2,730,922 Shares in Docusign Inc. $DOCU Purchased by Norges Bank

Key Points

• Norges Bank disclosed a new position in Docusign, buying 2,730,922 shares valued at about $186.8 million, which equals roughly 1.36% ownership of the company.
• Docusign has been active on the AI/product strategy front, including launching its app in ChatGPT and Codex and naming Graham Sheldon as chief product officer to help accelerate its Intelligent Agreement Management vision.
• The stock is drawing mixed signals: Docusign recently beat earnings and revenue estimates and authorized a $2 billion share repurchase program, but analysts still largely rate it Hold and insiders have been selling shares.

Norges Bank acquired a new position in Docusign Inc. (NASDAQ:DOCU - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,730,922 shares of the company's stock, valued at approximately $186,795,000. Norges Bank owned 1.36% of Docusign as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new stake in Docusign in the fourth quarter worth about $25,000. Torren Management LLC acquired a new stake in Docusign in the fourth quarter worth about $28,000. Aventura Private Wealth LLC acquired a new stake in Docusign in the fourth quarter worth about $30,000. True Wealth Design LLC lifted its holdings in Docusign by 105.2% in the 4th quarter. True Wealth Design LLC now owns 433 shares of the company's stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Docusign by 309.5% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 561 shares of the company's stock valued at $38,000 after purchasing an additional 424 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Docusign News Summary

Here are the key news stories impacting Docusign this week:

• Positive Sentiment: Docusign announced its app is now available in ChatGPT and Codex, extending its Intelligent Agreement Management platform into OpenAI products and potentially improving adoption by making agreement workflows easier to use. Docusign Brings Trusted Agreement Intelligence and Workflows into ChatGPT and Codex
• Positive Sentiment: The company appointed Graham Sheldon as Chief Product Officer, a move aimed at accelerating its AI-focused product strategy and strengthening product execution. Docusign Appoints Graham Sheldon as Chief Product Officer to Accelerate Intelligent Agreement Management Vision
• Neutral Sentiment: Investor focus is centered on Thursday’s earnings release, where the key question is whether recent AI initiatives are driving enough momentum to support the stock. DocuSign (DOCU) Q1 Earnings Report Preview: What To Look For
• Neutral Sentiment: Multiple directors sold small amounts of stock, including Anna Marrs, James A. Beer, and Teresa Briggs, but the trades were modest and were executed under Rule 10b5-1 plans, which typically limits their significance. SEC filing: Anna Marrs Form 4
• Neutral Sentiment: Recent commentary also highlighted Docusign as an earnings-watch name, reinforcing that the stock may move on management’s outlook and proof of execution rather than the insider activity. Dear Docusign Stock Fans, Mark Your Calendars for June 4

Docusign Trading Down 4.9%

DOCU stock opened at $52.40 on Thursday. Docusign Inc. has a one year low of $40.16 and a one year high of $94.67. The firm has a market capitalization of $10.18 billion, a PE ratio of 35.41, a P/E/G ratio of 2.10 and a beta of 0.92. The firm has a 50-day moving average of $47.64 and a two-hundred day moving average of $54.33.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.06. Docusign had a net margin of 9.60% and a return on equity of 16.86%. The company had revenue of $836.86 million during the quarter, compared to analyst estimates of $828.23 million. During the same period in the prior year, the firm earned $0.86 earnings per share. The business's quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Docusign Inc. will post 1.76 earnings per share for the current year.

Docusign announced that its board has initiated a share repurchase program on Tuesday, March 17th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 21% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

DOCU has been the subject of several research reports. Piper Sandler reduced their price objective on shares of Docusign from $75.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, March 18th. Morgan Stanley reduced their price objective on shares of Docusign from $90.00 to $69.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 18th. Citizens Jmp reduced their price objective on shares of Docusign from $124.00 to $86.00 and set a "market outperform" rating for the company in a research report on Wednesday, March 18th. Bank of America initiated coverage on shares of Docusign in a research report on Tuesday, March 31st. They set an "underperform" rating and a $52.00 price objective for the company. Finally, Royal Bank Of Canada reduced their price objective on shares of Docusign from $70.00 to $55.00 and set a "sector perform" rating for the company in a research report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $61.40.

Insiders Place Their Bets

In other news, CEO Allan C. Thygesen sold 26,250 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $47.78, for a total value of $1,254,225.00. Following the completion of the sale, the chief executive officer directly owned 152,237 shares of the company's stock, valued at $7,273,883.86. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.83, for a total transaction of $561,960.00. Following the completion of the sale, the insider directly owned 53,631 shares of the company's stock, valued at $2,511,539.73. This trade represents a 18.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 65,126 shares of company stock valued at $3,107,875 over the last ninety days. Insiders own 0.59% of the company's stock.

Docusign Company Profile

DocuSign, Inc NASDAQ: DOCU is a leading provider of electronic signature and digital transaction management solutions. The company's flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign's Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign's platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

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