Thrivent Financial for Lutherans Boosts Stock Holdings in DigitalOcean Holdings, Inc. $DOCN

Thrivent Financial for Lutherans boosted its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 554.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 302,504 shares of the company’s stock after buying an additional 256,316 shares during the period. Thrivent Financial for Lutherans owned 0.33% of DigitalOcean worth $10,334,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of DigitalOcean during the third quarter valued at about $37,000. Advisors Asset Management Inc. grew its holdings in DigitalOcean by 18.0% in the second quarter. Advisors Asset Management Inc. now owns 2,630 shares of the company’s stock worth $75,000 after purchasing an additional 401 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of DigitalOcean by 188.1% during the second quarter. SBI Securities Co. Ltd. now owns 5,001 shares of the company’s stock worth $143,000 after purchasing an additional 3,265 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of DigitalOcean by 205.1% during the 3rd quarter. Pacer Advisors Inc. now owns 5,044 shares of the company’s stock valued at $172,000 after purchasing an additional 3,391 shares during the last quarter. Finally, State of Wyoming boosted its holdings in DigitalOcean by 49.6% in the second quarter. State of Wyoming now owns 6,750 shares of the company’s stock worth $193,000 after acquiring an additional 2,239 shares in the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on DOCN shares. Wall Street Zen cut shares of DigitalOcean from a “buy” rating to a “hold” rating in a research note on Sunday, January 4th. Oppenheimer initiated coverage on shares of DigitalOcean in a report on Monday, November 10th. They issued an “outperform” rating and a $60.00 price target for the company. Canaccord Genuity Group upped their target price on DigitalOcean from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. UBS Group lifted their price target on DigitalOcean from $40.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Piper Sandler increased their price objective on DigitalOcean from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, January 5th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.25.

DigitalOcean Stock Down 2.0%

Shares of NYSE:DOCN opened at $57.17 on Thursday. DigitalOcean Holdings, Inc. has a 52-week low of $25.45 and a 52-week high of $64.09. The stock has a market cap of $5.23 billion, a P/E ratio of 23.05, a PEG ratio of 8.37 and a beta of 1.77. The business has a fifty day moving average of $50.86 and a two-hundred day moving average of $41.65.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.23. DigitalOcean had a negative return on equity of 92.51% and a net margin of 29.15%.The business had revenue of $229.63 million during the quarter, compared to analysts’ expectations of $226.55 million. During the same period in the prior year, the business posted $0.52 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. On average, equities analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

DigitalOcean Company Profile

DigitalOcean Holdings, Inc is a cloud infrastructure provider that focuses on simplicity, performance and developer experience. The company offers a range of cloud services designed to help software developers, startups and small- to medium-sized businesses deploy, manage and scale applications. Its flagship offering, Droplets, provides virtual private servers that can be configured with various CPU, memory and storage options. In addition to compute instances, DigitalOcean’s platform includes managed Kubernetes, scalable object and block storage, managed databases, load balancers and networking capabilities such as Virtual Private Cloud (VPC) and Floating IPs.

Founded in 2011 and headquartered in New York City, DigitalOcean was created with the goal of making cloud computing more accessible to individual developers and smaller teams.