Comerica Bank Reduces Holdings in Docusign Inc. $DOCU

Key Points

• Comerica Bank has reduced its stake in Docusign Inc. by 22.3%, now holding 72,599 shares valued at approximately $5.9 million after selling 20,795 shares.
• Docusign reported better-than-expected earnings with an EPS of $0.90 for the latest quarter, exceeding the consensus estimate of $0.81, alongside a revenue of $763.65 million.
• The company's board has approved a $1 billion stock repurchase program, signaling confidence in the stock's current valuation amidst recent analyst downgrades.

Comerica Bank decreased its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 22.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,599 shares of the company's stock after selling 20,795 shares during the period. Comerica Bank's holdings in Docusign were worth $5,910,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hemington Wealth Management increased its holdings in shares of Docusign by 318.1% in the 1st quarter. Hemington Wealth Management now owns 347 shares of the company's stock worth $28,000 after buying an additional 264 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Docusign by 519.4% in the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after buying an additional 322 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Docusign in the 1st quarter worth $34,000. Wood Tarver Financial Group LLC bought a new position in shares of Docusign in the 4th quarter worth $37,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Docusign by 153.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock worth $37,000 after buying an additional 274 shares during the last quarter. Institutional investors own 77.64% of the company's stock.

Insider Activity at Docusign

In other news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $74.37, for a total value of $39,713.58. Following the completion of the sale, the director directly owned 8,805 shares of the company's stock, valued at approximately $654,827.85. This trade represents a 5.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Chatwani sold 22,875 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the completion of the sale, the insider directly owned 72,126 shares of the company's stock, valued at approximately $5,394,303.54. This represents a 24.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,552 shares of company stock valued at $5,983,631. 1.66% of the stock is currently owned by company insiders.

Docusign Price Performance

DOCU traded down $2.76 during trading on Tuesday, hitting $73.90. 1,313,103 shares of the stock traded hands, compared to its average volume of 2,560,058. The firm has a market capitalization of $14.93 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 28.61 and a beta of 1.02. The firm has a 50-day moving average of $75.46 and a 200 day moving average of $79.59. Docusign Inc. has a 12-month low of $54.31 and a 12-month high of $107.86.

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

Docusign announced that its board has approved a stock buyback program on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on DOCU. Wells Fargo & Company raised shares of Docusign from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $67.00 to $80.00 in a report on Friday, June 13th. Wedbush reduced their target price 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. Citigroup reduced their target price on shares of Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, June 9th. Morgan Stanley reduced their target price on shares of Docusign from $92.00 to $86.00 and set an "equal weight" rating on the stock 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 research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Docusign currently has a consensus rating of "Hold" and an average price target of $89.77.

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.