Pacer Advisors Inc. Buys 1,419 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Pacer Advisors Inc. lifted its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 33.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,712 shares of the company’s stock after buying an additional 1,419 shares during the period. Pacer Advisors Inc.’s holdings in DigitalOcean were worth $195,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Harbor Investment Advisory LLC increased its holdings in DigitalOcean by 380.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock worth $25,000 after purchasing an additional 570 shares in the last quarter. Farther Finance Advisors LLC bought a new position in DigitalOcean in the 3rd quarter valued at approximately $30,000. Advisors Asset Management Inc. boosted its position in DigitalOcean by 150.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock worth $39,000 after buying an additional 585 shares during the period. JTC Employer Solutions Trustee Ltd bought a new stake in DigitalOcean during the 4th quarter worth approximately $45,000. Finally, Blue Trust Inc. increased its position in DigitalOcean by 380.6% in the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $49,000 after acquiring an additional 959 shares during the period. 49.77% of the stock is currently owned by institutional investors.

DigitalOcean Trading Up 1.3 %

NYSE:DOCN opened at $40.78 on Wednesday. The firm has a fifty day simple moving average of $37.23 and a two-hundred day simple moving average of $37.75. DigitalOcean Holdings, Inc. has a 12 month low of $26.63 and a 12 month high of $44.80. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 47.98, a PEG ratio of 3.01 and a beta of 1.81.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on DOCN shares. Cantor Fitzgerald started coverage on shares of DigitalOcean in a report on Friday, January 17th. They set a “neutral” rating and a $39.00 price target on the stock. JPMorgan Chase & Co. upped their price target on DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. JMP Securities raised their price objective on DigitalOcean from $47.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Monday, January 27th. Morgan Stanley upgraded DigitalOcean from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $41.00 in a report on Thursday, January 16th. Finally, Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DigitalOcean presently has a consensus rating of “Moderate Buy” and an average target price of $42.73.

Insiders Place Their Bets

In other news, CFO Matt Steinfort sold 12,498 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total value of $499,920.00. Following the completion of the sale, the chief financial officer now owns 517,498 shares in the company, valued at $20,699,920. This represents a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bratin Saha sold 16,989 shares of the firm’s 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 transaction, the insider now directly owns 390,296 shares in the company, valued at $14,382,407.60. The trade was a 4.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,244 shares of company stock worth $1,416,208. Corporate insiders own 0.74% of the company’s stock.

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).