Vanguard Group Inc. Has $270.67 Million Stock Holdings in DigitalOcean Holdings, Inc. $DOCN

Vanguard Group Inc. cut its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,106,296 shares of the company’s stock after selling 328,259 shares during the quarter. Vanguard Group Inc. owned 8.89% of DigitalOcean worth $270,669,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DOCN. Jacobs Levy Equity Management Inc. lifted its stake in DigitalOcean by 16.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,628,995 shares of the company’s stock worth $55,500,000 after purchasing an additional 231,407 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in DigitalOcean by 7.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,545,642 shares of the company’s stock worth $52,660,000 after purchasing an additional 105,235 shares during the period. First Trust Advisors LP lifted its stake in DigitalOcean by 6.2% during the fourth quarter. First Trust Advisors LP now owns 1,533,699 shares of the company’s stock worth $52,253,000 after purchasing an additional 89,349 shares during the period. Dimensional Fund Advisors LP lifted its stake in DigitalOcean by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,193,881 shares of the company’s stock worth $40,676,000 after purchasing an additional 57,388 shares during the period. Finally, Northern Trust Corp lifted its stake in DigitalOcean by 14.8% during the fourth quarter. Northern Trust Corp now owns 725,960 shares of the company’s stock worth $24,733,000 after purchasing an additional 93,347 shares during the period. 49.77% of the stock is owned by institutional investors and hedge funds.

DigitalOcean Price Performance

DOCN stock opened at $31.03 on Monday. The company has a 50 day moving average price of $29.13 and a 200 day moving average price of $32.48. DigitalOcean Holdings, Inc. has a fifty-two week low of $25.45 and a fifty-two week high of $47.02. The stock has a market capitalization of $2.82 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.81 and a beta of 1.75.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.12. DigitalOcean had a net margin of 15.18% and a negative return on equity of 73.19%. The firm had revenue of $218.70 million during the quarter, compared to analysts’ expectations of $216.62 million. During the same quarter in the previous year, the company posted $0.48 EPS. DigitalOcean’s revenue was up 13.6% on a year-over-year basis. As a group, equities analysts expect that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DigitalOcean news, insider Bratin Saha sold 3,461 shares of DigitalOcean stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $27.77, for a total transaction of $96,111.97. Following the completion of the sale, the insider owned 294,546 shares of the company’s stock, valued at approximately $8,179,542.42. The trade was a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on DOCN shares. Citigroup cut their price target on shares of DigitalOcean from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. UBS Group cut their target price on shares of DigitalOcean from $44.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Canaccord Genuity Group lifted their target price on shares of DigitalOcean from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of DigitalOcean from a “hold” rating to a “buy” rating in a research note on Sunday, June 29th. Finally, Morgan Stanley lifted their target price on shares of DigitalOcean from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, DigitalOcean has an average rating of “Hold” and a consensus target price of $41.45.

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).