Dynamic Technology Lab Private Ltd Buys New Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,898 shares of the company's stock, valued at approximately $542,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in DigitalOcean by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,434,555 shares of the company's stock worth $287,365,000 after acquiring an additional 117,133 shares during the period. Geode Capital Management LLC raised its stake in shares of DigitalOcean by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,473,421 shares of the company's stock worth $50,211,000 after buying an additional 9,088 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of DigitalOcean by 10.4% in the third quarter. Principal Financial Group Inc. now owns 1,301,499 shares of the company's stock valued at $52,568,000 after buying an additional 122,651 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in DigitalOcean by 6.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,231,125 shares of the company's stock valued at $41,944,000 after buying an additional 77,145 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in DigitalOcean by 19.7% during the fourth quarter. Bank of New York Mellon Corp now owns 791,861 shares of the company's stock worth $26,979,000 after acquiring an additional 130,263 shares during the period. Institutional investors own 49.77% of the company's stock.

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Insider Transactions at DigitalOcean

In related 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 value 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. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.74% of the stock is currently owned by company insiders.

DigitalOcean Price Performance

DigitalOcean stock traded down $0.66 during trading hours on Friday, hitting $27.56. The company had a trading volume of 1,496,729 shares, compared to its average volume of 1,292,909. The firm's fifty day moving average is $37.81 and its 200-day moving average is $38.36. The firm has a market capitalization of $2.54 billion, a P/E ratio of 32.42, a price-to-earnings-growth ratio of 3.12 and a beta of 1.87. DigitalOcean Holdings, Inc. has a fifty-two week low of $25.45 and a fifty-two week high of $47.02.

Wall Street Analyst Weigh In

DOCN has been the subject of several research reports. Canaccord Genuity Group reduced their price objective on shares of DigitalOcean from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, April 7th. The Goldman Sachs Group restated a "buy" rating on shares of DigitalOcean in a report on Saturday, March 1st. Citigroup started coverage on DigitalOcean in a research report on Friday, January 24th. They set a "buy" rating and a $45.00 price objective for the company. UBS Group upped their target price on DigitalOcean from $39.00 to $44.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price target on DigitalOcean from $40.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $42.18.

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).