Dimensional Fund Advisors LP Purchases 205,007 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Dimensional Fund Advisors LP increased its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 23.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,079,579 shares of the company’s stock after buying an additional 205,007 shares during the period. Dimensional Fund Advisors LP owned about 1.19% of DigitalOcean worth $37,512,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Mubadala Investment Co PJSC acquired a new stake in DigitalOcean in the fourth quarter worth about $21,881,000. Private Advisor Group LLC grew its position in DigitalOcean by 637.6% during the 1st quarter. Private Advisor Group LLC now owns 48,378 shares of the company’s stock worth $1,847,000 after purchasing an additional 41,819 shares during the last quarter. Vanguard Group Inc. increased its stake in DigitalOcean by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 6,728,563 shares of the company’s stock valued at $256,897,000 after purchasing an additional 696,426 shares in the last quarter. Vima LLC purchased a new position in shares of DigitalOcean in the fourth quarter worth $1,127,000. Finally, Janus Henderson Group PLC lifted its stake in shares of DigitalOcean by 10.7% during the first quarter. Janus Henderson Group PLC now owns 205,327 shares of the company’s stock worth $7,839,000 after buying an additional 19,807 shares during the period. 49.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DOCN shares. Stifel Nicolaus lifted their target price on DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, August 9th. UBS Group dropped their price objective on shares of DigitalOcean from $40.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Piper Sandler reduced their target price on shares of DigitalOcean from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Barclays decreased their target price on shares of DigitalOcean from $43.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.67.

DigitalOcean Stock Down 1.6 %

NYSE:DOCN opened at $40.37 on Tuesday. DigitalOcean Holdings, Inc. has a 52 week low of $19.39 and a 52 week high of $43.88. The stock’s 50-day moving average price is $36.30 and its 200-day moving average price is $35.91. The stock has a market capitalization of $3.68 billion, a PE ratio of 76.17, a price-to-earnings-growth ratio of 3.26 and a beta of 1.83.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.39 by $0.09. DigitalOcean had a negative return on equity of 31.71% and a net margin of 9.30%. The company had revenue of $192.00 million for the quarter, compared to analyst estimates of $188.63 million. During the same period last year, the company earned $0.11 earnings per share. DigitalOcean’s quarterly revenue was up 13.1% compared to the same quarter last year. Sell-side analysts expect that DigitalOcean Holdings, Inc. will post 0.86 earnings per share for the current fiscal year.

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).