Docusign Inc. $DOCU Position Cut by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC significantly reduced its stake in Docusign Inc. by selling 737,665 shares, leading to a 96.7% decrease in its holdings during the first quarter.
• Docusign reported earnings per share (EPS) of $0.92 for the quarter, exceeding estimates, with quarterly revenue of $800.64 million, marking an 8.8% year-over-year increase.
• The company has initiated a $1.00 billion share buyback plan, reflecting management's belief that the stock is undervalued, while analysts maintain a consensus rating of "Hold" with an average price target of $94.14.

Acadian Asset Management LLC lessened its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 96.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,050 shares of the company's stock after selling 737,665 shares during the period. Acadian Asset Management LLC's holdings in Docusign were worth $2,036,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DOCU. Janus Henderson Group PLC increased its holdings in Docusign by 13.1% in the fourth quarter. Janus Henderson Group PLC now owns 13,691 shares of the company's stock valued at $1,231,000 after purchasing an additional 1,581 shares during the period. ProShare Advisors LLC bought a new position in shares of Docusign during the 4th quarter worth about $886,000. Rafferty Asset Management LLC raised its holdings in shares of Docusign by 33.8% in the 4th quarter. Rafferty Asset Management LLC now owns 27,594 shares of the company's stock worth $2,482,000 after acquiring an additional 6,967 shares during the last quarter. Snowden Capital Advisors LLC acquired a new stake in shares of Docusign in the 4th quarter worth about $546,000. Finally, Toronto Dominion Bank increased its stake in Docusign by 1.3% in the 4th quarter. Toronto Dominion Bank now owns 26,508 shares of the company's stock valued at $2,384,000 after buying an additional 349 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Docusign

In other news, CFO Blake Jeffrey Grayson sold 9,509 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $83.10, for a total transaction of $790,197.90. Following the completion of the sale, the chief financial officer owned 112,160 shares in the company, valued at approximately $9,320,496. The trade was a 7.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter Solvik sold 15,000 shares of Docusign stock in a transaction on Monday, September 15th. The shares were sold at an average price of $81.48, for a total transaction of $1,222,200.00. Following the completion of the transaction, the director directly owned 135,253 shares in the company, valued at $11,020,414.44. The trade was a 9.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,533 shares of company stock valued at $6,598,028 over the last quarter. 1.01% of the stock is owned by insiders.

Docusign Trading Down 0.5%

Shares of DOCU stock traded down $0.42 during trading hours on Friday, hitting $84.59. The company's stock had a trading volume of 4,516,106 shares, compared to its average volume of 3,404,911. The company has a 50 day moving average of $76.39 and a 200 day moving average of $79.30. The stock has a market cap of $17.01 billion, a PE ratio of 63.60, a price-to-earnings-growth ratio of 4.46 and a beta of 1.02. Docusign Inc. has a 12-month low of $57.58 and a 12-month high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.84 by $0.08. Docusign had a net margin of 9.08% and a return on equity of 14.01%. The business had revenue of $800.64 million for the quarter, compared to the consensus estimate of $780.35 million. During the same period in the prior year, the firm earned $0.97 EPS. The business's revenue for the quarter was up 8.8% on a year-over-year basis. Docusign has set its Q3 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign announced that its board has approved a stock repurchase program on Thursday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DOCU. Wall Street Zen upgraded shares of Docusign from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. UBS Group set a $95.00 price target on shares of Docusign in a research note on Friday, September 5th. Bank of America upped their price objective on shares of Docusign from $85.00 to $102.00 and gave the company a "neutral" rating in a research note on Friday, September 5th. Evercore ISI boosted their price target on shares of Docusign from $90.00 to $92.00 and gave the company an "in-line" rating in a research report on Friday, September 5th. Finally, Citigroup upped their price objective on shares of Docusign from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Docusign has a consensus rating of "Hold" and an average price target of $94.14.

Docusign Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.