Martingale Asset Management L P Cuts Stake in Docusign Inc. $DOCU

Key Points

• Martingale Asset Management L P reduced its holdings in Docusign Inc. by 28.2%, selling 13,725 shares during the first quarter, leaving them with 34,990 shares valued at approximately $2.85 million.
• Several institutional investors have significantly increased their stakes in Docusign, with Wellington Management Group raising its stake by 372.5% and Pacer Advisors boosting theirs by 809.6% during the same period.
• Docusign's Board of Directors has authorized a stock repurchase plan of $1 billion, indicating confidence in the company's valuation and allowing for the repurchase of up to 6.6% of its outstanding shares.

Martingale Asset Management L P lessened its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 28.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,990 shares of the company's stock after selling 13,725 shares during the period. Martingale Asset Management L P's holdings in Docusign were worth $2,848,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of Docusign by 7.5% during the 4th quarter. NewEdge Advisors LLC now owns 6,745 shares of the company's stock valued at $607,000 after acquiring an additional 469 shares during the period. Dimensional Fund Advisors LP grew its holdings in Docusign by 23.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 822,314 shares of the company's stock valued at $73,975,000 after purchasing an additional 156,841 shares during the period. MML Investors Services LLC increased its position in Docusign by 38.9% in the fourth quarter. MML Investors Services LLC now owns 16,711 shares of the company's stock worth $1,503,000 after buying an additional 4,677 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Docusign by 3,841.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,234 shares of the company's stock valued at $1,010,000 after purchasing an additional 10,949 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in Docusign by 34.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock worth $50,000 after purchasing an additional 143 shares in the last quarter. 77.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Blake Jeffrey Grayson sold 15,143 shares of Docusign stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the completion of the sale, the chief financial officer directly owned 110,723 shares in the company, valued at approximately $8,282,080.40. This trade represents a 12.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Allan C. Thygesen sold 40,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $77.51, for a total transaction of $3,100,400.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,552 shares of company stock worth $5,983,631 in the last 90 days. 1.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DOCU. Citigroup reduced their price objective on shares of Docusign from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, June 9th. UBS Group cut their target price on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. JPMorgan Chase & Co. decreased their price target on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Wells Fargo & Company raised shares of Docusign from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $67.00 to $80.00 in a report on Friday, June 13th. Finally, Wall Street Zen lowered Docusign from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Docusign has a consensus rating of "Hold" and a consensus price target of $89.77.

Docusign Stock Up 0.9%

NASDAQ DOCU traded up $0.66 during trading hours on Thursday, hitting $75.34. 373,893 shares of the company were exchanged, compared to its average volume of 2,564,539. Docusign Inc. has a 52 week low of $54.31 and a 52 week high of $107.86. The stock has a 50-day moving average price of $75.37 and a 200 day moving average price of $79.97. The stock has a market cap of $15.22 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 27.06 and a beta of 1.01.

Docusign (NASDAQ:DOCU - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $763.65 million for 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%.Docusign's quarterly revenue 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. As a group, sell-side analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current year.

Docusign announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Docusign 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.