Rhumbline Advisers increased its position in DigitalOcean Holdings, Inc. (NASDAQ:DOCN – Free Report) by 94.1% during the second quarter, Holdings Channel reports. The firm owned 172,713 shares of the company’s stock after buying an additional 83,722 shares during the quarter. Rhumbline Advisers’ holdings in DigitalOcean were worth $6,002,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Global Retirement Partners LLC bought a new position in shares of DigitalOcean in the first quarter worth about $34,000. FinTrust Capital Advisors LLC bought a new position in DigitalOcean during the first quarter valued at about $36,000. Covestor Ltd raised its position in shares of DigitalOcean by 571.4% in the first quarter. Covestor Ltd now owns 1,947 shares of the company’s stock valued at $74,000 after purchasing an additional 1,657 shares during the period. Scarborough Advisors LLC bought a new position in DigitalOcean in the 4th quarter worth about $98,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in DigitalOcean in the 4th quarter worth about $102,000. 49.77% of the stock is owned by institutional investors.
DigitalOcean Trading Up 0.4 %
DigitalOcean stock opened at $40.33 on Friday. DigitalOcean Holdings, Inc. has a 12 month low of $19.39 and a 12 month high of $41.58. The firm has a market cap of $3.71 billion, a PE ratio of 76.10, a P/E/G ratio of 3.15 and a beta of 1.83. The stock’s 50 day simple moving average is $34.53 and its two-hundred day simple moving average is $35.75.
Wall Street Analysts Forecast Growth
DOCN has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of DigitalOcean from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Barclays dropped their price target on shares of DigitalOcean from $43.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus upped their target price on shares of DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, UBS Group cut their price objective on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, DigitalOcean currently has a consensus rating of “Moderate Buy” and an average price target of $37.67.
View Our Latest Stock Analysis on DigitalOcean
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).
Recommended Stories
- Five stocks we like better than DigitalOcean
- There Are Different Types of Stock To Invest In
- Can Celsius Stock Rebound? Analysts See 74% Upside Potential
- Canadian Penny Stocks: Can They Make You Rich?
- Kroger Stock is a Win-Win for Buy-and-Hold Investors
- How to buy stock: A step-by-step guide for beginners
- MarketBeat Week in Review – 9/9 – 9/13
Want to see what other hedge funds are holding DOCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DigitalOcean Holdings, Inc. (NASDAQ:DOCN – Free Report).
Receive News & Ratings for DigitalOcean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DigitalOcean and related companies with MarketBeat.com's FREE daily email newsletter.