DocuSign Inc’s filing revealed that its Chief Legal Officer Shaughnessy James P unloaded Company’s shares for reported $0.54 million on Apr 03 ’24. In the deal valued at $59.62 per share,9,000 shares were sold. As a result of this transaction, Shaughnessy James P now holds 37,503 shares worth roughly $2.23 million.
Then, Shaughnessy James P sold 1,800 shares, generating $103,500 in total proceeds. Upon selling the shares at $57.50, the Chief Legal Officer now owns 46,503 shares.
Before that, Thygesen Allan C. sold 7,687 shares. DocuSign Inc shares valued at $456,147 were divested by the President and CEO at a price of $59.34 per share. As a result of the transaction, Thygesen Allan C. now holds 107,632 shares, worth roughly $6.4 million.
Morgan Stanley upgraded its DocuSign Inc [DOCU] rating to an Equal-weight from a an Underweight in a research note published on January 16, 2024; the price target was increased to $64 from $49. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in mid December from “an Equal weight” to “an Underweight”. Daiwa Securities also remained covering DOCU and has decreased its forecast on December 15, 2023 with a “an Outperform” recommendation from previously “Buy” rating. HSBC Securities revised its rating on September 27, 2023. It rated DOCU as “a Hold” which previously was an “a Reduce”.
Price Performance Review of DOCU
On Friday, DocuSign Inc [NASDAQ:DOCU] saw its stock jump 1.14% to $59.47. Over the last five days, the stock has lost -0.13%. DocuSign Inc shares have risen nearly 0.03% since the year began. Nevertheless, the stocks have risen 4.41% over the past one year. While a 52-week high of $64.76 was reached on 01/12/24, a 52-week low of $38.11 was recorded on 02/21/24. SMA at 50 days reached $55.79, while 200 days put it at $50.62. A total of 1.35 million shares were traded, compared to the trading of 2.21 million shares in the previous session.
Levels Of Support And Resistance For DOCU Stock
The 24-hour chart illustrates a support level at 58.63, which if violated will result in even more drops to 57.79. On the upside, there is a resistance level at 59.94. A further resistance level may holdings at 60.41. The Relative Strength Index (RSI) on the 14-day chart is 57.78, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 38.21%. Stochastics %K at 69.67% indicates the stock is a holding.
How much short interest is there in DocuSign Inc?
A steep rise in short interest was recorded in DocuSign Inc stocks on Mar 15, 2024, growing by 2.37 million shares to a total of 7.1 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.73 million shares. There was a rise of 33.38%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.15% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.78.
The most recent change occurred on September 15, 2023 when HSBC Securities began covering the stock and recommended ‘”a Reduce”‘ rating along with a $42 price target.
