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

Franklin Resources Inc. increased its position in DocuSign, Inc. (NASDAQ:DOCU) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 521,314 shares of the company’s stock after acquiring an additional 389 shares during the quarter. Franklin Resources Inc.’s holdings in DocuSign were worth $46,887,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of DocuSign by 2.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 53,508 shares of the company’s stock valued at $3,322,000 after purchasing an additional 1,248 shares in the last quarter. Townsquare Capital LLC boosted its stake in DocuSign by 3.7% during the third quarter. Townsquare Capital LLC now owns 5,103 shares of the company’s stock valued at $317,000 after buying an additional 183 shares during the period. Captrust Financial Advisors grew its position in DocuSign by 92.3% during the third quarter. Captrust Financial Advisors now owns 38,587 shares of the company’s stock worth $2,396,000 after buying an additional 18,518 shares in the last quarter. Janus Henderson Group PLC increased its stake in DocuSign by 13.1% in the 3rd quarter. Janus Henderson Group PLC now owns 12,110 shares of the company’s stock worth $752,000 after acquiring an additional 1,398 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of DocuSign by 8.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 257,385 shares of the company’s stock valued at $15,981,000 after acquiring an additional 21,028 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Price Performance

DOCU opened at $72.21 on Friday. The stock’s 50 day simple moving average is $86.02 and its 200 day simple moving average is $81.98. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 6.94 and a beta of 1.20. DocuSign, Inc. has a 1 year low of $48.70 and a 1 year high of $107.86.

DocuSign (NASDAQ:DOCU) last issued its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The firm had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same quarter last year, the business earned $0.76 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Insider Activity

In other DocuSign news, Director Peter Solvik sold 10,000 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $91.26, for a total value of $912,600.00. Following the completion of the transaction, the director now directly owns 150,253 shares in the company, valued at approximately $13,712,088.78. This represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of DocuSign stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the sale, the chief financial officer now directly owns 77,851 shares in the company, valued at $6,765,251.90. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,851 shares of company stock valued at $4,911,319. Insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

DOCU has been the subject of several recent analyst reports. William Blair raised DocuSign from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target on shares of DocuSign in a report on Friday, March 14th. Piper Sandler lifted their price objective on shares of DocuSign from $60.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Robert W. Baird set a $93.00 target price on DocuSign in a research note on Friday, March 14th. Finally, UBS Group dropped their price target on DocuSign from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, DocuSign currently has an average rating of “Hold” and a consensus target price of $95.83.

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.