DigitalOcean Holdings, Inc. (NYSE:DOCN) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,244 shares of the company’s stock after acquiring an additional 11,481 shares during the quarter. Nordea Investment Management AB owned about 0.29% of DigitalOcean worth $9,196,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DOCN. Geode Capital Management LLC boosted its holdings in shares of DigitalOcean by 7.9% during the third quarter. Geode Capital Management LLC now owns 1,464,333 shares of the company’s stock worth $59,156,000 after purchasing an additional 106,636 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of DigitalOcean by 32.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,397,588 shares of the company’s stock valued at $56,449,000 after acquiring an additional 345,119 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of DigitalOcean by 10.4% in the third quarter. Principal Financial Group Inc. now owns 1,301,499 shares of the company’s stock worth $52,568,000 after acquiring an additional 122,651 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in DigitalOcean by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,079,579 shares of the company’s stock valued at $37,512,000 after purchasing an additional 205,007 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in DigitalOcean by 14.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 565,763 shares of the company’s stock worth $22,851,000 after purchasing an additional 70,700 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company’s stock.

DigitalOcean Stock Down 1.3 %

DOCN stock opened at $34.49 on Friday. The company has a market capitalization of $3.18 billion, a PE ratio of 40.58, a P/E/G ratio of 2.47 and a beta of 1.78. The stock’s 50 day moving average is $37.28 and its two-hundred day moving average is $37.15. DigitalOcean Holdings, Inc. has a 52-week low of $26.63 and a 52-week high of $44.80.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.12. The company had revenue of $198.50 million during the quarter, compared to analyst estimates of $196.64 million. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $0.17 EPS. As a group, sell-side analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DOCN. Stifel Nicolaus upped their price objective on DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. increased their target price on shares of DigitalOcean from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Canaccord Genuity Group boosted their price objective on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Barclays lifted their target price on shares of DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, DigitalOcean currently has a consensus rating of “Hold” and a consensus target price of $42.13.

Insiders Place Their Bets

In related news, insider Bratin Saha sold 3,468 shares of DigitalOcean stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $38.18, for a total value of $132,408.24. Following the sale, the insider now directly owns 379,795 shares in the company, valued at $14,500,573.10. This trade represents a 0.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matt Steinfort sold 12,498 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.00, for a total transaction of $499,920.00. Following the completion of the transaction, the chief financial officer now owns 517,498 shares of the company’s stock, valued at approximately $20,699,920. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,955 shares of company stock valued at $1,258,373 in the last quarter. Insiders own 0.74% of the company’s stock.

About DigitalOcean

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).