Charles Schwab Investment Management Inc. increased its position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 583,920 shares of the company's stock after purchasing an additional 18,157 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of DigitalOcean worth $19,894,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. FORA Capital LLC bought a new stake in shares of DigitalOcean in the 3rd quarter valued at about $1,149,000. Victory Capital Management Inc. raised its holdings in shares of DigitalOcean by 79.8% in the 3rd quarter. Victory Capital Management Inc. now owns 31,169 shares of the company's stock valued at $1,259,000 after purchasing an additional 13,837 shares during the period. Oppenheimer & Co. Inc. acquired a new position in DigitalOcean in the 4th quarter valued at about $333,000. Illinois Municipal Retirement Fund acquired a new position in DigitalOcean in the 4th quarter valued at about $1,139,000. Finally, Bank of New York Mellon Corp grew its stake in DigitalOcean by 19.7% in the 4th quarter. Bank of New York Mellon Corp now owns 791,861 shares of the company's stock valued at $26,979,000 after buying an additional 130,263 shares during the last quarter. 49.77% of the stock is owned by institutional investors.
Insider Transactions at DigitalOcean
In other news, insider Bratin Saha sold 3,948 shares of the company's stock in a transaction that occurred 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 owns 358,696 shares of the company's stock, valued at approximately $13,139,034.48. This represents a 1.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.74% of the stock is currently owned by insiders.
DigitalOcean Trading Up 0.6 %
Shares of NYSE:DOCN traded up $0.21 on Friday, reaching $36.76. 1,554,306 shares of the company's stock were exchanged, compared to its average volume of 1,209,530. The company has a fifty day moving average of $40.00 and a 200-day moving average of $39.31. DigitalOcean Holdings, Inc. has a twelve month low of $26.63 and a twelve month high of $47.02. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 43.25, a PEG ratio of 3.12 and a beta of 1.80.
Analysts Set New Price Targets
A number of brokerages recently commented on DOCN. JMP Securities upped their price target on shares of DigitalOcean from $47.00 to $55.00 and gave the company a "market outperform" rating in a research note on Monday, January 27th. Morgan Stanley upgraded shares of DigitalOcean from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $40.00 to $41.00 in a research note on Thursday, January 16th. UBS Group upped their price target on shares of DigitalOcean from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a "hold" rating on shares of DigitalOcean in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group upped their price target on shares of DigitalOcean from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $43.27.
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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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