Formidable Asset Management LLC Purchases 5,169 Shares of Docusign Inc. $DOCU

Key Points

• Formidable Asset Management LLC increased its holdings in Docusign Inc. by 109.1%, acquiring an additional 5,169 shares, raising its total ownership to nearly 10,000 shares valued at approximately $788,000.
• Several institutional investors, including Banque Transatlantique SA and Hemington Wealth Management, also made significant adjustments to their stakes in Docusign, indicating growing interest from the financial sector.
• Docusign reported earnings of $0.92 per share for its most recent quarter, exceeding analysts' expectations and showing an 8.8% revenue increase compared to the same period last year.

Formidable Asset Management LLC increased its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 109.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,905 shares of the company's stock after buying an additional 5,169 shares during the quarter. Formidable Asset Management LLC's holdings in Docusign were worth $788,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Banque Transatlantique SA purchased a new stake in shares of Docusign in the 1st quarter valued at approximately $26,000. Hemington Wealth Management boosted its position in shares of Docusign by 318.1% in the first quarter. Hemington Wealth Management now owns 347 shares of the company's stock worth $28,000 after acquiring an additional 264 shares during the last quarter. Golden State Wealth Management LLC boosted its position in Docusign by 519.4% during the 1st quarter. Golden State Wealth Management LLC now owns 384 shares of the company's stock worth $31,000 after purchasing an additional 322 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Docusign during the first quarter worth about $34,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Docusign by 153.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 453 shares of the company's stock worth $37,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company's stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of research analyst reports. Wedbush lowered their price objective 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. UBS Group set a $95.00 target price on shares of Docusign in a research note on Friday, September 5th. Argus reissued a "hold" rating on shares of Docusign in a report on Monday, September 8th. Robert W. Baird increased their price objective on Docusign from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Docusign from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Friday, September 5th. One investment 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 company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $94.14.

Insider Buying and Selling

In other Docusign news, Director Anna Marrs sold 728 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $80.30, for a total value of $58,458.40. Following the completion of the transaction, the director directly owned 10,799 shares in the company, valued at approximately $867,159.70. The trade was a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Chatwani sold 13,817 shares of the company's 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 $1,148,192.70. Following the completion of the sale, the insider owned 71,162 shares in the company, valued at approximately $5,913,562.20. This represents a 16.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,533 shares of company stock worth $6,598,028 in the last three months. 1.01% of the stock is currently owned by company insiders.

Docusign Trading Up 0.3%

NASDAQ DOCU opened at $81.52 on Friday. The firm has a market capitalization of $16.39 billion, a PE ratio of 61.29, a price-to-earnings-growth ratio of 4.26 and a beta of 1.02. The business's 50-day moving average price is $77.00 and its two-hundred day moving average price is $79.42. Docusign Inc. has a 12 month low of $60.60 and a 12 month high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.08. The business 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%.Docusign's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. Docusign has set its Q3 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, analysts forecast that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

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

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.

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