Versor Investments LP bought a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,600 shares of the company's stock, valued at approximately $751,000.
A number of other hedge funds also recently bought and sold shares of DOCN. Farther Finance Advisors LLC acquired a new position in shares of DigitalOcean during the third quarter worth $30,000. Blue Trust Inc. increased its position in shares of DigitalOcean by 380.6% during the third quarter. Blue Trust Inc. now owns 1,211 shares of the company's stock worth $49,000 after purchasing an additional 959 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of DigitalOcean by 56.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company's stock worth $54,000 after purchasing an additional 483 shares in the last quarter. Covestor Ltd increased its position in shares of DigitalOcean by 571.4% during the first quarter. Covestor Ltd now owns 1,947 shares of the company's stock worth $74,000 after purchasing an additional 1,657 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of DigitalOcean by 11,041.9% during the second quarter. Quest Partners LLC now owns 3,454 shares of the company's stock worth $120,000 after purchasing an additional 3,423 shares in the last quarter. Hedge funds and other institutional investors own 49.77% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on DOCN shares. Stifel Nicolaus upped their target price on DigitalOcean from $32.00 to $35.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on DigitalOcean from $32.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. UBS Group cut their price target on DigitalOcean from $40.00 to $34.00 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Finally, Barclays increased their price target on DigitalOcean from $38.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $41.50.
Get Our Latest Report on DOCN
DigitalOcean Stock Up 3.3 %
Shares of DigitalOcean stock traded up $1.26 on Wednesday, hitting $39.65. 469,734 shares of the company were exchanged, compared to its average volume of 1,255,637. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 46.78, a price-to-earnings-growth ratio of 2.47 and a beta of 1.83. The company has a 50-day moving average price of $40.58 and a 200 day moving average price of $36.90. DigitalOcean Holdings, Inc. has a 1-year low of $26.10 and a 1-year high of $44.80.
DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.40 by $0.12. The firm had revenue of $198.50 million for the quarter, compared to analyst estimates of $196.64 million. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. Research analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.
About DigitalOcean
(
Free Report)
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).
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