State of New Jersey Common Pension Fund D Sells 5,372 Shares of Docusign Inc. $DOCU

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Docusign Inc. by 7.2%, owning 69,662 shares worth approximately $5.67 million at the end of the first quarter.
• Docusign's recent quarterly earnings exceeded forecasts, with an EPS of $0.90, beating the expected $0.81 and reflecting a 7.6% revenue increase year-over-year.
• The company has initiated a $1 billion share buyback program, allowing it to repurchase up to 6.6% of its outstanding shares, demonstrating confidence in its valuation.

State of New Jersey Common Pension Fund D reduced its stake in Docusign Inc. (NASDAQ:DOCU - Free Report) by 7.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,662 shares of the company's stock after selling 5,372 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Docusign were worth $5,670,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC lifted its position in Docusign by 738.2% in the 1st quarter. New Age Alpha Advisors LLC now owns 41,187 shares of the company's stock valued at $3,353,000 after acquiring an additional 36,273 shares in the last quarter. Pinpoint Asset Management Ltd lifted its position in Docusign by 54.3% during the 1st quarter. Pinpoint Asset Management Ltd now owns 56,985 shares of the company's stock worth $4,639,000 after buying an additional 20,043 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in Docusign during the 1st quarter worth about $618,000. Gilman Hill Asset Management LLC lifted its position in 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 buying an additional 3,904 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in Docusign by 1.7% during the 1st quarter. Blair William & Co. IL now owns 387,542 shares of the company's stock worth $31,546,000 after buying an additional 6,460 shares in the last quarter. 77.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on DOCU. Needham & Company LLC reissued a "hold" rating on shares of Docusign in a research report on Friday, June 6th. Citigroup cut their price target 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 price target on shares of Docusign from $85.00 to $80.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Bank of America cut their price target on shares of Docusign from $88.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. Finally, Wall Street Zen lowered shares of Docusign from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $89.77.

Docusign Price Performance

NASDAQ:DOCU traded up $4.07 during trading hours on Friday, reaching $74.81. 2,692,758 shares of the company were exchanged, compared to its average volume of 2,172,880. The company has a market capitalization of $15.12 billion, a P/E ratio of 14.14, a P/E/G ratio of 26.40 and a beta of 1.01. Docusign Inc. has a 1-year low of $54.31 and a 1-year high of $107.86. The business has a 50 day moving average of $75.47 and a 200 day moving average of $80.39.

Docusign (NASDAQ:DOCU - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share for the quarter, topping 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 company had revenue of $763.65 million during the quarter, compared to the consensus estimate of $748.79 million. During the same quarter in the prior year, the firm posted $0.82 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. Docusign has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, equities research analysts anticipate that Docusign Inc. will post 1.17 earnings per share for the current fiscal year.

Docusign declared that its Board of Directors has approved a stock buyback plan on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Robert Chatwani sold 22,875 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider owned 72,126 shares of the company's stock, valued at approximately $5,394,303.54. This represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Allan C. Thygesen sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 approximately $11,160,122.33. This trade represents a 21.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,552 shares of company stock worth $5,983,631. Insiders own 1.01% of the company's stock.

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.