Kestra Private Wealth Services LLC increased its holdings in shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN – Get Rating) by 19.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,174 shares of the company’s stock after purchasing an additional 674 shares during the period. Kestra Private Wealth Services LLC’s holdings in DigitalOcean were worth $241,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of DOCN. Advisory Services Network LLC boosted its stake in shares of DigitalOcean by 47.1% during the 1st quarter. Advisory Services Network LLC now owns 29,280 shares of the company’s stock worth $1,694,000 after acquiring an additional 9,379 shares during the period. Neuberger Berman Group LLC lifted its holdings in DigitalOcean by 55.5% during the 1st quarter. Neuberger Berman Group LLC now owns 75,271 shares of the company’s stock valued at $4,355,000 after purchasing an additional 26,857 shares during the last quarter. Toroso Investments LLC bought a new position in DigitalOcean during the first quarter worth $234,000. Virtu Financial LLC increased its holdings in shares of DigitalOcean by 42.6% in the first quarter. Virtu Financial LLC now owns 14,368 shares of the company’s stock valued at $831,000 after purchasing an additional 4,295 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new position in shares of DigitalOcean in the first quarter valued at about $42,000. Institutional investors and hedge funds own 52.00% of the company’s stock.
DigitalOcean Trading Down 0.7 %
DOCN opened at $41.00 on Thursday. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -113.89 and a beta of 1.40. The company has a quick ratio of 16.59, a current ratio of 16.59 and a debt-to-equity ratio of 30.38. DigitalOcean Holdings, Inc. has a twelve month low of $30.05 and a twelve month high of $133.40. The company has a 50-day simple moving average of $42.64 and a 200 day simple moving average of $45.33.
DigitalOcean (NASDAQ:DOCN – Get Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The company had revenue of $133.88 million during the quarter, compared to the consensus estimate of $134.48 million. DigitalOcean had a negative net margin of 7.78% and a negative return on equity of 7.59%. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) EPS. Analysts predict that DigitalOcean Holdings, Inc. will post -0.13 EPS for the current fiscal year.
In related news, Director Amy Butte sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the sale, the director now directly owns 34,760 shares in the company, valued at approximately $1,738,000. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CMO Carly D. Brantz sold 1,774 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $45.97, for a total value of $81,550.78. Following the completion of the transaction, the chief marketing officer now owns 100,897 shares of the company’s stock, valued at approximately $4,638,235.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Amy Butte sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the sale, the director now directly owns 34,760 shares in the company, valued at approximately $1,738,000. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.
Analyst Ratings Changes
DOCN has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of DigitalOcean from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Oppenheimer reduced their price target on DigitalOcean from $80.00 to $65.00 in a research note on Tuesday, August 9th. KeyCorp increased their price objective on DigitalOcean from $48.00 to $57.00 in a research report on Tuesday, August 9th. Morgan Stanley cut shares of DigitalOcean from an “equal weight” rating to an “underweight” rating and set a $45.00 target price for the company. in a research report on Monday, July 11th. Finally, The Goldman Sachs Group lowered shares of DigitalOcean from a “buy” rating to a “sell” rating and lowered their price target for the stock from $54.00 to $40.00 in a research report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.70.
DigitalOcean Holdings, Inc, through its subsidiaries, operates a cloud computing platform in North America, Europe, Asia, and internationally. Its platform provides on-demand infrastructure and platform tools for developers, start-ups, and small and medium size businesses. The company offers infrastructure solutions across compute, storage, and networking, as well as enables developers to extend the native capabilities of its cloud with fully managed application, container, and database offerings.
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