Driehaus Capital Management LLC Grows Position in Docusign Inc. $DOCU

Key Points

• Driehaus Capital Management LLC increased its stake in Docusign by 31%, acquiring an additional 67,972 shares, raising its total ownership to 287,428 shares valued at approximately $23.4 million.
• In recent analyst reports, Bank of America and Citigroup adjusted their price targets for Docusign, with the consensus rating remaining a "Hold" and an average price target of $89.77.
• Docusign authorized a $1 billion share buyback plan, indicating management's belief that the stock may be undervalued, with shares up 1.5% recently.

Driehaus Capital Management LLC lifted its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 31.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 287,428 shares of the company's stock after purchasing an additional 67,972 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.14% of Docusign worth $23,397,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DOCU. Wellington Management Group LLP boosted its position in shares of Docusign by 372.5% in the 1st quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company's stock valued at $148,714,000 after purchasing an additional 1,440,269 shares during the period. Pacer Advisors Inc. lifted its position in Docusign by 809.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,167,290 shares of the company's stock worth $95,017,000 after acquiring an additional 1,038,962 shares during the period. Northern Trust Corp lifted its position in Docusign by 77.2% during the 4th quarter. Northern Trust Corp now owns 1,984,378 shares of the company's stock worth $178,475,000 after acquiring an additional 864,408 shares during the period. Nuveen LLC acquired a new stake in Docusign during the 1st quarter worth approximately $50,459,000. Finally, Victory Capital Management Inc. lifted its position in Docusign by 251.0% during the 1st quarter. Victory Capital Management Inc. now owns 734,588 shares of the company's stock worth $59,795,000 after acquiring an additional 525,294 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

Docusign Stock Up 2.6%

NASDAQ DOCU traded up $1.93 during mid-day trading on Wednesday, hitting $76.00. The stock had a trading volume of 1,878,946 shares, compared to its average volume of 2,565,978. Docusign Inc. has a 52-week low of $54.31 and a 52-week high of $107.86. The company has a market cap of $15.36 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 28.61 and a beta of 1.02. The company has a 50 day simple moving average of $75.43 and a 200 day simple moving average of $79.56.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data 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. Docusign had a return on equity of 14.27% and a net margin of 36.50%.The firm had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. During the same period last year, the business posted $0.82 EPS. Docusign's quarterly revenue 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 analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen cut Docusign from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Docusign in a research report on Friday, June 6th. Citigroup decreased their price objective on Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, June 9th. JPMorgan Chase & Co. cut their target price on Docusign from $81.00 to $77.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Finally, Robert W. Baird cut their target price on Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $89.77.

Insider Transactions at Docusign

In related news, CEO Allan C. Thygesen sold 40,000 shares of the firm's 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 trade represents a 21.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction that occurred on 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 transaction, the director directly owned 8,805 shares of the company's stock, valued at $654,827.85. The trade was a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,552 shares of company stock valued at $5,983,631. Company insiders own 1.66% of the company's stock.

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.