Parallax Volatility Advisers L.P. Sells 150,897 Shares of Docusign Inc. $DOCU

Key Points

• Parallax Volatility Advisers L.P. reduced its shareholding in Docusign by 55.1%, selling 150,897 shares and now holds approximately 123,030 shares worth about $10 million.
• Docusign's stock increased by 4.7%, with a current market cap of $16.14 billion and a twelve-month trading range between $54.31 and $107.86.
• The company announced a $1 billion share buyback plan to repurchase up to 6.6% of its stock, signaling confidence in its valuation from the leadership.

Parallax Volatility Advisers L.P. lowered its holdings in Docusign Inc. (NASDAQ:DOCU - Free Report) by 55.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,030 shares of the company's stock after selling 150,897 shares during the period. Parallax Volatility Advisers L.P. owned approximately 0.06% of Docusign worth $10,015,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. New Age Alpha Advisors LLC boosted its stake in shares of Docusign by 738.2% in the first quarter. New Age Alpha Advisors LLC now owns 41,187 shares of the company's stock valued at $3,353,000 after buying an additional 36,273 shares during the period. Pinpoint Asset Management Ltd lifted its position in shares of Docusign by 54.3% during the 1st quarter. Pinpoint Asset Management Ltd now owns 56,985 shares of the company's stock valued at $4,639,000 after acquiring an additional 20,043 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Docusign during the 1st quarter worth $618,000. Gilman Hill Asset Management LLC grew its holdings in shares of Docusign by 4.9% during the 1st quarter. Gilman Hill Asset Management LLC now owns 84,326 shares of the company's stock worth $6,864,000 after purchasing an additional 3,904 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of Docusign by 1.7% in the first quarter. Blair William & Co. IL now owns 387,542 shares of the company's stock worth $31,546,000 after purchasing an additional 6,460 shares during the period. 77.64% of the stock is owned by institutional investors.

Docusign Stock Performance

Shares of Docusign stock traded down $0.98 on Wednesday, hitting $78.82. The stock had a trading volume of 4,434,972 shares, compared to its average volume of 2,985,693. The stock has a 50 day moving average of $75.69 and a 200 day moving average of $79.29. The firm has a market capitalization of $15.85 billion, a P/E ratio of 60.46, a PEG ratio of 4.18 and a beta of 1.02. Docusign Inc. has a twelve month low of $54.31 and a twelve month high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, September 4th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.08. The firm had revenue of $800.64 million for the quarter, compared to analyst estimates of $780.35 million. Docusign had a net margin of 9.08% and a return on equity of 14.01%. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. Docusign has set its Q3 2026 guidance at EPS. FY 2026 guidance at EPS. Equities analysts expect 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 permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Teresa Briggs sold 534 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $74.37, for a total transaction 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. This trade represents a 5.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $77.51, for a total value of $3,100,400.00. Following the completion of the sale, the chief executive officer owned 143,983 shares in the company, valued at $11,160,122.33. This trade represents a 21.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,552 shares of company stock valued at $5,983,631. Company insiders own 1.01% of the company's stock.

Analysts Set New Price Targets

DOCU has been the topic of a number of analyst reports. Piper Sandler increased their price objective on shares of Docusign from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. JMP Securities reaffirmed a "market outperform" rating and set a $124.00 price target on shares of Docusign in a report on Friday, September 5th. Wedbush reduced their price target on shares of Docusign from $100.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, June 12th. Royal Bank Of Canada boosted their price objective on shares of Docusign from $90.00 to $95.00 and gave the company a "sector perform" rating in a research report on Friday, September 5th. Finally, Needham & Company LLC restated a "hold" rating on shares of Docusign in a research note on Friday, September 5th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, Docusign presently has an average rating of "Hold" and a consensus price target of $94.14.

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.