Insider Selling: OLRICH SCOTT V., DocuSign Inc. [DOCU] Chief Operating Officer divested 255 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $2.19 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 $2.2 million.

As published in a research note from JP Morgan on September 09, 2022, DocuSign Inc. [DOCU] has been rated up from an Underweight to a Neutral and the price target has been revised to $65. This represents a 16.0% premium over Wednesday’s closing price. Analysts at RBC Capital Mkts downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in late August. As of July 21, 2022, Piper Sandler has decreased its “Neutral” rating to a “an Underweight” for DOCU. Earlier on June 13, 2022, Wolfe Research downgraded its rating. Their new recommendation was “an Underperform” for DOCU stock which previously was a “a Peer perform”.

Analyzing DOCU’s Price Performance

On Wednesday, DocuSign Inc. [NASDAQ: DOCU] plunged -1.69% to $54.60. The stock’s lowest price that day was $54.55, but it reached a high of $57.6685 in the same session. During the last five days, there has been a drop of approximately -9.83%. Over the course of the year, DocuSign Inc. shares have dropped approximately -64.15%. Shares of the company reached a 52-week high of $157.37 on 01/03/22 and a 52-week low of $53.25 on 09/07/22. A 50-day SMA is recorded $63.75, while a 200-day SMA reached $93.13. Nevertheless, trading volume fell to 3.7 million shares from 3.36 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 53.54, which, if violated, would cause prices to drop to 52.49. In the upper region, resistance lies at 56.66. The next price resistance is at 58.72. RSI (Relative Strength Index) is 37.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.44, which suggests the price will decrease in the coming days. Percent R is at 90.43%, indicating bearish price movement. Stochastics %K at buying 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 17,849,723 shares, which is about 8.93% of the total DOCU shares outstanding. The investor’s shares have appreciated by 944,879 from its previous 13-F filing of 16904844.0 shares. With the completion of the buy transaction, Polen Capital Management LLC’s stake is now worth $501,458,117. Capital Research & Management Co acquire a 48.60% interest valued at $491.75 million while BlackRock Fund Advisors purchased a 140,104 stake. A total of 3,427,070 shares of DocuSign Inc. were bought by Flossbach von Storch AG during the quarter, and 580,748 were bought by Fisher Asset Management LLC. In its current portfolio, SSgA Funds Management, Inc. holds 4,189,189 shares valued at $243.89 million.

In terms of DocuSign Inc. share price expectations, FactSet research, analysts set an average price target of $70.28 in the next 12 months, up nearly 21.53% from the previous closing price of $55.54. Analysts anticipate DocuSign Inc. stock to reach $93.00 by 2022, with the lowest price target being $53.00. In spite of this, 21 analysts ranked DocuSign Inc. stock as a Hold at the end of 2022.

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