Dimensional Fund Advisors LP Raises Position in DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Dimensional Fund Advisors LP increased its holdings in DigitalOcean Holdings, Inc. (NASDAQ:DOCNFree Report) by 30.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 774,427 shares of the company’s stock after buying an additional 180,421 shares during the period. Dimensional Fund Advisors LP owned 0.90% of DigitalOcean worth $28,417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of DigitalOcean by 3.3% in the third quarter. Vanguard Group Inc. now owns 6,391,293 shares of the company’s stock worth $153,583,000 after buying an additional 202,179 shares in the last quarter. K.J. Harrison & Partners Inc bought a new position in DigitalOcean in the fourth quarter valued at $2,091,000. Mirae Asset Global Investments Co. Ltd. increased its stake in DigitalOcean by 36.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 901,325 shares of the company’s stock valued at $33,070,000 after acquiring an additional 241,706 shares during the last quarter. Schroder Investment Management Group bought a new position in DigitalOcean in the third quarter valued at $7,029,000. Finally, Seven Eight Capital LP bought a new position in DigitalOcean in the third quarter valued at $762,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DOCN shares. Piper Sandler increased their target price on DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Canaccord Genuity Group raised their price objective on DigitalOcean from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research note on Monday, May 13th. UBS Group initiated coverage on DigitalOcean in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $40.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $47.00 target price on shares of DigitalOcean in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.00.

Read Our Latest Report on DigitalOcean

DigitalOcean Price Performance

Shares of DOCN opened at $37.05 on Monday. DigitalOcean Holdings, Inc. has a one year low of $19.39 and a one year high of $51.69. The company has a 50-day simple moving average of $35.93 and a two-hundred day simple moving average of $35.65. The firm has a market capitalization of $3.37 billion, a PE ratio of 69.91, a price-to-earnings-growth ratio of 3.63 and a beta of 1.83.

DigitalOcean (NASDAQ:DOCNGet Free Report) last issued its quarterly earnings data on Friday, May 10th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. DigitalOcean had a net margin of 7.01% and a negative return on equity of 26.29%. The business had revenue of $184.73 million during the quarter, compared to analyst estimates of $182.70 million. Analysts expect that DigitalOcean Holdings, Inc. will post 0.78 EPS for the current fiscal year.

DigitalOcean Company Profile

(Free Report)

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).

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Institutional Ownership by Quarter for DigitalOcean (NASDAQ:DOCN)

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