Creative Planning grew its position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 1,253.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 73,867 shares of the company's stock after buying an additional 68,409 shares during the period. Creative Planning owned approximately 0.08% of DigitalOcean worth $2,983,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC bought a new stake in DigitalOcean in the 1st quarter worth about $36,000. Covestor Ltd grew its stake in shares of DigitalOcean by 571.4% in the first quarter. Covestor Ltd now owns 1,947 shares of the company's stock worth $74,000 after acquiring an additional 1,657 shares during the period. Quest Partners LLC raised its holdings 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 valued at $120,000 after purchasing an additional 3,423 shares during the last quarter. Tidal Investments LLC bought a new position in DigitalOcean during the first quarter valued at approximately $220,000. Finally, 180 Wealth Advisors LLC boosted its holdings in DigitalOcean by 4.4% in the second quarter. 180 Wealth Advisors LLC now owns 7,120 shares of the company's stock worth $237,000 after purchasing an additional 297 shares during the last quarter. Institutional investors own 49.77% of the company's stock.
DigitalOcean Trading Down 0.4 %
DigitalOcean stock traded down $0.18 during midday trading on Friday, hitting $41.04. The stock had a trading volume of 542,429 shares, compared to its average volume of 1,252,634. DigitalOcean Holdings, Inc. has a 52-week low of $19.39 and a 52-week high of $44.80. The company has a market capitalization of $3.74 billion, a PE ratio of 77.43, a P/E/G ratio of 3.38 and a beta of 1.83. The firm's fifty day moving average is $40.12 and its two-hundred day moving average is $36.43.
DigitalOcean (NYSE:DOCN - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.09. The firm had revenue of $192.00 million during the quarter, compared to analysts' expectations of $188.63 million. DigitalOcean had a net margin of 9.30% and a negative return on equity of 31.71%. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 earnings per share. As a group, equities research analysts predict that DigitalOcean Holdings, Inc. will post 0.86 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
DOCN has been the subject of a number of research reports. UBS Group decreased their target price on shares of DigitalOcean from $40.00 to $34.00 and set a "neutral" rating for the company in a research note on Friday, August 9th. Barclays upped their price objective on DigitalOcean from $38.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. JPMorgan Chase & Co. raised their target price on DigitalOcean from $32.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday. 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. Finally, Piper Sandler lowered their price objective on shares of DigitalOcean from $38.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, DigitalOcean has a consensus rating of "Moderate Buy" and an average target price of $40.56.
View Our Latest Research Report on DigitalOcean
DigitalOcean Profile
(
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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