Tennessee Valley Asset Management Partners Takes Position in DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Tennessee Valley Asset Management Partners bought a new stake in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 945 shares of the company’s stock, valued at approximately $35,000.

A number of other large investors have also modified their holdings of the stock. Wealth Effects LLC grew its stake in shares of DigitalOcean by 30.4% in the fourth quarter. Wealth Effects LLC now owns 46,365 shares of the company’s stock valued at $1,701,000 after buying an additional 10,820 shares in the last quarter. Cherry Creek Investment Advisors Inc. acquired a new stake in DigitalOcean during the 4th quarter valued at approximately $342,000. Geneos Wealth Management Inc. grew its stake in DigitalOcean by 107.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,123 shares of the company’s stock valued at $78,000 after purchasing an additional 1,100 shares in the last quarter. Moody Aldrich Partners LLC acquired a new stake in DigitalOcean during the 4th quarter valued at approximately $2,388,000. Finally, International Assets Investment Management LLC acquired a new stake in DigitalOcean during the 4th quarter valued at approximately $673,000. Institutional investors and hedge funds own 49.77% of the company’s stock.

Analyst Ratings Changes

DOCN has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. JMP Securities restated a “market outperform” rating and set a $47.00 price objective on shares of DigitalOcean in a research note on Thursday, March 21st. Oppenheimer raised their price objective on DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Finally, Barclays raised their price objective on DigitalOcean from $37.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.78.

DigitalOcean Trading Up 0.8 %

Shares of DOCN opened at $32.71 on Wednesday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 3,274.27, a PEG ratio of 2.78 and a beta of 1.80. The stock has a 50 day moving average of $37.62 and a 200-day moving average of $33.16. DigitalOcean Holdings, Inc. has a 52 week low of $19.39 and a 52 week high of $51.69.

DigitalOcean (NASDAQ:DOCN) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.23. The business had revenue of $180.87 million for the quarter, compared to the consensus estimate of $178.26 million. DigitalOcean had a negative return on equity of 19.85% and a net margin of 0.12%. On average, sell-side analysts predict that DigitalOcean Holdings, Inc. will post 0.77 earnings per share for the current fiscal year.

DigitalOcean Company Profile

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).