Vontobel Holding Ltd. Buys Shares of 6,792 DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Vontobel Holding Ltd. bought a new stake in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,792 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOCN. Tennessee Valley Asset Management Partners purchased a new position in DigitalOcean in the fourth quarter valued at about $35,000. Geneos Wealth Management Inc. boosted its stake in shares of DigitalOcean by 107.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,123 shares of the company’s stock worth $78,000 after acquiring an additional 1,100 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of DigitalOcean by 41.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,399 shares of the company’s stock worth $88,000 after acquiring an additional 698 shares in the last quarter. AtonRa Partners bought a new stake in shares of DigitalOcean during the 3rd quarter worth about $146,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of DigitalOcean during the 3rd quarter worth about $211,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

DigitalOcean Trading Up 0.8 %

Shares of DOCN stock opened at $32.71 on Wednesday. The stock has a 50 day moving average of $37.62 and a two-hundred day moving average of $33.16. DigitalOcean Holdings, Inc. has a 12 month low of $19.39 and a 12 month high of $51.69. The company has a market capitalization of $2.97 billion, a P/E ratio of 3,274.27, a P/E/G ratio of 2.78 and a beta of 1.80.

DigitalOcean (NASDAQ:DOCN) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.23. DigitalOcean had a negative return on equity of 19.85% and a net margin of 0.12%. The company had revenue of $180.87 million during the quarter, compared to the consensus estimate of $178.26 million. Sell-side analysts predict that DigitalOcean Holdings, Inc. will post 0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on DOCN shares. Barclays upped their price target on DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. JMP Securities reiterated a “market outperform” rating and set a $47.00 price target on shares of DigitalOcean in a research note on Thursday, March 21st. Piper Sandler boosted their price objective on DigitalOcean from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Finally, Oppenheimer boosted their price objective on DigitalOcean from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.78.

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).