BSW Wealth Partners Grows Stock Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

BSW Wealth Partners lifted its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 4.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 14,556 shares of the company’s stock after acquiring an additional 600 shares during the period. BSW Wealth Partners’ holdings in DigitalOcean were worth $496,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Hsbc Holdings PLC raised its stake in DigitalOcean by 47.3% in the 2nd quarter. Hsbc Holdings PLC now owns 10,022 shares of the company’s stock worth $343,000 after acquiring an additional 3,219 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of DigitalOcean by 1.5% during the second quarter. Sei Investments Co. now owns 30,834 shares of the company’s stock worth $1,071,000 after purchasing an additional 468 shares during the period. Thrivent Financial for Lutherans purchased a new stake in DigitalOcean in the second quarter valued at approximately $1,550,000. The Manufacturers Life Insurance Company increased its holdings in DigitalOcean by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,344 shares of the company’s stock worth $1,332,000 after buying an additional 2,830 shares during the period. Finally, Cetera Investment Advisers raised its position in DigitalOcean by 5.0% during the 2nd quarter. Cetera Investment Advisers now owns 59,188 shares of the company’s stock worth $2,057,000 after buying an additional 2,823 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on DOCN shares. Stifel Nicolaus lifted their price objective on shares of DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. upped their price target on shares of DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Barclays lifted their price objective on DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Morgan Stanley upgraded DigitalOcean from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $41.00 in a research note on Thursday, January 16th. Finally, Citigroup initiated coverage on DigitalOcean in a research report on Friday, January 24th. They set a “buy” rating and a $45.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.73.

DigitalOcean Trading Down 0.2 %

Shares of DOCN opened at $41.91 on Thursday. The firm has a market cap of $3.87 billion, a P/E ratio of 49.30, a PEG ratio of 2.77 and a beta of 1.78. DigitalOcean Holdings, Inc. has a 12 month low of $26.63 and a 12 month high of $44.80. The stock’s 50 day moving average is $37.08 and its two-hundred day moving average is $37.51.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.40 by $0.12. The company had revenue of $198.50 million during 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 firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. Equities research analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Insider Buying and Selling

In related news, insider Bratin Saha sold 4,289 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $36.80, for a total value of $157,835.20. Following the completion of the transaction, the insider now directly owns 372,762 shares of the company’s stock, valued at approximately $13,717,641.60. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matt Steinfort sold 12,498 shares of DigitalOcean stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.00, for a total transaction of $499,920.00. Following the sale, the chief financial officer now directly owns 517,498 shares in the company, valued at approximately $20,699,920. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,244 shares of company stock worth $1,416,208 in the last 90 days. 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).