Geode Capital Management LLC Has $50.21 Million Holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Geode Capital Management LLC lifted its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,473,421 shares of the company's stock after purchasing an additional 9,088 shares during the period. Geode Capital Management LLC owned about 1.60% of DigitalOcean worth $50,211,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of DigitalOcean by 6.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,231,125 shares of the company's stock worth $41,944,000 after purchasing an additional 77,145 shares during the period. New Age Alpha Advisors LLC acquired a new stake in DigitalOcean during the fourth quarter worth about $115,000. Norges Bank acquired a new stake in DigitalOcean during the fourth quarter worth about $14,772,000. Prudential Financial Inc. lifted its holdings in DigitalOcean by 1.1% in the fourth quarter. Prudential Financial Inc. now owns 85,445 shares of the company's stock worth $2,911,000 after acquiring an additional 900 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in DigitalOcean by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 8,434,555 shares of the company's stock valued at $287,365,000 after acquiring an additional 117,133 shares during the period. 49.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOCN has been the topic of several recent research reports. UBS Group raised their price target on DigitalOcean from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Stifel Nicolaus cut their target price on DigitalOcean from $40.00 to $33.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Cantor Fitzgerald upped their price target on shares of DigitalOcean from $39.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Morgan Stanley cut their price objective on shares of DigitalOcean from $52.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on DigitalOcean from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $42.18.

Insiders Place Their Bets

In related news, insider Bratin Saha sold 3,948 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $36.63, for a total transaction of $144,615.24. Following the completion of the sale, the insider now directly owns 358,696 shares in the company, valued at approximately $13,139,034.48. This trade represents a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.74% of the company's stock.

DigitalOcean Price Performance

NYSE DOCN traded down $0.50 on Friday, hitting $27.36. 782,545 shares of the company were exchanged, compared to its average volume of 1,298,331. DigitalOcean Holdings, Inc. has a twelve month low of $25.45 and a twelve month high of $47.02. The company's 50 day moving average price is $36.12 and its 200-day moving average price is $37.95. The firm has a market capitalization of $2.52 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 3.12 and a beta of 1.87.

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).