Charles Schwab Investment Management Inc. Boosts Stock Holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Charles Schwab Investment Management Inc. increased its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 3.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 583,920 shares of the company’s stock after acquiring an additional 18,157 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in DigitalOcean were worth $19,894,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Harbor Investment Advisory LLC boosted its position in shares of DigitalOcean by 380.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock valued at $25,000 after acquiring an additional 570 shares during the period. Advisors Asset Management Inc. lifted its position in DigitalOcean by 150.4% during the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock valued at $39,000 after purchasing an additional 585 shares during the last quarter. BSW Wealth Partners lifted its position in DigitalOcean by 4.3% during the fourth quarter. BSW Wealth Partners now owns 14,556 shares of the company’s stock valued at $496,000 after purchasing an additional 600 shares during the last quarter. KBC Group NV lifted its position in DigitalOcean by 47.6% during the third quarter. KBC Group NV now owns 2,096 shares of the company’s stock valued at $85,000 after purchasing an additional 676 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in DigitalOcean by 7.7% during the third quarter. Mutual of America Capital Management LLC now owns 9,516 shares of the company’s stock valued at $384,000 after purchasing an additional 683 shares during the last quarter. 49.77% of the stock is currently owned by institutional investors.

DigitalOcean Stock Up 1.7 %

Shares of NYSE DOCN opened at $36.41 on Thursday. DigitalOcean Holdings, Inc. has a 52 week low of $26.63 and a 52 week high of $47.02. The firm’s fifty day moving average is $39.91 and its 200 day moving average is $39.30. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 42.83, a PEG ratio of 3.12 and a beta of 1.80.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price 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. Morgan Stanley upgraded shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $41.00 in a research report on Thursday, January 16th. UBS Group lifted their target price on shares of DigitalOcean from $39.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Citigroup started coverage on shares of DigitalOcean in a research report on Friday, January 24th. They set a “buy” rating and a $45.00 target price for the company. Finally, Stifel Nicolaus boosted their price objective on shares of DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, DigitalOcean presently has an average rating of “Hold” and an average price target of $43.27.

Insider Buying and Selling

In related news, insider Bratin Saha sold 3,948 shares of DigitalOcean 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 directly owns 358,696 shares of the company’s stock, valued at $13,139,034.48. The trade was a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is owned by insiders.

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).