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

Vanguard Group Inc. increased its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,434,555 shares of the company's stock after buying an additional 117,133 shares during the quarter. Vanguard Group Inc. owned 9.14% of DigitalOcean worth $287,365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hillsdale Investment Management Inc. grew its stake 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 acquiring an additional 300 shares in the last quarter. Harbor Investment Advisory LLC boosted its holdings in DigitalOcean by 380.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 720 shares of the company's stock worth $25,000 after purchasing an additional 570 shares during the last quarter. BSW Wealth Partners grew its position in DigitalOcean by 4.3% in the 4th quarter. BSW Wealth Partners now owns 14,556 shares of the company's stock worth $496,000 after purchasing an additional 600 shares in the last quarter. Stifel Financial Corp increased its stake in DigitalOcean by 3.6% in the 3rd quarter. Stifel Financial Corp now owns 22,218 shares of the company's stock valued at $897,000 after buying an additional 777 shares during the last quarter. Finally, KBC Group NV lifted its position 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 buying an additional 788 shares in the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at DigitalOcean

In other news, insider Bratin Saha sold 3,948 shares of the company's 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.74% of the company's stock.

DigitalOcean Stock Up 19.9 %

DOCN traded up $5.16 during trading on Wednesday, reaching $31.07. 3,471,614 shares of the company were exchanged, compared to its average volume of 1,284,094. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 3.12 and a beta of 1.87. DigitalOcean Holdings, Inc. has a 12-month low of $25.15 and a 12-month high of $47.02. The company's 50-day moving average is $38.32 and its two-hundred day moving average is $38.56.

Analysts Set New Price Targets

A number of analysts recently commented on DOCN shares. JMP Securities increased their price target on DigitalOcean from $47.00 to $55.00 and gave the company a "market outperform" rating in a research report on Monday, January 27th. Citigroup started coverage on DigitalOcean in a research report on Friday, January 24th. They set a "buy" rating and a $45.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of DigitalOcean from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a research report on Monday. Finally, Stifel Nicolaus lowered their price target on shares of DigitalOcean from $40.00 to $33.00 and set a "hold" rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $42.18.

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).