Janus Henderson Group PLC Acquires 56,953 Shares of 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 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,776 shares of the company's stock after purchasing an additional 56,953 shares during the period. Janus Henderson Group PLC owned about 0.26% of DigitalOcean worth $8,271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DOCN. Graham Capital Management L.P. bought a new position in shares of DigitalOcean during the fourth quarter valued at $349,000. Focus Partners Wealth raised its stake in shares of DigitalOcean by 2.8% during 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 raised its stake in shares of DigitalOcean by 84.9% during the fourth quarter. Deutsche Bank AG now owns 82,638 shares of the company's stock valued at $2,815,000 after acquiring an additional 37,951 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of DigitalOcean by 8.3% during the fourth quarter. Ameriprise Financial Inc. now owns 248,196 shares of the company's stock valued at $8,456,000 after acquiring an additional 19,115 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of DigitalOcean during the fourth quarter valued at $315,000. Institutional investors own 49.77% of the company's stock.

Insider Activity

In other 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 transaction of $92,962.46. Following the transaction, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.96% of the company's stock.

Analysts Set New Price Targets

DOCN has been the subject of several analyst reports. Bank of America raised their price target on shares of DigitalOcean from $28.00 to $31.00 and gave the company an "underperform" rating in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a research note on Tuesday, May 6th. Cantor Fitzgerald raised their price target on shares of DigitalOcean from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group dropped their price target on shares of DigitalOcean from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Barclays dropped their price target on shares of DigitalOcean from $48.00 to $38.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, DigitalOcean presently has an average rating of "Hold" and an average target price of $39.83.

DigitalOcean Price Performance

NYSE DOCN traded down $1.49 during mid-day trading on Wednesday, reaching $28.73. 1,423,110 shares of the stock were exchanged, compared to its average volume of 1,243,840. DigitalOcean Holdings, Inc. has a one year low of $25.45 and a one year high of $47.02. The stock has a 50 day simple moving average of $31.26 and a 200-day simple moving average of $36.12. The stock has a market cap of $2.62 billion, a P/E ratio of 33.80, a P/E/G ratio of 3.12 and a beta of 1.88.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $208.63 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The business's revenue was up 14.1% compared to the same quarter last year. Sell-side analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

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).