Franklin Resources Inc. Purchases 56,221 Shares of DocuSign, Inc. (NASDAQ:DOCU)

Franklin Resources Inc. lifted its position in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 520,925 shares of the company's stock after acquiring an additional 56,221 shares during the period. Franklin Resources Inc. owned about 0.26% of DocuSign worth $35,870,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. State Street Corp grew its position in DocuSign by 2.3% during the 3rd quarter. State Street Corp now owns 5,372,939 shares of the company's stock worth $333,604,000 after purchasing an additional 120,743 shares in the last quarter. American Century Companies Inc. boosted its position in shares of DocuSign by 1.9% in the second quarter. American Century Companies Inc. now owns 4,099,400 shares of the company's stock worth $219,318,000 after buying an additional 75,026 shares during the period. Renaissance Technologies LLC boosted its position in shares of DocuSign by 18.3% in the second quarter. Renaissance Technologies LLC now owns 3,729,314 shares of the company's stock worth $199,518,000 after buying an additional 576,414 shares during the period. Pacer Advisors Inc. grew its holdings in shares of DocuSign by 77.9% during the second quarter. Pacer Advisors Inc. now owns 3,519,969 shares of the company's stock valued at $188,318,000 after buying an additional 1,541,816 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in DocuSign by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,483,184 shares of the company's stock valued at $215,789,000 after buying an additional 53,554 shares during the period. Institutional investors and hedge funds own 77.64% of the company's stock.

Insider Activity

In other news, CFO Blake Jeffrey Grayson sold 15,588 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $97.78, for a total value of $1,524,194.64. Following the completion of the sale, the chief financial officer now directly owns 85,851 shares of the company's stock, valued at approximately $8,394,510.78. This represents a 15.37 % 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. Also, insider Robert Chatwani sold 14,800 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $97.76, for a total transaction of $1,446,848.00. Following the transaction, the insider now directly owns 73,414 shares in the company, valued at $7,176,952.64. This trade represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 660,737 shares of company stock valued at $63,029,016 over the last 90 days. 1.66% of the stock is currently owned by company insiders.

DocuSign Stock Performance

Shares of NASDAQ DOCU traded up $1.44 during mid-day trading on Thursday, reaching $94.15. 3,279,552 shares of the company traded hands, compared to its average volume of 3,009,606. The company's fifty day moving average is $79.83 and its two-hundred day moving average is $64.22. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market cap of $19.02 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 8.72 and a beta of 0.92.

Analysts Set New Price Targets

A number of equities research analysts have commented on DOCU shares. UBS Group raised their price objective on DocuSign from $60.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Morgan Stanley increased their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price objective (up from $57.00) on shares of DocuSign in a research report on Friday, December 6th. Citigroup increased their target price on shares of DocuSign from $87.00 to $113.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Finally, Piper Sandler lifted their target price on shares of DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, DocuSign currently has a consensus rating of "Hold" and a consensus price target of $92.45.

DocuSign Company 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.