Traders Purchase Large Volume of Call Options on Docusign (DOCU)

Share on StockTwits

Docusign Inc (NASDAQ:DOCU) was the recipient of unusually large options trading activity on Thursday. Traders acquired 15,428 call options on the stock. This is an increase of 856% compared to the average volume of 1,613 call options.

Shares of DOCU opened at $58.85 on Friday. Docusign has a 1-year low of $35.06 and a 1-year high of $68.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.91 and a quick ratio of 2.91.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 14th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.29. The business had revenue of $199.73 million during the quarter, compared to analyst estimates of $193.63 million. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. Equities research analysts forecast that Docusign will post -2.5 EPS for the current year.

In other news, CRO Loren Alhadeff sold 12,000 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $54.35, for a total value of $652,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kirsten O. Wolberg sold 28,310 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $46.10, for a total transaction of $1,305,091.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 814,317 shares of company stock worth $39,150,912.

Several hedge funds have recently made changes to their positions in DOCU. Accel London III Associates L.P. acquired a new position in shares of Docusign in the fourth quarter valued at approximately $98,230,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Docusign by 60.1% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,087,761 shares of the company’s stock valued at $203,917,000 after purchasing an additional 1,909,833 shares in the last quarter. FMR LLC grew its holdings in shares of Docusign by 40.6% in the fourth quarter. FMR LLC now owns 5,343,427 shares of the company’s stock valued at $214,165,000 after purchasing an additional 1,544,047 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Docusign in the fourth quarter valued at approximately $56,620,000. Finally, Morgan Stanley grew its holdings in shares of Docusign by 539.1% in the third quarter. Morgan Stanley now owns 1,148,284 shares of the company’s stock valued at $60,366,000 after purchasing an additional 968,599 shares in the last quarter. Hedge funds and other institutional investors own 54.41% of the company’s stock.

Several equities analysts have recently weighed in on DOCU shares. Deutsche Bank raised shares of Docusign from a “hold” rating to a “buy” rating and raised their price target for the stock from $50.00 to $65.00 in a research note on Tuesday, February 12th. Morgan Stanley raised their price target on shares of Docusign from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Friday, December 7th. Zacks Investment Research upgraded shares of Docusign from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Goldman Sachs Group assumed coverage on shares of Docusign in a research report on Thursday, December 13th. They set a “neutral” rating and a $45.00 price target for the company. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $50.00 price target on shares of Docusign in a research report on Friday, December 7th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $60.58.

COPYRIGHT VIOLATION NOTICE: “Traders Purchase Large Volume of Call Options on Docusign (DOCU)” was first reported by Week Herald and is the property of of Week Herald. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://weekherald.com/2019/03/15/traders-purchase-large-volume-of-call-options-on-docusign-docu.html.

About Docusign

DocuSign, Inc provides cloud based transaction products and services in the United States. The company offers e-signature solution that enables businesses to digitally prepare, execute, and act on agreements. It serves large enterprises, sole proprietorships, small- to medium-sized businesses, professionals, and individuals.

Featured Story: Trading Stocks – What are percentage gainers?

Receive News & Ratings for Docusign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Docusign and related companies with MarketBeat.com's FREE daily email newsletter.