DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Position Trimmed by US Bancorp DE

US Bancorp DE lessened its holdings in shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN) by 67.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,324 shares of the company’s stock after selling 2,710 shares during the quarter. US Bancorp DE’s holdings in DigitalOcean were worth $52,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. grew its stake in DigitalOcean by 6.2% during the 1st quarter. BlackRock Inc. now owns 4,113,371 shares of the company’s stock valued at $237,960,000 after acquiring an additional 241,316 shares in the last quarter. First Trust Advisors LP grew its stake in shares of DigitalOcean by 29.4% in the 1st quarter. First Trust Advisors LP now owns 3,241,162 shares of the company’s stock valued at $187,501,000 after buying an additional 735,924 shares in the last quarter. State Street Corp grew its stake in shares of DigitalOcean by 10.1% in the 3rd quarter. State Street Corp now owns 1,351,461 shares of the company’s stock valued at $48,882,000 after buying an additional 124,240 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in shares of DigitalOcean by 47.9% in the 4th quarter. Van Berkom & Associates Inc. now owns 1,230,998 shares of the company’s stock valued at $31,354,000 after buying an additional 398,812 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of DigitalOcean by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 1,159,273 shares of the company’s stock valued at $29,526,000 after buying an additional 69,932 shares in the last quarter. Hedge funds and other institutional investors own 56.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DOCN shares. Bank of America boosted their price target on DigitalOcean from $40.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. JMP Securities lowered their price target on DigitalOcean from $59.00 to $47.00 and set a “market outperform” rating for the company in a research note on Friday. Credit Suisse Group restated a “neutral” rating and issued a $36.00 target price on shares of DigitalOcean in a report on Friday, August 4th. Barclays reduced their target price on DigitalOcean from $58.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Finally, William Blair restated an “outperform” rating on shares of DigitalOcean in a report 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 data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.58.

DigitalOcean Stock Down 1.1 %

Shares of DOCN stock opened at $26.76 on Friday. DigitalOcean Holdings, Inc. has a 12 month low of $23.38 and a 12 month high of $51.69. The firm has a market cap of $2.38 billion, a PE ratio of -74.33, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. The stock has a 50 day moving average of $39.93 and a 200-day moving average of $37.30. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 30.91.

Insider Transactions at DigitalOcean

In other news, COO Jeffrey Scott Guy sold 5,986 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $44.30, for a total transaction of $265,179.80. Following the sale, the chief operating officer now directly owns 144,262 shares in the company, valued at $6,390,806.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 27,986 shares of company stock worth $1,078,880 over the last three months. 4.48% of the stock is currently owned by insiders.

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.