Aigen Investment Management LP Takes Position in DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Aigen Investment Management LP bought a new position in shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,857 shares of the company’s stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DOCN. Tennessee Valley Asset Management Partners acquired a new stake in DigitalOcean in the 4th quarter worth about $35,000. Headlands Technologies LLC purchased a new stake in DigitalOcean in the fourth quarter valued at approximately $67,000. Geneos Wealth Management Inc. increased its position in DigitalOcean by 107.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,123 shares of the company’s stock worth $78,000 after purchasing an additional 1,100 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC raised its stake in DigitalOcean by 41.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,399 shares of the company’s stock worth $88,000 after purchasing an additional 698 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of DigitalOcean by 16.7% in the 4th quarter. Assetmark Inc. now owns 2,809 shares of the company’s stock valued at $103,000 after purchasing an additional 403 shares during the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DOCN. Canaccord Genuity Group boosted their target price on DigitalOcean from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, May 13th. UBS Group started coverage on shares of DigitalOcean in a research report on Wednesday. They issued a “neutral” rating and a $40.00 price objective for the company. JMP Securities restated a “market outperform” rating and set a $47.00 target price on shares of DigitalOcean in a report on Monday, May 13th. Piper Sandler increased their price target on DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, DigitalOcean has an average rating of “Hold” and a consensus target price of $38.00.

DigitalOcean Stock Up 1.3 %

DOCN stock opened at $36.83 on Friday. The company has a market capitalization of $3.35 billion, a PE ratio of 45.51, a P/E/G ratio of 3.74 and a beta of 1.83. The stock’s 50 day moving average is $36.28 and its two-hundred day moving average is $35.04. DigitalOcean Holdings, Inc. has a 52-week low of $19.39 and a 52-week high of $51.69.

DigitalOcean (NASDAQ:DOCN) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.23. DigitalOcean had a net margin of 7.01% and a negative return on equity of 26.29%. The firm had revenue of $180.87 million for the quarter, compared to analysts’ expectations of $178.26 million. As a group, sell-side analysts anticipate that DigitalOcean Holdings, Inc. will post 0.77 EPS for the current year.

DigitalOcean 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).