DigitalOcean Holdings, Inc. (NYSE:DOCN) Shares Bought by BSW Wealth Partners

BSW Wealth Partners grew its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 14,556 shares of the company’s stock after purchasing an additional 600 shares during the period. BSW Wealth Partners’ holdings in DigitalOcean were worth $496,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Cherry Creek Investment Advisors Inc. lifted its holdings in DigitalOcean by 17.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 12,745 shares of the company’s stock valued at $434,000 after acquiring an additional 1,880 shares during the last quarter. Pacer Advisors Inc. raised its position in DigitalOcean by 33.1% in the fourth quarter. Pacer Advisors Inc. now owns 5,712 shares of the company’s stock valued at $195,000 after purchasing an additional 1,419 shares during the period. KBC Group NV lifted its stake in shares of DigitalOcean by 37.6% in the 4th quarter. KBC Group NV now owns 2,884 shares of the company’s stock valued at $98,000 after purchasing an additional 788 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of DigitalOcean by 380.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock worth $25,000 after purchasing an additional 570 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of DigitalOcean by 20.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,845 shares of the company’s stock worth $404,000 after purchasing an additional 1,990 shares during the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Insider Transactions at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,468 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $38.18, for a total transaction of $132,408.24. Following the transaction, the insider now owns 379,795 shares of the company’s stock, valued at approximately $14,500,573.10. This trade represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matt Steinfort sold 12,498 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total value of $499,920.00. Following the completion of the sale, the chief financial officer now directly owns 517,498 shares of the company’s stock, valued at approximately $20,699,920. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,244 shares of company stock worth $1,416,208. 0.74% of the stock is currently owned by insiders.

DigitalOcean Stock Performance

Shares of DigitalOcean stock opened at $41.91 on Thursday. The business has a 50-day simple moving average of $37.08 and a 200-day simple moving average of $37.51. DigitalOcean Holdings, Inc. has a one year low of $26.63 and a one year high of $44.80. The company has a market cap of $3.87 billion, a PE ratio of 49.30, a P/E/G ratio of 2.77 and a beta of 1.78.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.52 EPS 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 analysts’ expectations 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 was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. On average, sell-side analysts predict that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DOCN shares. Morgan Stanley raised shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $41.00 in a research report on Thursday, January 16th. JMP Securities upped their price objective on shares of DigitalOcean from $47.00 to $55.00 and gave the stock a “market outperform” rating in a report on Monday. Citigroup started coverage on shares of DigitalOcean in a report on Friday, January 24th. They issued a “buy” rating and a $45.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective on DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.73.

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).