Vanguard Group Inc. Sells 359,156 Shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Vanguard Group Inc. lowered its stake in shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN) by 5.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,032,137 shares of the company’s stock after selling 359,156 shares during the quarter. Vanguard Group Inc. owned 6.64% of DigitalOcean worth $221,319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. raised its stake in shares of DigitalOcean by 16.7% in the fourth quarter. Assetmark Inc. now owns 2,809 shares of the company’s stock valued at $103,000 after acquiring an additional 403 shares during the period. Householder Group Estate & Retirement Specialist LLC grew its holdings in DigitalOcean by 41.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,399 shares of the company’s stock valued at $88,000 after purchasing an additional 698 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in DigitalOcean in the 4th quarter worth about $35,000. Arizona State Retirement System lifted its stake in DigitalOcean by 6.4% in the fourth quarter. Arizona State Retirement System now owns 16,144 shares of the company’s stock worth $592,000 after purchasing an additional 971 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of DigitalOcean by 1.1% during the third quarter. Rhumbline Advisers now owns 89,640 shares of the company’s stock valued at $2,154,000 after buying an additional 1,017 shares during the period. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DOCN shares. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research note on Monday, May 13th. JMP Securities reissued a “market outperform” rating and set a $47.00 target price on shares of DigitalOcean in a research note on Monday, May 13th. Canaccord Genuity Group raised their price target on shares of DigitalOcean from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, UBS Group started coverage on shares of DigitalOcean in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.00.

Insider Transactions at DigitalOcean

In related news, Director Amy Butte sold 5,220 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $37.46, for a total transaction of $195,541.20. Following the transaction, the director now directly owns 36,417 shares in the company, valued at approximately $1,364,180.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.74% of the company’s stock.

DigitalOcean Trading Down 0.3 %

Shares of NASDAQ:DOCN opened at $34.65 on Tuesday. The company has a market capitalization of $3.16 billion, a PE ratio of 65.38, a P/E/G ratio of 3.40 and a beta of 1.82. DigitalOcean Holdings, Inc. has a 12-month low of $19.39 and a 12-month high of $51.69. The business’s fifty day simple moving average is $35.63 and its 200-day simple moving average is $36.41.

DigitalOcean (NASDAQ:DOCN) last released its quarterly earnings results on Friday, May 10th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The business had revenue of $184.73 million for the quarter, compared to analysts’ expectations of $182.70 million. DigitalOcean had a net margin of 7.01% and a negative return on equity of 26.29%. Research analysts predict that DigitalOcean Holdings, Inc. will post 0.78 EPS for the current year.

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).