Deutsche Bank AG Increases Stock Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Deutsche Bank AG raised its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 84.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,638 shares of the company's stock after purchasing an additional 37,951 shares during the quarter. Deutsche Bank AG owned 0.09% of DigitalOcean worth $2,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC boosted its stake in shares of 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. purchased a new stake in shares of DigitalOcean during the 4th quarter worth $66,000. KBC Group NV grew its stake in shares of DigitalOcean by 37.6% during the 4th quarter. KBC Group NV now owns 2,884 shares of the company's stock worth $98,000 after purchasing an additional 788 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of DigitalOcean in the 4th quarter valued at about $115,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of DigitalOcean in the fourth quarter valued at about $133,000. Institutional investors and hedge funds own 49.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of DigitalOcean from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Stifel Nicolaus lowered their price target on DigitalOcean from $40.00 to $33.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Cantor Fitzgerald lifted their price objective on DigitalOcean from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on shares of DigitalOcean from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DigitalOcean in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $39.83.

DigitalOcean Stock Performance

DigitalOcean stock traded up $0.84 during midday trading on Tuesday, reaching $28.83. The stock had a trading volume of 1,529,416 shares, compared to its average volume of 1,253,821. The stock's 50-day simple moving average is $30.48 and its 200 day simple moving average is $35.81. DigitalOcean Holdings, Inc. has a twelve month low of $25.45 and a twelve month high of $47.02. The stock has a market capitalization of $2.62 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 3.12 and a beta of 1.88.

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

Insider Transactions at DigitalOcean

In other news, insider Bratin Saha sold 3,948 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $36.63, for a total value of $144,615.24. Following the completion of the sale, the insider now owns 358,696 shares of the company's stock, valued at $13,139,034.48. This represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.96% of the company's stock.

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).