16,565 Shares in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Purchased by Versor Investments LP

Posted by on Apr 15th, 2023

Versor Investments LP acquired a new position in DigitalOcean Holdings, Inc. (NASDAQ:DOCN – Get Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 16,565 shares of the company’s stock, valued at approximately $422,000.

Several other large investors also recently bought and sold shares of DOCN. Alliancebernstein L.P. increased its holdings in DigitalOcean by 43.8% in the 3rd quarter. Alliancebernstein L.P. now owns 3,172,288 shares of the company’s stock worth $114,742,000 after buying an additional 966,755 shares in the last quarter. First Trust Advisors LP grew its stake in shares of DigitalOcean by 29.4% during the 1st quarter. First Trust Advisors LP now owns 3,241,162 shares of the company’s stock valued at $187,501,000 after purchasing an additional 735,924 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of DigitalOcean by 116.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,274,874 shares of the company’s stock valued at $32,471,000 after purchasing an additional 686,011 shares during the period. Wellington Management Group LLP grew its stake in shares of DigitalOcean by 236.4% during the 1st quarter. Wellington Management Group LLP now owns 525,665 shares of the company’s stock valued at $30,410,000 after purchasing an additional 369,381 shares during the period. Finally, State Street Corp grew its stake in shares of DigitalOcean by 40.3% during the 2nd quarter. State Street Corp now owns 1,227,221 shares of the company’s stock valued at $50,758,000 after purchasing an additional 352,508 shares during the period. 52.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on DOCN. Barclays boosted their price target on DigitalOcean from $32.00 to $42.00 in a research note on Friday, February 17th. Piper Sandler downgraded DigitalOcean from an “overweight” rating to a “neutral” rating and set a $30.00 price target for the company. in a research note on Tuesday, January 17th. Credit Suisse Group boosted their price target on DigitalOcean from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, February 17th. Needham & Company LLC lifted their price objective on DigitalOcean from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 31st. Finally, The Goldman Sachs Group lifted their price objective on DigitalOcean from $29.00 to $33.00 and gave the company a “sell” rating in a research report on Friday, February 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.54.

DigitalOcean Stock Down 5.3 %

NASDAQ DOCN opened at $33.30 on Friday. The stock’s 50 day moving average is $34.21 and its 200 day moving average is $31.80. The company has a current ratio of 5.76, a quick ratio of 5.76 and a debt-to-equity ratio of 28.78. DigitalOcean Holdings, Inc. has a 12 month low of $23.38 and a 12 month high of $53.88. The stock has a market cap of $3.23 billion, a PE ratio of -144.78, a P/E/G ratio of 1.77 and a beta of 1.24.

DigitalOcean (NASDAQ:DOCN – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. DigitalOcean had a negative return on equity of 2.36% and a negative net margin of 4.21%. The company had revenue of $163.00 million for the quarter, compared to analysts’ expectations of $161.10 million. During the same period in the previous year, the firm earned ($0.11) EPS. The firm’s revenue was up 36.2% compared to the same quarter last year. Research analysts predict that DigitalOcean Holdings, Inc. will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other DigitalOcean news, COO Jeffrey Scott Guy sold 6,000 shares of DigitalOcean stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $36.62, for a total value of $219,720.00. Following the sale, the chief operating officer now owns 159,958 shares of the company’s stock, valued at approximately $5,857,661.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other DigitalOcean news, Director Amy Butte sold 5,000 shares of DigitalOcean stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the sale, the director now owns 34,760 shares of the company’s stock, valued at approximately $1,216,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey Scott Guy sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $36.62, for a total value of $219,720.00. Following the transaction, the chief operating officer now directly owns 159,958 shares in the company, valued at approximately $5,857,661.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 183,657 shares of company stock valued at $6,360,812. Corporate insiders own 4.10% of the company’s stock.

DigitalOcean Company Profile

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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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