Panagora Asset Management Inc. Lowers Position in Docusign Inc. $DOCU

Key Points

• Panagora Asset Management Inc. has reduced its stake in Docusign Inc. by 53.5%, now holding 281,527 shares valued at approximately $22.92 million.
• Other institutional investors have notably increased their holdings, with Wellington Management Group increasing their stake by 372.5% to 1,826,949 shares valued at $148.71 million.
• Docusign recently announced a $1 billion stock buyback program, which allows the company to reacquire up to 6.6% of its stock, indicating confidence in its valuation.

Panagora Asset Management Inc. cut its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 53.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 281,527 shares of the company's stock after selling 324,109 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.14% of Docusign worth $22,916,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of Docusign by 222.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 172,753 shares of the company's stock worth $15,537,000 after acquiring an additional 119,245 shares during the last quarter. Comerica Bank increased its stake in shares of Docusign by 193.6% in the fourth quarter. Comerica Bank now owns 93,394 shares of the company's stock worth $8,400,000 after acquiring an additional 61,589 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Docusign by 91.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 46,439 shares of the company's stock worth $4,087,000 after buying an additional 22,158 shares during the last quarter. Wahed Invest LLC acquired a new stake in shares of Docusign in the fourth quarter valued at about $463,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Docusign during the fourth quarter worth about $37,020,000. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Buying and Selling at Docusign

In other news, 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 completion of the sale, the chief executive officer directly owned 143,983 shares of the company's stock, valued at approximately $11,160,122.33. The trade was a 21.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Chatwani sold 22,875 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the sale, the insider directly owned 72,126 shares of the company's stock, valued at $5,394,303.54. This represents a 24.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,552 shares of company stock worth $5,983,631. Company insiders own 1.66% of the company's stock.

Docusign Stock Up 2.5%

Shares of NASDAQ:DOCU traded up $1.83 during midday trading on Wednesday, reaching $75.90. The company's stock had a trading volume of 2,719,720 shares, compared to its average volume of 2,572,413. Docusign Inc. has a 12-month low of $54.31 and a 12-month high of $107.86. The firm has a 50 day moving average of $75.45 and a 200-day moving average of $79.53. The firm has a market capitalization of $15.34 billion, a P/E ratio of 14.35, a PEG ratio of 28.61 and a beta of 1.02.

Docusign (NASDAQ:DOCU - Get Free Report) last announced 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. Docusign had a net margin of 36.50% and a return on equity of 14.27%. The firm had revenue of $763.65 million for the quarter, compared to the consensus estimate of $748.79 million. During the same quarter last year, the firm posted $0.82 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Docusign has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, research analysts predict that Docusign Inc. will post 1.17 EPS for the current year.

Docusign declared that its board has initiated a stock buyback plan on Thursday, June 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

DOCU has been the subject of several research analyst reports. Bank of America dropped their price objective on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Wells Fargo & Company upgraded shares of Docusign from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $67.00 to $80.00 in a research report on Friday, June 13th. Citigroup dropped their price objective on shares of Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, June 9th. UBS Group reduced their price target on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Docusign from $81.00 to $77.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $89.77.

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.