Sumitomo Mitsui Trust Group Inc. Has $30.48 Million Position in Docusign Inc. $DOCU

Key Points

• Sumitomo Mitsui Trust Group reduced its stake in DocuSign by 6.1% to 445,558 shares valued at $30.48 million, while institutional investors own about 77.64% and insiders have sold 64,673 shares in the past 90 days, now owning ~1.01%.
• DocuSign beat quarterly estimates with $1.01 EPS (vs. $0.95) and revenue of $836.9M (up 7.8% y/y), and its board authorized a $2.0 billion share buyback (about 21% of shares).
• Wall Street has trimmed expectations recently, leaving a consensus Hold rating with an average price target of $61.40; DOCU trades near $46 (12‑month range: $40.16–$94.67) with a market cap around $9B.

Sumitomo Mitsui Trust Group Inc. lowered its position in Docusign Inc. (NASDAQ:DOCU - Free Report) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 445,558 shares of the company's stock after selling 28,972 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Docusign worth $30,476,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in Docusign in the fourth quarter worth approximately $25,000. True Wealth Design LLC increased its holdings in Docusign by 105.2% in the fourth quarter. True Wealth Design LLC now owns 433 shares of the company's stock worth $30,000 after buying an additional 222 shares during the last quarter. Aventura Private Wealth LLC acquired a new position in Docusign in the fourth quarter worth approximately $30,000. SJS Investment Consulting Inc. increased its holdings in Docusign by 5,318.2% in the third quarter. SJS Investment Consulting Inc. now owns 596 shares of the company's stock worth $43,000 after buying an additional 585 shares during the last quarter. Finally, CX Institutional increased its holdings in Docusign by 5,860.0% in the third quarter. CX Institutional now owns 596 shares of the company's stock worth $43,000 after buying an additional 586 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Buying and Selling

In other news, CRO Paula Hansen sold 6,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total value of $281,040.00. Following the completion of the sale, the executive directly owned 79,233 shares of the company's stock, valued at approximately $3,711,273.72. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Chatwani sold 16,696 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $48.10, for a total value of $803,077.60. Following the completion of the sale, the insider directly owned 72,458 shares of the company's stock, valued at $3,485,229.80. This represents a 18.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 64,673 shares of company stock valued at $3,077,699 in the last ninety days. Company insiders own 1.01% of the company's stock.

Docusign Stock Down 1.7%

Shares of DOCU stock opened at $46.06 on Friday. Docusign Inc. has a 12 month low of $40.16 and a 12 month high of $94.67. The business's 50 day moving average is $46.34 and its two-hundred day moving average is $59.49. The company has a market cap of $8.96 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Tuesday, March 17th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.06. Docusign had a return on equity of 16.86% and a net margin of 9.60%.The company had revenue of $836.86 million during the quarter, compared to analysts' expectations of $828.23 million. During the same period in the prior year, the business earned $0.86 earnings per share. Docusign's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign announced that its board has authorized a stock repurchase plan on Tuesday, March 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 21% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of research reports. Royal Bank Of Canada dropped their price objective on Docusign from $70.00 to $55.00 and set a "sector perform" rating on the stock in a report on Wednesday, March 18th. Weiss Ratings downgraded Docusign from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday. Citigroup downgraded Docusign from a "buy" rating to a "neutral" rating and lowered their price target for the company from $99.00 to $50.00 in a report on Friday, April 10th. HSBC set a $53.00 price target on Docusign in a report on Friday, February 13th. Finally, Jefferies Financial Group downgraded Docusign from a "buy" rating to a "hold" rating and lowered their price target for the company from $105.00 to $45.00 in a report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $61.40.

Docusign Profile

DocuSign, Inc NASDAQ: DOCU is a leading provider of electronic signature and digital transaction management solutions. The company's flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign's Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign's platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.

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