Peter Solvik Sells 15,000 Shares of Docusign (NASDAQ:DOCU) Stock

Key Points

• Peter Solvik, a director at Docusign, sold 15,000 shares for a total of $1,222,200, reducing his ownership by 9.98% to 135,253 shares.
• Docusign reported better-than-expected earnings, with earnings per share of $0.92 and revenue of $800.64 million, surpassing analyst estimates.
• The company's board has approved a stock buyback program involving up to $1.00 billion, indicating the leadership's belief that the stock is undervalued.

Docusign Inc. (NASDAQ:DOCU - Get Free Report) Director Peter Solvik sold 15,000 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $81.48, for a total value of $1,222,200.00. Following the transaction, the director owned 135,253 shares in the company, valued at $11,020,414.44. This trade represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Docusign Stock Down 0.5%

DOCU stock traded down $0.42 during mid-day trading on Friday, reaching $84.59. The company had a trading volume of 4,516,106 shares, compared to its average volume of 3,496,048. The stock has a market capitalization of $17.01 billion, a P/E ratio of 63.60, a P/E/G ratio of 4.43 and a beta of 1.02. Docusign Inc. has a one year low of $57.58 and a one year high of $107.86. The stock's 50-day simple moving average is $76.39 and its two-hundred day simple moving average is $79.28.

Docusign (NASDAQ:DOCU - Get Free Report) last posted its earnings results on Thursday, September 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.08. The company had revenue of $800.64 million for the quarter, compared to analysts' expectations of $780.35 million. Docusign had a return on equity of 14.01% and a net margin of 9.08%.The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $0.97 earnings per share. Docusign has set its Q3 2026 guidance at EPS. FY 2026 guidance at EPS. On average, research analysts forecast that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its Board of Directors has authorized a share buyback program on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

Institutional Trading of Docusign

Several institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Docusign in the second quarter worth $140,987,000. Wellington Management Group LLP lifted its stake in shares of Docusign by 372.5% during the first quarter. Wellington Management Group LLP now owns 1,826,949 shares of the company's stock valued at $148,714,000 after acquiring an additional 1,440,269 shares during the period. Duquesne Family Office LLC acquired a new position in shares of Docusign during the first quarter valued at $87,477,000. Pacer Advisors Inc. lifted its stake in shares of Docusign by 809.6% during the first quarter. Pacer Advisors Inc. now owns 1,167,290 shares of the company's stock valued at $95,017,000 after acquiring an additional 1,038,962 shares during the period. Finally, Third Point LLC bought a new stake in shares of Docusign in the second quarter worth about $48,681,000. Institutional investors and hedge funds own 77.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DOCU. JPMorgan Chase & Co. lifted their price target on Docusign from $77.00 to $80.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. JMP Securities reissued a "market outperform" rating and issued a $124.00 price target on shares of Docusign in a research note on Friday, September 5th. Zacks Research raised Docusign from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 9th. Robert W. Baird lifted their price target on Docusign from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Finally, Wall Street Zen upgraded Docusign from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.