22,939 Shares in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Purchased 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) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 22,939 shares of the company’s stock, valued at approximately $1,327,000.

Several other hedge funds and other institutional investors have also modified their holdings of DOCN. HighTower Advisors LLC boosted its holdings in DigitalOcean by 24.4% in the 4th quarter. HighTower Advisors LLC now owns 10,524 shares of the company’s stock valued at $843,000 after purchasing an additional 2,064 shares during the period. Teacher Retirement System of Texas bought a new stake in DigitalOcean in the 4th quarter valued at about $430,000. Rhumbline Advisers boosted its holdings in DigitalOcean by 2.6% in the 4th quarter. Rhumbline Advisers now owns 52,141 shares of the company’s stock valued at $4,188,000 after purchasing an additional 1,336 shares during the period. Allianz Asset Management GmbH bought a new stake in DigitalOcean in the 4th quarter valued at about $10,917,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in DigitalOcean by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 202,632 shares of the company’s stock valued at $16,278,000 after purchasing an additional 7,533 shares during the period. Institutional investors own 52.00% of the company’s stock.

DigitalOcean Price Performance

DOCN stock opened at $38.79 on Friday. The company has a 50 day simple moving average of $42.72 and a 200 day simple moving average of $45.26. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of -107.75 and a beta of 1.40. DigitalOcean Holdings, Inc. has a 1 year low of $30.05 and a 1 year high of $133.40. The company has a debt-to-equity ratio of 30.38, a current ratio of 16.59 and a quick ratio of 16.59.

DigitalOcean (NASDAQ:DOCNGet Rating) last released 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. The business had revenue of $133.88 million during the quarter, compared to analysts’ expectations of $134.48 million. DigitalOcean had a negative net margin of 7.78% and a negative return on equity of 7.59%. The firm’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.02) EPS. Research analysts anticipate that DigitalOcean Holdings, Inc. will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other DigitalOcean news, Director Amy Butte sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the transaction, the director now directly owns 34,760 shares in the company, valued at approximately $1,738,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other DigitalOcean news, Director Amy Butte sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the transaction, the director now directly owns 34,760 shares in the company, valued at approximately $1,738,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Carly D. Brantz sold 1,774 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,638,235.09. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Oppenheimer cut their price objective 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 cut their price objective for the company from $54.00 to $40.00 in a report on Wednesday, July 13th. KeyCorp boosted their target price on shares of DigitalOcean from $48.00 to $57.00 in a research report on Tuesday, August 9th. Piper Sandler boosted their target price on shares of DigitalOcean from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Finally, Morgan Stanley cut shares of DigitalOcean from an “equal weight” rating to an “underweight” rating and set a $45.00 target price for the company. in a research report on Monday, July 11th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.70.

About DigitalOcean

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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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