DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) by 36.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 901,325 shares of the company’s stock after purchasing an additional 241,706 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 1.05% of DigitalOcean worth $33,070,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DOCN. Vanguard Group Inc. lifted its stake in DigitalOcean by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,391,293 shares of the company’s stock valued at $153,583,000 after buying an additional 202,179 shares in the last quarter. BlackRock Inc. increased its position in DigitalOcean by 6.2% during the 1st quarter. BlackRock Inc. now owns 4,113,371 shares of the company’s stock worth $237,960,000 after purchasing an additional 241,316 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in DigitalOcean by 38.3% in the 2nd quarter. Alliancebernstein L.P. now owns 3,422,743 shares of the company’s stock valued at $137,389,000 after purchasing an additional 948,674 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of DigitalOcean by 29.4% during the 1st quarter. First Trust Advisors LP now owns 3,241,162 shares of the company’s stock worth $187,501,000 after purchasing an additional 735,924 shares during the last quarter. Finally, Van Berkom & Associates Inc. boosted its stake in shares of DigitalOcean by 25.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,431,401 shares of the company’s stock worth $34,397,000 after purchasing an additional 288,500 shares during the last quarter. 49.77% of the stock is currently owned by institutional investors and hedge funds.

DigitalOcean Stock Up 1.5 %

DigitalOcean stock opened at $37.32 on Monday. The firm has a fifty day moving average of $38.00 and a 200-day moving average of $32.23. DigitalOcean Holdings, Inc. has a 52-week low of $19.39 and a 52-week high of $51.69. The firm has a market capitalization of $3.39 billion, a P/E ratio of 3,732.00, a PEG ratio of 3.20 and a beta of 1.80.

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

Analysts Set New Price Targets

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

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).