Corebridge Financial Inc. Reduces Stock Holdings in Docusign Inc. $DOCU

Key Points

• Corebridge Financial Inc. has reduced its stake in Docusign Inc. by 2.9%, owning 225,342 shares valued at $18.34 million as of the end of the first quarter.
• Recent analyst reports show a mixed outlook for Docusign, with upgrades and downgrades from several firms, leaving the stock with an average rating of "Hold" and an average price target of $89.77.
• Docusign reported positive earnings results, exceeding analyst expectations with $0.90 earnings per share and $763.65 million in revenue for the recent quarter, alongside the announcement of a $1 billion share buyback program.

Corebridge Financial Inc. reduced its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,342 shares of the company's stock after selling 6,663 shares during the period. Corebridge Financial Inc. owned 0.11% of Docusign worth $18,343,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC raised its stake in Docusign by 738.2% in the first quarter. New Age Alpha Advisors LLC now owns 41,187 shares of the company's stock worth $3,353,000 after buying an additional 36,273 shares in the last quarter. Pinpoint Asset Management Ltd grew its position in shares of Docusign by 54.3% in the 1st quarter. Pinpoint Asset Management Ltd now owns 56,985 shares of the company's stock worth $4,639,000 after buying an additional 20,043 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in shares of Docusign in the 1st quarter worth about $618,000. Gilman Hill Asset Management LLC grew its position in shares of Docusign by 4.9% in the 1st quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company's stock worth $6,864,000 after buying an additional 3,904 shares during the period. Finally, Blair William & Co. IL grew its position in shares of Docusign by 1.7% in the 1st quarter. Blair William & Co. IL now owns 387,542 shares of the company's stock worth $31,546,000 after buying an additional 6,460 shares during the period. 77.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DOCU. Bank of America reduced their target price on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Needham & Company LLC reissued a "hold" rating on shares of Docusign in a report on Friday, June 6th. Citigroup dropped their target price on Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, June 9th. JPMorgan Chase & Co. dropped their target price on Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Finally, Wedbush dropped their target price on Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, June 12th. Four equities 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.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $89.77.

Docusign Price Performance

NASDAQ DOCU traded up $1.15 during mid-day trading on Friday, reaching $76.66. The stock had a trading volume of 2,272,539 shares, compared to its average volume of 2,302,764. Docusign Inc. has a 1 year low of $54.31 and a 1 year high of $107.86. The stock has a market cap of $15.49 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 28.61 and a beta of 1.01. The company has a fifty day moving average price of $75.41 and a 200 day moving average price of $79.73.

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

Docusign declared that its Board of Directors has initiated a stock repurchase program on Thursday, June 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Activity at Docusign

In other news, insider Robert Chatwani sold 22,875 shares of Docusign stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total value of $1,710,821.25. Following the completion of the sale, the insider directly owned 72,126 shares in the company, valued at $5,394,303.54. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of Docusign stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total transaction of $3,100,400.00. Following the completion of the sale, the chief executive officer owned 143,983 shares of the company's stock, valued at $11,160,122.33. This represents a 21.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,552 shares of company stock valued at $5,983,631. Insiders own 1.01% of the company's stock.

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.