Docusign Inc. $DOCU Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Docusign by 22.5%, selling 10,198 shares, bringing its total to 35,175 shares valued at approximately $2.74 million.
• CEO Allan C. Thygesen sold 40,000 shares for $3.1 million, representing a 21.74% reduction in his ownership, while CFO Blake Jeffrey Grayson also sold 9,509 shares.
• Several brokerages recently increased their price targets for Docusign, with recommendations ranging from a neutral rating to a market outperform rating, and an average price target set at $94.14.

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 22.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,175 shares of the company's stock after selling 10,198 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Docusign were worth $2,740,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lifestyle Asset Management Inc. boosted its position in Docusign by 8.6% during the 2nd quarter. Lifestyle Asset Management Inc. now owns 13,077 shares of the company's stock worth $1,019,000 after purchasing an additional 1,040 shares during the period. Sandbox Financial Partners LLC purchased a new stake in Docusign during the 2nd quarter worth $350,000. MassMutual Private Wealth & Trust FSB boosted its position in Docusign by 31.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 595 shares of the company's stock worth $46,000 after purchasing an additional 142 shares during the period. Hedges Asset Management LLC purchased a new stake in Docusign during the 2nd quarter worth $206,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Docusign by 11.7% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,145 shares of the company's stock worth $167,000 after purchasing an additional 225 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $77.51, for a total value of $3,100,400.00. Following the completion of the transaction, the chief executive officer directly owned 143,983 shares of the company's stock, valued at $11,160,122.33. This represents a 21.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 9,509 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $83.10, for a total value of $790,197.90. Following the completion of the transaction, the chief financial officer directly owned 112,160 shares of the company's stock, valued at $9,320,496. This trade represents a 7.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,533 shares of company stock worth $6,598,028. 1.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DOCU. Robert W. Baird upped their price target on shares of Docusign from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research report on Friday, September 5th. UBS Group set a $95.00 target price on Docusign in a research note on Friday, September 5th. Piper Sandler lifted their target price on Docusign from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $124.00 price target on shares of Docusign in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $94.14.

Docusign Trading Down 0.5%

NASDAQ:DOCU opened at $84.59 on Friday. The firm has a market capitalization of $17.01 billion, a PE ratio of 63.60, a price-to-earnings-growth ratio of 4.43 and a beta of 1.02. The stock has a 50 day moving average of $76.39 and a 200-day moving average of $79.28. Docusign Inc. has a 52 week low of $57.58 and a 52 week high of $107.86.

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

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

About Docusign

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.

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