Vontobel Holding Ltd. Takes Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Vontobel Holding Ltd. bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,936 shares of the company’s stock, valued at approximately $765,000.

Several other institutional investors and hedge funds have also made changes to their positions in DOCN. FinTrust Capital Advisors LLC purchased a new stake in DigitalOcean during the 1st quarter valued at approximately $36,000. Covestor Ltd raised its stake in DigitalOcean by 571.4% during the 1st quarter. Covestor Ltd now owns 1,947 shares of the company’s stock valued at $74,000 after acquiring an additional 1,657 shares during the last quarter. Quest Partners LLC raised its stake in DigitalOcean by 11,041.9% during the 2nd quarter. Quest Partners LLC now owns 3,454 shares of the company’s stock valued at $120,000 after acquiring an additional 3,423 shares during the last quarter. Tidal Investments LLC purchased a new stake in DigitalOcean during the 1st quarter valued at approximately $220,000. Finally, 180 Wealth Advisors LLC raised its stake in DigitalOcean by 4.4% during the 2nd quarter. 180 Wealth Advisors LLC now owns 7,120 shares of the company’s stock valued at $237,000 after acquiring an additional 297 shares during the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.

DigitalOcean Stock Down 1.1 %

Shares of DigitalOcean stock opened at $43.32 on Monday. The firm has a market cap of $3.95 billion, a PE ratio of 81.74, a P/E/G ratio of 3.38 and a beta of 1.83. The business’s fifty day moving average is $39.57 and its two-hundred day moving average is $36.26. DigitalOcean Holdings, Inc. has a fifty-two week low of $19.39 and a fifty-two week high of $44.80.

DigitalOcean (NYSE:DOCN) last issued its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.09. The business had revenue of $192.00 million for the quarter, compared to analyst estimates of $188.63 million. DigitalOcean had a negative return on equity of 31.71% and a net margin of 9.30%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the company posted $0.11 EPS. Equities research analysts anticipate that DigitalOcean Holdings, Inc. will post 0.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Canaccord Genuity Group upped their price objective on DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Barclays boosted their target price on DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. UBS Group lowered their price target on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus upped their price target on DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Piper Sandler lowered their target price on DigitalOcean from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, DigitalOcean currently has a consensus rating of “Moderate Buy” and an average target price of $40.63.

About DigitalOcean

DigitalOcean Holdings, Inc, through its subsidiaries, operates a cloud computing platform in North America, Europe, Asia, and internationally. The company’s platform provides on-demand infrastructure and platform tools for developers, start-ups, and small and growing digital businesses. It also offers infrastructure-as-a-service (IaaS) solutions comprising compute and storage services, as well as networking projects, including Cloud Firewalls software, Managed Load Balancers software, and Virtual Private Cloud (VPC).