Deutsche Bank AG Has $2.82 Million Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Deutsche Bank AG raised its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 84.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,638 shares of the company's stock after buying an additional 37,951 shares during the quarter. Deutsche Bank AG owned about 0.09% of DigitalOcean worth $2,815,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC lifted its stake in 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 buying an additional 570 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in DigitalOcean in the fourth quarter valued at approximately $66,000. KBC Group NV raised its holdings in shares of DigitalOcean by 37.6% in the fourth 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. New Age Alpha Advisors LLC acquired a new stake in shares of DigitalOcean in the fourth quarter valued at approximately $115,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of DigitalOcean in the fourth quarter valued at approximately $133,000. Institutional investors own 49.77% of the company's stock.

Insider Buying and Selling at DigitalOcean

In related news, insider Bratin Saha sold 3,461 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $26.86, for a total value of $92,962.46. Following the transaction, the insider now directly owns 394,367 shares in the company, valued at approximately $10,592,697.62. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.96% of the company's stock.

DigitalOcean Trading Down 3.8%

Shares of NYSE:DOCN traded down $1.10 on Friday, hitting $28.03. The company had a trading volume of 1,569,106 shares, compared to its average volume of 1,252,714. DigitalOcean Holdings, Inc. has a 1-year low of $25.45 and a 1-year high of $47.02. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 3.12 and a beta of 1.88. The stock has a 50 day moving average price of $30.80 and a 200 day moving average price of $35.97.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.45 by $0.11. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The firm had revenue of $210.70 million for the quarter, compared to the consensus estimate of $208.63 million. During the same period in the previous year, the company earned $0.43 earnings per share. The company's quarterly revenue was up 14.1% on a year-over-year basis. Sell-side analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DOCN has been the topic of a number of recent research reports. Citigroup lowered their price objective on shares of DigitalOcean from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Needham & Company LLC reiterated a "hold" rating on shares of DigitalOcean in a report on Tuesday, May 6th. The Goldman Sachs Group lowered their price objective on shares of DigitalOcean from $46.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Cantor Fitzgerald lifted their price objective on shares of DigitalOcean from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Finally, Barclays lowered their price objective on shares of DigitalOcean from $48.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. One research 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $39.83.

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).