Public Sector Pension Investment Board Has $5.42 Million Holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Public Sector Pension Investment Board increased its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 13.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,214 shares of the company’s stock after buying an additional 16,000 shares during the period. Public Sector Pension Investment Board owned 0.15% of DigitalOcean worth $5,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FORA Capital LLC acquired a new position in DigitalOcean in the third quarter valued at approximately $1,149,000. Charles Schwab Investment Management Inc. increased its stake in shares of DigitalOcean by 14.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,763 shares of the company’s stock valued at $22,851,000 after acquiring an additional 70,700 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of DigitalOcean during the 3rd quarter valued at $696,000. Advisors Asset Management Inc. grew its holdings in DigitalOcean by 150.4% in the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock worth $39,000 after purchasing an additional 585 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in DigitalOcean by 11.4% in the third quarter. Thrivent Financial for Lutherans now owns 49,687 shares of the company’s stock worth $2,007,000 after purchasing an additional 5,072 shares during the period. Institutional investors and hedge funds own 49.77% of the company’s stock.

DigitalOcean Price Performance

DOCN opened at $38.08 on Monday. DigitalOcean Holdings, Inc. has a fifty-two week low of $26.63 and a fifty-two week high of $44.80. The firm has a market capitalization of $3.51 billion, a P/E ratio of 44.80, a PEG ratio of 2.45 and a beta of 1.83. The company’s 50-day moving average is $40.23 and its 200 day moving average is $37.16.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DOCN shares. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research report on Tuesday, November 5th. Canaccord Genuity Group raised their price objective on DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 4th. UBS Group decreased their price objective on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus upped their price objective on shares of DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.50.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 16,989 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $36.85, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.74% of the company’s stock.

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).