Docusign Inc. $DOCU Shares Bought by Allstate Corp

Key Points

• Allstate Corp increased its stake in Docusign by 71.7% in Q1, now holding 10,136 shares valued at approximately $825,000.
• Other institutional investors like Wellington Management Group saw a significant increase in their holdings, growing by 372.5%, now accounting for over 77.64% of Docusign's stock ownership.
• Docusign declared a $1 billion share buyback plan, suggesting that its leadership believes the shares are currently undervalued.

Allstate Corp boosted its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 71.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,136 shares of the company's stock after buying an additional 4,233 shares during the quarter. Allstate Corp's holdings in Docusign were worth $825,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DOCU. Hemington Wealth Management increased its holdings in Docusign by 318.1% during the first quarter. Hemington Wealth Management now owns 347 shares of the company's stock valued at $28,000 after buying an additional 264 shares during the period. Golden State Wealth Management LLC increased its holdings in Docusign by 519.4% during the first quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock valued at $31,000 after buying an additional 322 shares during the period. Summit Securities Group LLC purchased a new position in Docusign during the first quarter valued at approximately $34,000. Wood Tarver Financial Group LLC purchased a new position in Docusign during the fourth quarter valued at approximately $37,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Docusign by 153.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock valued at $37,000 after buying an additional 274 shares during the period. 77.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on DOCU. Robert W. Baird cut their price objective on shares of Docusign from $93.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. UBS Group cut their price objective on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Wedbush cut their price target on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, June 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a report on Friday, June 6th. Finally, Wall Street Zen lowered shares of Docusign from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Four equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $89.77.

Insider Buying and Selling at Docusign

In related news, Director Teresa Briggs sold 534 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $74.37, for a total transaction of $39,713.58. Following the completion of the transaction, the director directly owned 8,805 shares in the company, valued at $654,827.85. The trade was a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the transaction, the chief financial officer owned 110,723 shares of the company's stock, valued at $8,282,080.40. This represents a 12.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,552 shares of company stock valued at $5,983,631. Company insiders own 1.01% of the company's stock.

Docusign Trading Up 1.1%

Shares of NASDAQ:DOCU traded up $0.83 on Thursday, hitting $75.51. 1,232,512 shares of the company were exchanged, compared to its average volume of 2,569,891. Docusign Inc. has a 1-year low of $54.31 and a 1-year high of $107.86. The stock's 50 day moving average price is $75.38 and its 200 day moving average price is $79.87. The firm has a market capitalization of $15.26 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 27.06 and a beta of 1.01.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.81 by $0.09. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The business had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. During the same period in the previous year, the firm posted $0.82 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Docusign has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, equities analysts predict that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its board has initiated a share repurchase plan on Thursday, June 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

Docusign Company 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.