Harbor Capital Advisors Inc. Has $1.60 Million Stock Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Harbor Capital Advisors Inc. raised its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 369.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 39,518 shares of the company’s stock after acquiring an additional 31,092 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in DigitalOcean were worth $1,596,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. 180 Wealth Advisors LLC lifted its position in shares of DigitalOcean by 4.4% during the 2nd quarter. 180 Wealth Advisors LLC now owns 7,120 shares of the company’s stock valued at $237,000 after acquiring an additional 297 shares during the period. Sei Investments Co. raised its holdings in shares of DigitalOcean by 1.5% during the second quarter. Sei Investments Co. now owns 30,834 shares of the company’s stock valued at $1,071,000 after purchasing an additional 468 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of DigitalOcean by 56.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock worth $54,000 after purchasing an additional 483 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in DigitalOcean by 17.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,744 shares of the company’s stock worth $151,000 after buying an additional 566 shares during the period. Finally, Empowered Funds LLC boosted its holdings in DigitalOcean by 10.0% in the first quarter. Empowered Funds LLC now owns 7,852 shares of the company’s stock worth $300,000 after acquiring an additional 711 shares in the last quarter. 49.77% of the stock is currently owned by institutional investors.

DigitalOcean Stock Up 1.5 %

DigitalOcean stock opened at $35.86 on Wednesday. The firm has a fifty day simple moving average of $40.40 and a two-hundred day simple moving average of $36.66. DigitalOcean Holdings, Inc. has a twelve month low of $23.65 and a twelve month high of $44.80. The company has a market capitalization of $3.30 billion, a PE ratio of 49.81, a P/E/G ratio of 3.24 and a beta of 1.83.

DigitalOcean (NYSE:DOCN) last issued its earnings results on Monday, November 4th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.12. DigitalOcean had a negative return on equity of 31.71% and a net margin of 9.30%. The company had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $196.64 million. During the same period in the prior year, the business posted $0.17 EPS. DigitalOcean’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that DigitalOcean Holdings, Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DOCN shares. UBS Group lowered their target price on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research note on Tuesday. Canaccord Genuity Group boosted their target price on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Stifel Nicolaus raised their price target on shares of DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DigitalOcean currently has an average rating of “Moderate Buy” and a consensus price target of $40.56.

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).