Franklin Resources Inc. Grows Stock Holdings in DocuSign, Inc. (NASDAQ:DOCU)

Franklin Resources Inc. increased its position in shares of DocuSign, Inc. (NASDAQ:DOCU) by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 520,925 shares of the company’s stock after acquiring an additional 56,221 shares during the quarter. Franklin Resources Inc. owned about 0.26% of DocuSign worth $35,870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in DocuSign by 55.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,213 shares of the company’s stock worth $439,000 after acquiring an additional 2,925 shares during the period. Atria Wealth Solutions Inc. boosted its position in DocuSign by 20.7% in the second quarter. Atria Wealth Solutions Inc. now owns 14,603 shares of the company’s stock valued at $781,000 after buying an additional 2,507 shares during the last quarter. &PARTNERS acquired a new position in DocuSign in the 2nd quarter worth approximately $403,000. AMG National Trust Bank purchased a new position in DocuSign during the 2nd quarter worth approximately $1,247,000. Finally, IMA Advisory Services Inc. acquired a new stake in DocuSign during the 2nd quarter valued at approximately $772,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Insiders Place Their Bets

In other DocuSign news, insider James P. Shaughnessy sold 7,500 shares of DocuSign stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $67.83, for a total value of $508,725.00. Following the sale, the insider now owns 43,301 shares in the company, valued at $2,937,106.83. The trade was a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Allan C. Thygesen sold 7,648 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $62.47, for a total transaction of $477,770.56. Following the completion of the transaction, the chief executive officer now directly owns 115,589 shares in the company, valued at $7,220,844.83. The trade was a 6.21 % 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 in the last 90 days. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on DOCU. Morgan Stanley raised their target price on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. HSBC reissued a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Jefferies Financial Group raised their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. JMP Securities boosted their price target on DocuSign from $108.00 to $124.00 and gave the company a “market outperform” rating in a report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, DocuSign has a consensus rating of “Hold” and an average target price of $92.45.

DocuSign Price Performance

Shares of NASDAQ:DOCU opened at $92.71 on Thursday. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86. The firm has a market capitalization of $18.73 billion, a PE ratio of 19.12, a P/E/G ratio of 8.72 and a beta of 0.92. The business’s 50 day moving average price is $79.83 and its 200-day moving average price is $64.22.

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.