Nuveen Asset Management LLC Has $8.93 Million Holdings in DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Nuveen Asset Management LLC cut its stake in DigitalOcean Holdings, Inc. (NASDAQ:DOCN – Get Rating) by 39.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 246,943 shares of the company’s stock after selling 158,805 shares during the period. Nuveen Asset Management LLC owned about 0.26% of DigitalOcean worth $8,932,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Prospera Financial Services Inc raised its holdings in shares of DigitalOcean by 136.6% in the 2nd quarter. Prospera Financial Services Inc now owns 620 shares of the company’s stock worth $26,000 after buying an additional 358 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in shares of DigitalOcean in the 1st quarter worth approximately $42,000. Truvestments Capital LLC acquired a new position in shares of DigitalOcean in the 2nd quarter worth approximately $36,000. Geneos Wealth Management Inc. raised its holdings in shares of DigitalOcean by 253.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,258 shares of the company’s stock worth $72,000 after buying an additional 902 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of DigitalOcean by 64.3% in the 3rd quarter. Signaturefd LLC now owns 1,290 shares of the company’s stock worth $47,000 after buying an additional 505 shares in the last quarter. 52.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DigitalOcean news, Director Amy Butte sold 5,000 shares of DigitalOcean stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the sale, the director now owns 34,760 shares of the company’s stock, valued at approximately $1,216,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other DigitalOcean news, Director Amy Butte sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the transaction, the director now owns 34,760 shares of the company’s stock, valued at approximately $1,216,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Carly D. Brantz sold 106,419 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $34.42, for a total value of $3,662,941.98. Following the sale, the chief marketing officer now owns 76,358 shares in the company, valued at approximately $2,628,242.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,657 shares of company stock valued at $5,721,028. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on DOCN. Morgan Stanley increased their price target on DigitalOcean from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Friday, February 17th. Credit Suisse Group increased their price target on DigitalOcean from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. Needham & Company LLC increased their price target on DigitalOcean from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. William Blair restated an “outperform” rating on shares of DigitalOcean in a research report on Monday, December 19th. Finally, Canaccord Genuity Group increased their price target on DigitalOcean from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.54.

DigitalOcean Stock Down 4.5 %

Shares of DOCN opened at $33.00 on Friday. DigitalOcean Holdings, Inc. has a 52 week low of $23.38 and a 52 week high of $63.17. The company has a debt-to-equity ratio of 28.78, a quick ratio of 5.76 and a current ratio of 5.76. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -143.47, a PEG ratio of 1.76 and a beta of 1.16. The business’s fifty day moving average price is $30.22 and its two-hundred day moving average price is $32.82.

DigitalOcean (NASDAQ:DOCN – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.09. DigitalOcean had a negative return on equity of 2.36% and a negative net margin of 4.21%. The business had revenue of $163.00 million for the quarter, compared to analyst estimates of $161.10 million. During the same period last year, the company earned ($0.11) EPS. The firm’s revenue was up 36.2% on a year-over-year basis. On average, analysts predict that DigitalOcean Holdings, Inc. will post 0.5 earnings per share for the current year.

DigitalOcean Profile

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DigitalOcean Holdings, Inc, through its subsidiaries, operates a cloud computing platform in North America, Europe, Asia, and internationally. Its platform provides on-demand infrastructure and platform tools for developers, start-ups, and small and medium size businesses. The company offers infrastructure solutions across compute, storage, and networking, as well as enables developers to extend the native capabilities of its cloud with fully managed application, container, and database offerings.