Evergreen Capital Management LLC Sells 73,206 Shares of Docusign Inc. $DOCU

Key Points

• Evergreen Capital Management LLC reduced its stake in Docusign Inc. by 28.2%, selling 73,206 shares and ending the quarter with 186,667 shares valued at approximately $15.2 million.
• Docusign's recent quarterly earnings exceeded analysts' expectations, reporting an EPS of $0.90 against a consensus estimate of $0.81, with revenue growth of 7.6% year-over-year.
• Institutional investors control 77.64% of Docusign's shares, with significant recent acquisitions by firms such as Dimensional Fund Advisors and Northern Trust.

Evergreen Capital Management LLC lessened its stake in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 28.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 186,667 shares of the company's stock after selling 73,206 shares during the period. Evergreen Capital Management LLC owned 0.09% of Docusign worth $15,195,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction 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 sale, the chief executive officer owned 143,983 shares in the company, valued at approximately $11,160,122.33. This represents a 21.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total value of $1,132,696.40. Following the completion of the sale, the chief financial officer owned 110,723 shares in the company, valued at approximately $8,282,080.40. This trade represents a 12.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,552 shares of company stock worth $5,983,631. 1.66% of the stock is owned by corporate insiders.

Docusign Price Performance

NASDAQ:DOCU traded down $2.59 during trading hours on Tuesday, reaching $74.07. 3,113,213 shares of the stock were exchanged, compared to its average volume of 2,571,292. Docusign Inc. has a twelve month low of $54.31 and a twelve month high of $107.86. The firm has a 50 day moving average of $75.46 and a 200 day moving average of $79.59. The stock has a market cap of $14.97 billion, a PE ratio of 14.00, a PEG ratio of 28.61 and a beta of 1.02.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.81 by $0.09. The company had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%.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 firm posted $0.82 EPS. Docusign has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. Equities research analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign announced that its board has authorized a share repurchase plan on Thursday, June 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy 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.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Robert W. Baird reduced their target price on Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Bank of America decreased their price target on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. JMP Securities reiterated a "market outperform" rating and set a $124.00 price target on shares of Docusign in a research note on Tuesday, June 3rd. Wedbush decreased their price target on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, June 12th. Finally, Citigroup decreased their price target on shares of Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, June 9th. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Docusign has an average rating of "Hold" and an average target price of $89.77.

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.