DigitalOcean Holdings, Inc. (NYSE:DOCN) Stock Holdings Increased by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 30.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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’s holdings in DigitalOcean were worth $8,271,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in DigitalOcean by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 8,434,555 shares of the company’s stock valued at $287,365,000 after buying an additional 117,133 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of DigitalOcean by 7.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,545,642 shares of the company’s stock valued at $52,660,000 after acquiring an additional 105,235 shares in the last quarter. First Trust Advisors LP lifted its holdings in DigitalOcean by 6.2% in the 4th quarter. First Trust Advisors LP now owns 1,533,699 shares of the company’s stock worth $52,253,000 after purchasing an additional 89,349 shares during the last quarter. Geode Capital Management LLC boosted its position in DigitalOcean by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,473,421 shares of the company’s stock worth $50,211,000 after purchasing an additional 9,088 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in DigitalOcean by 6.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,231,125 shares of the company’s stock valued at $41,944,000 after purchasing an additional 77,145 shares during the last quarter. 49.77% of the stock is currently owned by institutional investors and hedge funds.

DigitalOcean Stock Up 1.2%

Shares of DOCN opened at $31.05 on Friday. The stock’s 50-day moving average price is $31.47 and its 200 day moving average price is $36.26. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 36.53, a P/E/G ratio of 3.12 and a beta of 1.88. DigitalOcean Holdings, Inc. has a 12-month low of $25.45 and a 12-month high of $47.02.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.11. The business had revenue of $210.70 million for the quarter, compared to analysts’ expectations of $208.63 million. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. DigitalOcean’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Equities research analysts expect that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Insider Transactions at DigitalOcean

In related news, insider Bratin Saha sold 3,461 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $26.86, for a total transaction of $92,962.46. Following the completion of the transaction, the insider now owns 394,367 shares in the company, valued at $10,592,697.62. This trade represents a 0.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DOCN has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of DigitalOcean from $44.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Citigroup cut their target price on shares of DigitalOcean from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Canaccord Genuity Group lowered their price target on DigitalOcean from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Needham & Company LLC reiterated a “hold” rating on shares of DigitalOcean in a research note on Tuesday, May 6th. Finally, Barclays decreased their target price on DigitalOcean from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.83.

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).