Thrivent Financial for Lutherans Has $1.68 Million Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Thrivent Financial for Lutherans lessened its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,217 shares of the company’s stock after selling 470 shares during the period. Thrivent Financial for Lutherans owned about 0.05% of DigitalOcean worth $1,677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Harbor Investment Advisory LLC boosted its position in DigitalOcean by 380.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock worth $25,000 after acquiring an additional 570 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of DigitalOcean by 150.4% during the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock worth $39,000 after purchasing an additional 585 shares during the period. BSW Wealth Partners grew its position in DigitalOcean by 4.3% during the fourth quarter. BSW Wealth Partners now owns 14,556 shares of the company’s stock valued at $496,000 after purchasing an additional 600 shares in the last quarter. Stifel Financial Corp increased its stake in DigitalOcean by 3.6% in the 3rd quarter. Stifel Financial Corp now owns 22,218 shares of the company’s stock valued at $897,000 after buying an additional 777 shares during the period. Finally, KBC Group NV lifted its position in DigitalOcean by 37.6% in the 4th quarter. KBC Group NV now owns 2,884 shares of the company’s stock worth $98,000 after buying an additional 788 shares in the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Wall Street Analyst Weigh In

DOCN has been the topic of several research analyst reports. Cantor Fitzgerald boosted their price target on shares of DigitalOcean from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. JMP Securities boosted their target price on DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a research note on Monday, January 27th. Morgan Stanley raised DigitalOcean from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $41.00 in a research note on Thursday, January 16th. Stifel Nicolaus boosted their price target on DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, Bank of America increased their price objective on DigitalOcean from $28.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $43.27.

DigitalOcean Trading Down 3.8 %

NYSE DOCN opened at $34.17 on Friday. The company has a market cap of $3.15 billion, a P/E ratio of 40.20, a P/E/G ratio of 3.12 and a beta of 1.80. DigitalOcean Holdings, Inc. has a 1 year low of $26.63 and a 1 year high of $47.02. The company has a fifty day simple moving average of $40.19 and a 200 day simple moving average of $39.29.

Insider Buying and Selling at DigitalOcean

In related news, insider Bratin Saha sold 3,948 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $36.63, for a total transaction of $144,615.24. Following the completion of the transaction, the insider now directly owns 358,696 shares in the company, valued at $13,139,034.48. This represents a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.74% of the company’s stock.

DigitalOcean 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).