Janus Henderson Group PLC Has $8.27 Million Stock Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Janus Henderson Group PLC boosted its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,776 shares of the company's stock after buying an additional 56,953 shares during the quarter. Janus Henderson Group PLC owned approximately 0.26% of DigitalOcean worth $8,271,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DOCN. Graham Capital Management L.P. bought a new stake in shares of DigitalOcean in the 4th quarter valued at approximately $349,000. Focus Partners Wealth lifted its stake in DigitalOcean by 2.8% in the fourth quarter. Focus Partners Wealth now owns 12,455 shares of the company's stock valued at $424,000 after acquiring an additional 338 shares during the last quarter. Deutsche Bank AG grew its position in DigitalOcean by 84.9% in the fourth quarter. Deutsche Bank AG now owns 82,638 shares of the company's stock worth $2,815,000 after acquiring an additional 37,951 shares in the last quarter. Ameriprise Financial Inc. grew its position in DigitalOcean by 8.3% in the fourth quarter. Ameriprise Financial Inc. now owns 248,196 shares of the company's stock worth $8,456,000 after acquiring an additional 19,115 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of DigitalOcean during the 4th quarter worth $315,000. Institutional investors and hedge funds own 49.77% of the company's stock.

DigitalOcean Stock Down 3.8%

Shares of DOCN stock traded down $1.10 during trading hours on Friday, reaching $28.03. 1,569,106 shares of the company's stock were exchanged, compared to its average volume of 1,249,702. DigitalOcean Holdings, Inc. has a fifty-two week low of $25.45 and a fifty-two week high of $47.02. The stock has a market capitalization of $2.55 billion, a P/E ratio of 32.98, a P/E/G ratio of 3.12 and a beta of 1.88. The business has a fifty 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 earnings results on Tuesday, May 6th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.45 by $0.11. The firm had revenue of $210.70 million during the quarter, compared to analysts' expectations of $208.63 million. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The business's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS. As a group, research analysts expect that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity

In related news, insider Bratin Saha sold 3,461 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $26.86, for a total value of $92,962.46. Following the completion of the transaction, the insider now directly owns 394,367 shares of the company's stock, valued at $10,592,697.62. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group reduced their price objective on shares of DigitalOcean from $44.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Cantor Fitzgerald boosted their price target on DigitalOcean from $39.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. JMP Securities increased their price objective on DigitalOcean from $47.00 to $55.00 and gave the company a "market outperform" rating in a report on Monday, January 27th. Citigroup cut their price objective on DigitalOcean from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Morgan Stanley reduced their target price on DigitalOcean from $52.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target 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).