Docusign Inc. $DOCU Shares Sold by Virtus Advisers LLC

Key Points

• Virtus Advisers LLC significantly reduced its stake in Docusign by 93.7%, selling 15,504 shares and holding just 1,036 shares at the end of the first quarter.
• Several institutional investors increased their positions in Docusign, with Hemington Wealth Management raising its stake by 318.1% and Golden State Wealth Management increasing by 519.4% during the same period.
• Docusign's earnings report showed a revenue of $763.65 million for the quarter, exceeding analysts' expectations, while the company also authorized a stock buyback plan worth $1 billion, indicating management's belief that shares are undervalued.

Virtus Advisers LLC decreased its position in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 93.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,036 shares of the company's stock after selling 15,504 shares during the quarter. Virtus Advisers LLC's holdings in Docusign were worth $84,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC boosted its holdings in Docusign by 738.2% during 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 boosted its holdings in Docusign by 54.3% during the first 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 in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Docusign during the 1st quarter worth approximately $618,000. Gilman Hill Asset Management LLC raised its stake in shares of Docusign by 4.9% during 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 raised its stake in shares of Docusign by 1.7% during 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DOCU shares. UBS Group reduced their target price on Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Citigroup reduced their target price on Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, June 9th. JMP Securities reiterated a "market outperform" rating and set a $124.00 price objective on shares of Docusign in a research note on Tuesday, June 3rd. Wedbush reduced their target price on Docusign from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, June 12th. Finally, Wells Fargo & Company raised Docusign from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $67.00 to $80.00 in a report on Friday, June 13th. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, Docusign presently has a consensus rating of "Hold" and an average target price of $89.77.

Insider Buying and Selling

In other Docusign news, insider Robert Chatwani sold 22,875 shares of the business's stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 110,723 shares in the company, valued at $8,282,080.40. The trade was a 12.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,552 shares of company stock valued at $5,983,631 over the last ninety days. 1.01% of the stock is currently owned by company insiders.

Docusign Stock Performance

Shares of DOCU stock traded up $1.15 during trading hours on Friday, reaching $76.66. The company had a trading volume of 2,272,539 shares, compared to its average volume of 2,302,764. The stock has a fifty day moving average of $75.41 and a 200-day moving average of $79.73. The company has a market capitalization of $15.49 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 28.61 and a beta of 1.01. 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 posted its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.09. The business had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%.The business's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. Docusign has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, analysts forecast that Docusign Inc. will post 1.17 EPS for the current year.

Docusign announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are 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.