DigitalOcean Holdings, Inc. (NYSE:DOCN) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,464,333 shares of the company's stock after acquiring an additional 106,636 shares during the quarter. Geode Capital Management LLC owned 1.59% of DigitalOcean worth $59,156,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. lifted its stake in shares of DigitalOcean by 1.5% in the 2nd quarter. Sei Investments Co. now owns 30,834 shares of the company's stock worth $1,071,000 after purchasing an additional 468 shares during the period. Nisa Investment Advisors LLC increased its holdings in DigitalOcean by 56.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company's stock valued at $54,000 after buying an additional 483 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in DigitalOcean by 17.8% in the third quarter. Creative Financial Designs Inc. ADV now owns 3,744 shares of the company's stock worth $151,000 after acquiring an additional 566 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of DigitalOcean by 150.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 974 shares of the company's stock worth $39,000 after acquiring an additional 585 shares during the last quarter. Finally, KBC Group NV grew its position in shares of DigitalOcean by 47.6% during the 3rd quarter. KBC Group NV now owns 2,096 shares of the company's stock valued at $85,000 after acquiring an additional 676 shares during the period. Institutional investors own 49.77% of the company's stock.

Wall Street Analyst Weigh In

DOCN has been the topic of several analyst reports. Barclays lifted their target price on DigitalOcean from $38.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. JPMorgan Chase & Co. lifted their price objective on DigitalOcean from $32.00 to $40.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Canaccord Genuity Group increased their target price on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, October 4th. Needham & Company LLC reiterated a "hold" rating on shares of DigitalOcean in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus raised their price objective on shares of DigitalOcean from $35.00 to $40.00 and gave the company a "hold" rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $42.13.

Insider Activity

In other DigitalOcean news, CFO Matt Steinfort sold 12,498 shares of DigitalOcean stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.00, for a total transaction of $499,920.00. Following the completion of the sale, the chief financial officer now directly owns 517,498 shares of the company's stock, valued at $20,699,920. The trade was a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bratin Saha sold 16,989 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $36.85, for a total value of $626,044.65. Following the transaction, the insider now directly owns 390,296 shares in the company, valued at $14,382,407.60. The trade was a 4.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,955 shares of company stock worth $1,258,373. 0.74% of the stock is currently owned by corporate insiders.

DigitalOcean Stock Up 0.7 %

NYSE DOCN traded up $0.25 on Friday, reaching $35.70. The company had a trading volume of 1,712,684 shares, compared to its average volume of 1,210,192. The stock has a market capitalization of $3.29 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 2.47 and a beta of 1.76. DigitalOcean Holdings, Inc. has a 12 month low of $26.63 and a 12 month high of $44.80. The firm's 50 day moving average price is $39.27 and its 200 day moving average price is $37.27.

DigitalOcean (NYSE:DOCN - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.12. The firm had revenue of $198.50 million for the quarter, compared to analysts' expectations of $196.64 million. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The business's revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 earnings per share. On average, research analysts expect that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

About DigitalOcean

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).