Deutsche Bank AG Buys 37,951 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Deutsche Bank AG grew its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 84.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,638 shares of the company’s stock after purchasing an additional 37,951 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of DigitalOcean worth $2,815,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DOCN. Hennion & Walsh Asset Management Inc. raised its position in shares of DigitalOcean by 20.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 11,845 shares of the company’s stock valued at $404,000 after purchasing an additional 1,990 shares during the period. Harbor Investment Advisory LLC increased its position in DigitalOcean by 380.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock worth $25,000 after acquiring an additional 570 shares during the period. KBC Group NV increased its position in DigitalOcean by 37.6% during the fourth quarter. KBC Group NV now owns 2,884 shares of the company’s stock worth $98,000 after acquiring an additional 788 shares during the period. Pacer Advisors Inc. increased its position in DigitalOcean by 33.1% during the fourth quarter. Pacer Advisors Inc. now owns 5,712 shares of the company’s stock worth $195,000 after acquiring an additional 1,419 shares during the period. Finally, Cherry Creek Investment Advisors Inc. increased its position in DigitalOcean by 17.3% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 12,745 shares of the company’s stock worth $434,000 after acquiring an additional 1,880 shares during the period. 49.77% of the stock is owned by institutional investors.

DigitalOcean Trading Down 4.9%

DOCN opened at $28.73 on Thursday. The company’s 50 day moving average is $31.11 and its 200-day moving average is $36.07. DigitalOcean Holdings, Inc. has a 1-year low of $25.45 and a 1-year high of $47.02. The company has a market cap of $2.62 billion, a P/E ratio of 33.80, a PEG ratio of 3.12 and a beta of 1.88.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The company had revenue of $210.70 million for the quarter, compared to the consensus estimate of $208.63 million. During the same period last year, the company posted $0.43 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Insider Activity

In related news, insider Bratin Saha sold 3,461 shares of DigitalOcean stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $26.86, for a total transaction of $92,962.46. Following the sale, the insider now directly owns 394,367 shares in the company, valued at $10,592,697.62. This trade represents a 0.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup lowered their price target on shares of DigitalOcean from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price target on shares of DigitalOcean from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Bank of America raised their price target on shares of DigitalOcean from $28.00 to $31.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on shares of DigitalOcean from $46.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.83.

DigitalOcean Company 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).