Intech Investment Management LLC Takes Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Intech Investment Management LLC bought a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 17,240 shares of the company's stock, valued at approximately $696,000.

Several other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in shares of DigitalOcean during the third quarter worth $30,000. Advisors Asset Management Inc. lifted its holdings in 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 buying an additional 585 shares during the period. Blue Trust Inc. grew its position in shares of DigitalOcean by 380.6% in the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company's stock valued at $49,000 after buying an additional 959 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of DigitalOcean by 56.4% in 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 period. Finally, KBC Group NV increased its stake in shares of DigitalOcean by 47.6% in the third quarter. KBC Group NV now owns 2,096 shares of the company's stock valued at $85,000 after buying an additional 676 shares during the period. 49.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other DigitalOcean news, insider Bratin Saha sold 16,989 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $626,044.65. Following the completion of the sale, the insider now directly owns 390,296 shares of the company's stock, valued at approximately $14,382,407.60. The trade was a 4.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.74% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on DOCN. Barclays upped their target price on DigitalOcean from $38.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Stifel Nicolaus increased their price objective on shares of DigitalOcean from $32.00 to $35.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of DigitalOcean from $32.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, October 25th. UBS Group decreased their price target on DigitalOcean from $40.00 to $34.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, DigitalOcean has an average rating of "Hold" and a consensus target price of $41.50.

DigitalOcean Price Performance

Shares of DOCN traded up $0.20 during trading hours on Friday, hitting $38.08. The stock had a trading volume of 301,588 shares, compared to its average volume of 1,236,854. DigitalOcean Holdings, Inc. has a 1-year low of $26.63 and a 1-year high of $44.80. The firm has a market capitalization of $3.51 billion, a P/E ratio of 44.86, a price-to-earnings-growth ratio of 2.43 and a beta of 1.83. The firm has a 50 day simple moving average of $40.33 and a 200-day simple moving average of $37.17.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.12. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The firm had revenue of $198.50 million during the quarter, compared to analysts' expectations of $196.64 million. During the same quarter last year, the firm posted $0.17 earnings per share. The company's revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts predict that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

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).