSign Inc. shares have dropped approximately -53.26%. Shares of the company reached a 52-week high of $157.37 on 01/03/22 and a 52-week low of $55.86 on 06/30/22. A 50-day SMA is recorded $68.37, while a 200-day SMA reached $125.78. Nevertheless, trading volume fell to 1.81 million shares from 2.32 million shares the previous day.

Support And Resistance Levels for DocuSign Inc. (DOCU)

According to the 24-hour chart, there is a support level at 69.69, which, if violated, would cause prices to drop to 68.20. In the upper region, resistance lies at 72.17. The next price resistance is at 73.16. RSI (Relative Strength Index) is 58.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.29, which suggests the price will increase in the coming days. Percent R is at 3.99%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is DocuSign Inc. subject to short interest?

Stocks of DocuSign Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.73 million shares to 16.7 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.97 million shares. A jump of 16.35% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.29 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.29.

Which companies own the most shares of DocuSign Inc. (DOCU)?

According to The Vanguard Group, Inc. filings, the company currently owns 16,904,844 shares, which is about 8.46% of the total DOCU shares outstanding. The investor’s shares have appreciated by 2,938,294 from its previous 13-F filing of 13966550.0 shares. With the completion of the sale transaction, T. Rowe Price Associates, Inc.’s stake is now worth $565,691,690. BlackRock Fund Advisors acquire a 3.73% interest valued at $458.06 million while Capital Research & Management Co purchased a 3,193,727 stake. A total of 1,813,284 shares of DocuSign Inc. were bought by Polen Capital Management LLC during the quarter, and 1,584,989 were bought by Fisher Asset Management LLC. In its current portfolio, SSgA Funds Management, Inc. holds 4,173,988 shares valued at $239.5 million.

In terms of DocuSign Inc. share price expectations, FactSet research, analysts set an average price target of $75.03 in the next 12 months, down nearly -1.57% from the previous closing price of $71.12. Analysts anticipate DocuSign Inc. stock to reach $151.00 by 2022, with the lowest price target being $50.00. In spite of this, 20 analysts ranked DocuSign Inc. stock as a Hold at the end of 2022. On June 10, 2022, BofA Securities assigned a price target of “a Neutral” to the stock and downgraded coverage with a $72.


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