28,440 Shares in DigitalOcean Holdings, Inc. (NYSE:DOCN) Acquired by FORA Capital LLC

FORA Capital LLC bought a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,440 shares of the company's stock, valued at approximately $1,149,000.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in DigitalOcean by 14.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 565,763 shares of the company's stock valued at $22,851,000 after buying an additional 70,700 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of DigitalOcean in the 3rd quarter valued at approximately $696,000. Advisors Asset Management Inc. boosted its stake in DigitalOcean by 150.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 974 shares of the company's stock worth $39,000 after purchasing an additional 585 shares in the last quarter. Thrivent Financial for Lutherans grew its position in DigitalOcean by 11.4% during the 3rd 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 last quarter. Finally, Chesapeake Capital Corp IL acquired a new position in DigitalOcean during the 3rd quarter valued at approximately $429,000. 49.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DigitalOcean news, insider Bratin Saha sold 16,989 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $626,044.65. Following the transaction, the insider now directly owns 390,296 shares of the company's stock, valued at $14,382,407.60. This trade represents a 4.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.74% of the stock is currently owned by company insiders.

DigitalOcean Trading Down 2.1 %

DigitalOcean stock traded down $0.83 during mid-day trading on Thursday, hitting $37.88. The company had a trading volume of 529,297 shares, compared to its average volume of 1,240,920. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 44.56, a P/E/G ratio of 2.54 and a beta of 1.83. The company's fifty day moving average is $40.48 and its 200-day moving average is $37.16. DigitalOcean Holdings, Inc. has a 12-month low of $26.63 and a 12-month high of $44.80.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.12. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The company had revenue of $198.50 million during the quarter, compared to analysts' expectations of $196.64 million. During the same quarter in the previous year, the company earned $0.17 earnings per share. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. As a group, sell-side analysts expect that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a report on Tuesday, November 5th. Canaccord Genuity Group boosted their price target on DigitalOcean from $42.00 to $48.00 and gave the company a "buy" rating in a research note on Friday, October 4th. JPMorgan Chase & Co. raised their price objective on DigitalOcean from $32.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. UBS Group dropped their target price 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 shares of DigitalOcean from $38.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $41.50.

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).