Vanguard Group Inc. Has $287.37 Million Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Vanguard Group Inc. increased its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,434,555 shares of the company’s stock after buying an additional 117,133 shares during the period. Vanguard Group Inc. owned about 9.14% of DigitalOcean worth $287,365,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of DigitalOcean by 14.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 565,763 shares of the company’s stock worth $22,851,000 after purchasing an additional 70,700 shares during the period. Verition Fund Management LLC lifted its holdings in DigitalOcean by 120.1% during the 3rd quarter. Verition Fund Management LLC now owns 19,911 shares of the company’s stock worth $804,000 after buying an additional 10,865 shares during the period. Janus Henderson Group PLC grew its position in shares of DigitalOcean by 2.1% in the 3rd quarter. Janus Henderson Group PLC now owns 185,823 shares of the company’s stock valued at $7,505,000 after buying an additional 3,801 shares during the last quarter. Stifel Financial Corp increased its stake in shares of DigitalOcean by 3.6% in the third 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, Geode Capital Management LLC raised its position in shares of DigitalOcean by 7.9% during the third quarter. Geode Capital Management LLC now owns 1,464,333 shares of the company’s stock worth $59,156,000 after acquiring an additional 106,636 shares during the last quarter. 49.77% of the stock is owned by institutional investors.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,948 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $36.63, for a total transaction of $144,615.24. Following the completion of the sale, the insider now directly owns 358,696 shares of the company’s stock, valued at approximately $13,139,034.48. The trade was a 1.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on shares of DigitalOcean from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. JMP Securities boosted their target price on shares of DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a report on Monday, January 27th. UBS Group increased their price target on DigitalOcean from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, Bank of America boosted their price objective on DigitalOcean from $28.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $43.27.

DigitalOcean Stock Down 8.3 %

Shares of DOCN opened at $28.64 on Friday. The business’s fifty day moving average is $39.63 and its 200 day moving average is $39.03. DigitalOcean Holdings, Inc. has a 12-month low of $26.63 and a 12-month high of $47.02. The stock has a market cap of $2.64 billion, a P/E ratio of 33.69, a P/E/G ratio of 3.12 and a beta of 1.80.

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).