DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Shares Acquired by Raymond James & Associates

Raymond James & Associates grew its position in DigitalOcean Holdings, Inc. (NASDAQ:DOCNGet Rating) by 9.3% in the third quarter, HoldingsChannel reports. The fund owned 79,846 shares of the company’s stock after acquiring an additional 6,810 shares during the quarter. Raymond James & Associates’ holdings in DigitalOcean were worth $2,888,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Granite Investment Partners LLC raised its position in shares of DigitalOcean by 5.6% in the third quarter. Granite Investment Partners LLC now owns 606,484 shares of the company’s stock worth $21,937,000 after acquiring an additional 31,940 shares during the period. Nordea Investment Management AB acquired a new position in shares of DigitalOcean in the third quarter worth about $5,735,000. Cambridge Investment Research Advisors Inc. raised its position in shares of DigitalOcean by 21.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 10,512 shares of the company’s stock worth $380,000 after acquiring an additional 1,892 shares during the period. National Bank of Canada FI raised its position in shares of DigitalOcean by 18.9% in the third quarter. National Bank of Canada FI now owns 2,417 shares of the company’s stock worth $87,000 after acquiring an additional 385 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of DigitalOcean by 7.5% in the second quarter. Verition Fund Management LLC now owns 12,515 shares of the company’s stock worth $518,000 after acquiring an additional 870 shares during the period. Institutional investors and hedge funds own 52.00% of the company’s stock.

DigitalOcean Stock Up 4.4 %

DOCN stock opened at $27.62 on Friday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -115.08 and a beta of 1.13. The company has a current ratio of 9.19, a quick ratio of 9.19 and a debt-to-equity ratio of 48.59. DigitalOcean Holdings, Inc. has a 12 month low of $23.38 and a 12 month high of $66.28. The firm has a 50-day moving average of $27.45 and a two-hundred day moving average of $35.48.

DigitalOcean (NASDAQ:DOCNGet Rating) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.16 earnings per share for the quarter. DigitalOcean had a negative net margin of 4.94% and a negative return on equity of 6.50%. The business had revenue of $152.12 million during the quarter, compared to analysts’ expectations of $148.13 million. As a group, analysts forecast that DigitalOcean Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DOCN shares. The Goldman Sachs Group reduced their price target on shares of DigitalOcean from $34.00 to $29.00 and set a “sell” rating for the company in a research report on Tuesday, November 8th. Credit Suisse Group started coverage on shares of DigitalOcean in a research report on Monday, November 21st. They set a “neutral” rating and a $31.00 price target for the company. Oppenheimer reduced their price target on shares of DigitalOcean from $65.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, November 8th. Morgan Stanley reduced their price target on shares of DigitalOcean from $41.00 to $28.00 and set an “underweight” rating for the company in a research report on Tuesday, November 8th. Finally, JPMorgan Chase & Co. downgraded shares of DigitalOcean from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $50.00 to $27.00 in a research report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.46.

Insider Activity

In other news, insider Harold Matthew Norman sold 17,500 shares of the stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $29.28, for a total value of $512,400.00. Following the completion of the sale, the insider now owns 155,054 shares of the company’s stock, valued at approximately $4,539,981.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Harold Matthew Norman sold 17,500 shares of the stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $29.28, for a total value of $512,400.00. Following the completion of the sale, the insider now owns 155,054 shares of the company’s stock, valued at approximately $4,539,981.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Carly D. Brantz sold 1,773 shares of the stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $31.60, for a total transaction of $56,026.80. Following the completion of the sale, the chief marketing officer now directly owns 85,916 shares of the company’s stock, valued at approximately $2,714,945.60. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

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.

Featured Articles

Want to see what other hedge funds are holding DOCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DigitalOcean Holdings, Inc. (NASDAQ:DOCNGet Rating).

Institutional Ownership by Quarter for DigitalOcean (NASDAQ:DOCN)

Receive News & Ratings for DigitalOcean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DigitalOcean and related companies with MarketBeat.com's FREE daily email newsletter.