DigitalOcean Holdings, Inc. (NYSE:DOCN) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp boosted its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,218 shares of the company’s stock after buying an additional 777 shares during the period. Stifel Financial Corp’s holdings in DigitalOcean were worth $897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC acquired a new position in DigitalOcean during the third quarter worth $30,000. Advisors Asset Management Inc. grew its holdings in shares of DigitalOcean by 150.4% in the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock valued at $39,000 after purchasing an additional 585 shares during the period. Blue Trust Inc. increased its position in DigitalOcean by 380.6% during the third quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $49,000 after purchasing an additional 959 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of DigitalOcean by 56.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock valued at $54,000 after buying an additional 483 shares during the period. Finally, KBC Group NV grew its position in DigitalOcean by 47.6% in the third quarter. KBC Group NV now owns 2,096 shares of the company’s stock worth $85,000 after acquiring an additional 676 shares during the period. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Insider Transactions at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 16,989 shares of DigitalOcean stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $626,044.65. Following the completion of the transaction, the insider now owns 390,296 shares in the company, valued at approximately $14,382,407.60. The trade was a 4.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matt Steinfort sold 12,498 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.00, for a total value of $499,920.00. Following the completion of the transaction, the chief financial officer now directly owns 517,498 shares of the company’s stock, valued at approximately $20,699,920. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,955 shares of company stock valued at $1,258,373. Corporate insiders own 0.74% of the company’s stock.

Analyst Ratings Changes

DOCN has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Stifel Nicolaus upped their price objective on shares of DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. raised their target price on DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Barclays boosted their price target on shares of DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $42.13.

DigitalOcean Stock Performance

NYSE DOCN opened at $35.58 on Wednesday. DigitalOcean Holdings, Inc. has a one year low of $26.63 and a one year high of $44.80. The firm has a market cap of $3.28 billion, a PE ratio of 41.86, a P/E/G ratio of 2.47 and a beta of 1.76. The firm’s fifty day moving average is $39.11 and its two-hundred day moving average is $37.25.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The business had revenue of $198.50 million for the quarter, compared to analyst estimates of $196.64 million. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.17 earnings per share. Research analysts predict that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

DigitalOcean 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).