Stifel Financial Corp Purchases 777 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Stifel Financial Corp grew its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,218 shares of the company’s stock after acquiring an additional 777 shares during the quarter. Stifel Financial Corp’s holdings in DigitalOcean were worth $897,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Sei Investments Co. lifted its position in shares of DigitalOcean by 1.5% during the second quarter. Sei Investments Co. now owns 30,834 shares of the company’s stock worth $1,071,000 after purchasing an additional 468 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in DigitalOcean by 56.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock worth $54,000 after buying an additional 483 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in DigitalOcean by 17.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,744 shares of the company’s stock valued at $151,000 after buying an additional 566 shares in the last quarter. Advisors Asset Management Inc. boosted its position in DigitalOcean by 150.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock valued at $39,000 after buying an additional 585 shares during the period. Finally, KBC Group NV grew its stake in DigitalOcean by 47.6% in the 3rd quarter. KBC Group NV now owns 2,096 shares of the company’s stock worth $85,000 after acquiring an additional 676 shares in the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.

DigitalOcean Trading Down 0.3 %

NYSE:DOCN opened at $35.58 on Wednesday. The firm has a fifty day simple moving average of $39.11 and a 200-day simple moving average of $37.25. DigitalOcean Holdings, Inc. has a 12 month low of $26.63 and a 12 month high of $44.80. The company has a market capitalization of $3.28 billion, a P/E ratio of 41.86, a PEG ratio of 2.47 and a beta of 1.76.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.52 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $196.64 million. During the same quarter in the previous year, the business earned $0.17 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Insider Buying and Selling

In other news, CFO Matt Steinfort sold 12,498 shares of DigitalOcean stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total transaction of $499,920.00. Following the completion of the transaction, the chief financial officer now directly owns 517,498 shares of the company’s stock, valued at $20,699,920. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bratin Saha sold 16,989 shares of the 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 sale, the insider now directly owns 390,296 shares in the company, valued at $14,382,407.60. This trade represents a 4.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,955 shares of company stock worth $1,258,373. 0.74% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays lifted their price target 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. Stifel Nicolaus upped their target price on DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Canaccord Genuity Group raised their price target on DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, DigitalOcean presently has an average rating of “Hold” and an average target price of $42.13.

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).