Vanguard Group Inc. Purchases 117,133 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Vanguard Group Inc. raised its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 1.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,434,555 shares of the company’s stock after purchasing an additional 117,133 shares during the period. Vanguard Group Inc. owned 0.09% of DigitalOcean worth $287,365,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hillsdale Investment Management Inc. boosted its holdings in shares of DigitalOcean by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 84,500 shares of the company’s stock worth $2,879,000 after buying an additional 300 shares during the last quarter. Harbor Investment Advisory LLC raised its position in DigitalOcean by 380.0% in 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. BSW Wealth Partners boosted its stake in DigitalOcean by 4.3% in the fourth quarter. BSW Wealth Partners now owns 14,556 shares of the company’s stock valued at $496,000 after acquiring an additional 600 shares during the last quarter. Stifel Financial Corp grew its position in shares of DigitalOcean by 3.6% during the 3rd quarter. Stifel Financial Corp now owns 22,218 shares of the company’s stock valued at $897,000 after acquiring an additional 777 shares during the period. Finally, KBC Group NV increased its stake in shares of DigitalOcean by 37.6% during the 4th quarter. KBC Group NV now owns 2,884 shares of the company’s stock worth $98,000 after purchasing an additional 788 shares during the last quarter. Institutional investors own 49.77% of the company’s stock.

DigitalOcean Stock Down 8.3 %

DigitalOcean stock opened at $28.64 on Friday. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 3.12 and a beta of 1.80. The business has a 50-day simple moving average of $39.63 and a 200 day simple moving average of $39.03. DigitalOcean Holdings, Inc. has a 52 week low of $26.63 and a 52 week high of $47.02.

Insider Activity

In other news, insider Bratin Saha sold 3,948 shares of DigitalOcean stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $36.63, for a total transaction of $144,615.24. Following the completion of the sale, the insider now directly owns 358,696 shares of the company’s stock, valued at approximately $13,139,034.48. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Stifel Nicolaus increased their price objective on DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. UBS Group lifted their price objective on DigitalOcean from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a report on Wednesday, February 26th. JMP Securities boosted their price target on shares of DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a research report on Monday, January 27th. Finally, Citigroup initiated coverage on shares of DigitalOcean in a research note on Friday, January 24th. They set a “buy” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $43.27.

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).