Docusign Inc. $DOCU Position Trimmed by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Docusign Inc. by 29.3%, selling 8,075 shares and now holding 19,519 shares valued at approximately $1.59 million.
• Insider sales in Docusign included CEO Allan Thygesen, who sold 40,000 shares worth over $3.1 million, marking a 21.74% decrease in his ownership of the stock.
• Despite recent downgrades and adjustments by analysts, Docusign's stock price has slightly increased by 1.5% and currently has an average target price of $89.77 with a consensus rating of "Hold."

Rafferty Asset Management LLC cut its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 29.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,519 shares of the company's stock after selling 8,075 shares during the period. Rafferty Asset Management LLC's holdings in Docusign were worth $1,589,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC boosted its holdings in Docusign by 1.9% in the first quarter. Wealthspire Advisors LLC now owns 6,579 shares of the company's stock valued at $536,000 after purchasing an additional 122 shares during the last quarter. Foundry Partners LLC raised its stake in shares of Docusign by 1.5% in the 1st quarter. Foundry Partners LLC now owns 8,491 shares of the company's stock valued at $691,000 after purchasing an additional 125 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Docusign by 27.5% in the 1st quarter. Bessemer Group Inc. now owns 602 shares of the company's stock valued at $49,000 after purchasing an additional 130 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Docusign by 24.9% in the 1st quarter. Brooklyn Investment Group now owns 702 shares of the company's stock valued at $57,000 after purchasing an additional 140 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of Docusign by 5.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 2,655 shares of the company's stock valued at $216,000 after purchasing an additional 141 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Robert Chatwani sold 22,875 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $74.79, for a total transaction of $1,710,821.25. Following the completion of the transaction, the insider directly owned 72,126 shares in the company, valued at approximately $5,394,303.54. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 15,143 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $74.80, for a total transaction of $1,132,696.40. Following the transaction, the chief financial officer owned 110,723 shares in the company, valued at $8,282,080.40. This represents a 12.03% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,552 shares of company stock valued at $5,983,631. Corporate insiders own 1.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DOCU shares. Evercore ISI upped their target price on shares of Docusign from $90.00 to $92.00 and gave the company an "in-line" rating in a research note on Friday. UBS Group upped their target price on shares of Docusign from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Friday. JMP Securities restated a "market outperform" rating and issued a $124.00 target price on shares of Docusign in a research note on Friday. Robert W. Baird upped their target price on shares of Docusign from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Bank of America upped their target price on shares of Docusign from $85.00 to $102.00 and gave the company a "neutral" rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Docusign presently has an average rating of "Hold" and an average target price of $93.14.

Docusign Price Performance

Shares of NASDAQ DOCU traded up $3.66 during midday trading on Friday, hitting $79.90. 8,703,737 shares of the company's stock were exchanged, compared to its average volume of 2,624,624. The stock's 50 day moving average price is $75.46 and its 200-day moving average price is $79.45. The firm has a market cap of $16.14 billion, a P/E ratio of 15.13, a PEG ratio of 28.33 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 issued its quarterly earnings data on Thursday, September 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. The business had revenue of $800.64 million during the quarter, compared to the consensus estimate of $780.35 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%.The business's revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 earnings per share. Docusign has set its Q3 2026 guidance at EPS. FY 2026 guidance at EPS. On average, analysts expect that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its Board of Directors has initiated a stock repurchase plan on Thursday, June 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.6% of its stock through open market purchases. Stock buyback plans are often an indication 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.