22,939 Shares in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky bought a new position in shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCNGet Rating) during the 1st quarter, HoldingsChannel.com reports. The fund bought 22,939 shares of the company’s stock, valued at approximately $1,327,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in DigitalOcean during the fourth quarter worth $30,000. Signaturefd LLC raised its holdings in DigitalOcean by 706.7% during the first quarter. Signaturefd LLC now owns 484 shares of the company’s stock worth $28,000 after buying an additional 424 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in DigitalOcean during the first quarter worth $42,000. Mascoma Wealth Management LLC acquired a new position in DigitalOcean during the first quarter worth $43,000. Finally, Rockefeller Capital Management L.P. raised its holdings in DigitalOcean by 100.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 800 shares of the company’s stock worth $64,000 after buying an additional 400 shares during the last quarter. 52.00% of the stock is owned by institutional investors.

DigitalOcean Stock Performance

NASDAQ DOCN opened at $38.79 on Friday. DigitalOcean Holdings, Inc. has a 52-week low of $30.05 and a 52-week high of $133.40. The company has a 50-day simple moving average of $42.72 and a 200 day simple moving average of $45.26. The company has a debt-to-equity ratio of 30.38, a quick ratio of 16.59 and a current ratio of 16.59. The company has a market capitalization of $3.76 billion, a PE ratio of -107.75 and a beta of 1.40.

DigitalOcean (NASDAQ:DOCNGet Rating) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. DigitalOcean had a negative net margin of 7.78% and a negative return on equity of 7.59%. The business had revenue of $133.88 million during the quarter, compared to the consensus estimate of $134.48 million. During the same quarter last year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was up 29.0% compared to the same quarter last year. On average, research analysts predict that DigitalOcean Holdings, Inc. will post -0.13 EPS for the current year.

Insiders Place Their Bets

In other DigitalOcean news, CMO Carly D. Brantz sold 1,774 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $45.97, for a total transaction of $81,550.78. Following the completion of the transaction, the chief marketing officer now owns 100,897 shares in the company, valued at $4,638,235.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other DigitalOcean news, CMO Carly D. Brantz sold 1,774 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $45.97, for a total transaction of $81,550.78. Following the completion of the transaction, the chief marketing officer now owns 100,897 shares in the company, valued at $4,638,235.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Butte sold 5,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the transaction, the director now owns 34,760 shares of the company’s stock, valued at approximately $1,738,000. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DOCN shares. KeyCorp upped their price objective on shares of DigitalOcean from $48.00 to $57.00 in a report on Tuesday, August 9th. Oppenheimer lowered their target price on shares of DigitalOcean from $80.00 to $65.00 in a report on Tuesday, August 9th. The Goldman Sachs Group downgraded shares of DigitalOcean from a “buy” rating to a “sell” rating and lowered their target price for the company from $54.00 to $40.00 in a report on Wednesday, July 13th. Piper Sandler increased their target price on shares of DigitalOcean from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. Finally, Morgan Stanley downgraded shares of DigitalOcean from an “equal weight” rating to an “underweight” rating and set a $45.00 target price for the company. in a report on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.70.

DigitalOcean Profile

(Get Rating)

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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Institutional Ownership by Quarter for DigitalOcean (NASDAQ:DOCN)

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