DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Shares Purchased by River Global Investors LLP

River Global Investors LLP raised its stake in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) by 171.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,343 shares of the company’s stock after purchasing an additional 10,965 shares during the period. River Global Investors LLP’s holdings in DigitalOcean were worth $636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group purchased a new stake in DigitalOcean during the 3rd quarter worth about $7,029,000. Van Berkom & Associates Inc. raised its holdings in shares of DigitalOcean by 25.2% in the third quarter. Van Berkom & Associates Inc. now owns 1,431,401 shares of the company’s stock valued at $34,397,000 after buying an additional 288,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in DigitalOcean by 36.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 901,325 shares of the company’s stock worth $33,070,000 after acquiring an additional 241,706 shares during the period. Jacobs Levy Equity Management Inc. grew its position in DigitalOcean by 40.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 784,046 shares of the company’s stock valued at $18,841,000 after buying an additional 224,477 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of DigitalOcean by 3.3% in the third quarter. Vanguard Group Inc. now owns 6,391,293 shares of the company’s stock valued at $153,583,000 after acquiring an additional 202,179 shares in the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

DigitalOcean Stock Performance

Shares of DOCN stock traded up $0.47 during trading hours on Monday, reaching $34.71. The company had a trading volume of 1,391,264 shares, compared to its average volume of 1,054,316. The company has a market capitalization of $3.17 billion, a P/E ratio of 3,416.00, a price-to-earnings-growth ratio of 2.94 and a beta of 1.83. DigitalOcean Holdings, Inc. has a twelve month low of $19.39 and a twelve month high of $51.69. The stock’s fifty day simple moving average is $36.84 and its 200 day simple moving average is $33.74.

DigitalOcean (NASDAQ:DOCN) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.23. The company had revenue of $180.87 million for the quarter, compared to the consensus estimate of $178.26 million. DigitalOcean had a negative return on equity of 19.85% and a net margin of 0.12%. As a group, equities analysts expect that DigitalOcean Holdings, Inc. will post 0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DOCN shares. JMP Securities reaffirmed a “market outperform” rating and set a $47.00 price target on shares of DigitalOcean in a research note on Thursday, March 21st. Piper Sandler raised their price target on shares of DigitalOcean from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Barclays upped their target price on DigitalOcean from $37.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Finally, Oppenheimer increased their price objective on shares of DigitalOcean from $37.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.78.

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).