Vontobel Holding Ltd. Takes Position in DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Vontobel Holding Ltd. purchased a new stake in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,792 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors also recently modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of DigitalOcean by 41.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,399 shares of the company’s stock valued at $88,000 after purchasing an additional 698 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of DigitalOcean in the fourth quarter valued at about $35,000. Arizona State Retirement System lifted its holdings in shares of DigitalOcean by 6.4% in the fourth quarter. Arizona State Retirement System now owns 16,144 shares of the company’s stock valued at $592,000 after purchasing an additional 971 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of DigitalOcean by 8.2% in the third quarter. Harbor Capital Advisors Inc. now owns 13,174 shares of the company’s stock valued at $317,000 after purchasing an additional 998 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of DigitalOcean by 1.1% in the third quarter. Rhumbline Advisers now owns 89,640 shares of the company’s stock valued at $2,154,000 after purchasing an additional 1,017 shares in the last quarter. 49.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $47.00 target price on shares of DigitalOcean in a report on Thursday, March 21st. Barclays upped their target price on DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. Oppenheimer upped their target price on DigitalOcean from $37.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, Piper Sandler upped their target price on DigitalOcean from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DigitalOcean currently has a consensus rating of “Hold” and a consensus price target of $36.78.

DigitalOcean Stock Up 0.8 %

Shares of NASDAQ DOCN opened at $32.71 on Wednesday. The business’s 50 day moving average price is $37.62 and its two-hundred day moving average price is $33.16. The company has a market cap of $2.97 billion, a PE ratio of 3,274.27, a price-to-earnings-growth ratio of 2.78 and a beta of 1.80. DigitalOcean Holdings, Inc. has a twelve month low of $19.39 and a twelve month high of $51.69.

DigitalOcean (NASDAQ:DOCN) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.23. The firm had revenue of $180.87 million for the quarter, compared to the consensus estimate of $178.26 million. DigitalOcean had a negative return on equity of 19.85% and a net margin of 0.12%. As a group, research analysts anticipate that DigitalOcean Holdings, Inc. will post 0.77 EPS for the current fiscal year.

DigitalOcean 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).