Victory Capital Management Inc. Has $1.26 Million Stock Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Victory Capital Management Inc. boosted its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 79.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,169 shares of the company’s stock after purchasing an additional 13,837 shares during the period. Victory Capital Management Inc.’s holdings in DigitalOcean were worth $1,259,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DOCN. 180 Wealth Advisors LLC boosted its holdings in DigitalOcean by 4.4% in the second quarter. 180 Wealth Advisors LLC now owns 7,120 shares of the company’s stock worth $237,000 after purchasing an additional 297 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of DigitalOcean by 4.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 8,426 shares of the company’s stock worth $293,000 after acquiring an additional 359 shares in the last quarter. Sei Investments Co. increased its holdings in shares of DigitalOcean by 1.5% during the 2nd quarter. Sei Investments Co. now owns 30,834 shares of the company’s stock valued at $1,071,000 after acquiring an additional 468 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of DigitalOcean by 56.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock valued at $54,000 after acquiring an additional 483 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of DigitalOcean by 17.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 3,744 shares of the company’s stock worth $151,000 after buying an additional 566 shares during the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on DOCN shares. JPMorgan Chase & Co. lifted their price target on DigitalOcean from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Stifel Nicolaus lifted their price objective on DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a report on Friday, August 9th. Barclays boosted their target price on shares of DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Canaccord Genuity Group raised their price objective on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, UBS Group cut their target price on shares of DigitalOcean from $40.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.50.

Insider Buying and Selling at DigitalOcean

In other news, insider Bratin Saha sold 16,989 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $626,044.65. Following the transaction, the insider now owns 390,296 shares of the company’s stock, valued at $14,382,407.60. This represents a 4.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.74% of the company’s stock.

DigitalOcean Price Performance

Shares of DigitalOcean stock opened at $38.69 on Wednesday. The firm has a market capitalization of $3.57 billion, a P/E ratio of 45.54, a P/E/G ratio of 2.54 and a beta of 1.83. DigitalOcean Holdings, Inc. has a fifty-two week low of $26.63 and a fifty-two week high of $44.80. The company’s 50 day moving average price is $40.53 and its two-hundred day moving average price is $37.14.

DigitalOcean (NYSE:DOCN) last announced its earnings results on Monday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.12. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The business had revenue of $198.50 million during the quarter, compared to analyst estimates of $196.64 million. During the same period last year, the company earned $0.17 EPS. DigitalOcean’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts expect that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

DigitalOcean Company Profile

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).