Allspring Global Cuts Docusign Stake by 54%, Sells 41,270 Shares
Allspring Global cut its Docusign stake by 54% in Q3, selling 41,270 shares to hold 35,112 shares valued at $2.42 million at quarter-end. Insiders divested 6,450 shares last quarter, reducing individual holdings by 3.01% (Beer) and 8.00% (Hansen), representing 1.01% of outstanding shares.
1. Allspring Global Reduces Stake by Over Half
In the third quarter, Allspring Global Investments Holdings LLC cut its position in DocuSign Inc. by 54.0%, disposing of 41,270 shares and ending the period with 35,112 shares. The remaining stake was valued at approximately $2.42 million, according to the firm’s latest Form 13F filing with the SEC. This substantial divestment underscores a strategic shift at Allspring and marks one of the largest single-quarter reductions among institutional holders this year.
2. Other Institutions Adjust Positions
Several additional hedge funds and wealth managers also modified their DocuSign holdings in recent quarters. Twin Peaks Wealth Advisors initiated a position valued at about $43,000, while MassMutual Private Wealth & Trust FSB increased its stake by 31.3%, adding 142 shares. First Horizon Advisors boosted its shares by 48.6%, and Hantz Financial Services more than doubled its stake with a 106.3% increase, representing fresh capital commitments ranging from $46,000 to $66,000. Sumitomo Mitsui Financial Group entered the stock with a new $70,000 allocation. Overall, institutional ownership accounts for roughly 77.6% of the float.
3. Insider Sales Signal Caution
Company insiders have been net sellers over the past quarter, disposing of 45,542 shares valued at about $3.09 million. Notably, Director James A. Beer sold 450 shares, trimming his holdings by 3.0%, and CRO Paula Hansen sold 6,000 shares, an 8.0% reduction. Insider ownership now stands at approximately 1.01% of outstanding shares. These transactions, disclosed via SEC filings, may reflect executives’ views on valuation or near-term headwinds for the Agreement Cloud platform.
4. Analyst Ratings Remain Mixed
Among research firms covering DocuSign, six maintain Buy recommendations while sixteen rate the stock as Hold, resulting in an average consensus of Hold. Several major brokerages, including Wells Fargo, Piper Sandler and UBS Group, have recently lowered their price targets, citing moderation in new customer trends and rising competition in digital transaction management. Weiss Ratings continues to advise a hold stance, reflecting concerns over valuation relative to mid-cycle growth expectations.