Vanguard Personalized Indexing Management LLC Invests $263,000 in DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Vanguard Personalized Indexing Management LLC acquired a new position in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,710 shares of the company’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Great Lakes Advisors LLC bought a new position in DigitalOcean during the first quarter valued at about $2,368,000. Y Intercept Hong Kong Ltd bought a new position in DigitalOcean during the first quarter valued at about $388,000. Sigma Planning Corp increased its stake in DigitalOcean by 3.3% during the first quarter. Sigma Planning Corp now owns 18,698 shares of the company’s stock valued at $732,000 after acquiring an additional 593 shares during the period. Lisanti Capital Growth LLC bought a new position in DigitalOcean during the first quarter valued at about $6,151,000. Finally, Assetmark Inc. increased its stake in DigitalOcean by 28.9% during the first quarter. Assetmark Inc. now owns 1,518 shares of the company’s stock valued at $59,000 after acquiring an additional 340 shares during the period. 56.53% of the stock is currently owned by institutional investors.

Insider Transactions at DigitalOcean

In other DigitalOcean news, COO Jeffrey Scott Guy sold 10,000 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $32.41, for a total transaction of $324,100.00. Following the transaction, the chief operating officer now owns 134,262 shares of the company’s stock, valued at approximately $4,351,431.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 27,986 shares of company stock valued at $1,078,880 in the last three months. 4.48% of the stock is owned by corporate insiders.

DigitalOcean Stock Down 3.3 %

Shares of DOCN opened at $27.06 on Friday. The company has a market capitalization of $2.40 billion, a P/E ratio of -75.17, a PEG ratio of 1.48 and a beta of 1.22. The company has a debt-to-equity ratio of 30.91, a current ratio of 3.84 and a quick ratio of 3.84. DigitalOcean Holdings, Inc. has a one year low of $23.38 and a one year high of $51.69. The business’s 50 day simple moving average is $40.17 and its 200-day simple moving average is $37.32.

Wall Street Analysts Forecast Growth

DOCN has been the topic of several research reports. Morgan Stanley upgraded DigitalOcean from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $127.00 to $103.00 in a research note on Friday, August 11th. Bank of America upped their price objective on DigitalOcean from $40.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Piper Sandler lowered DigitalOcean from a “neutral” rating to an “underweight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, June 21st. Credit Suisse Group reiterated a “neutral” rating and issued a $36.00 price objective on shares of DigitalOcean in a research note on Friday, August 4th. Finally, William Blair reiterated an “outperform” rating on shares of DigitalOcean in a research note on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.58.

DigitalOcean Profile

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.