DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Shares Bought by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its position in shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCNGet Rating) by 21.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,512 shares of the company’s stock after buying an additional 1,892 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in DigitalOcean were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI grew its position in DigitalOcean by 18.9% during the third quarter. National Bank of Canada FI now owns 2,417 shares of the company’s stock valued at $87,000 after buying an additional 385 shares during the period. Verition Fund Management LLC lifted its holdings in DigitalOcean by 7.5% during the second quarter. Verition Fund Management LLC now owns 12,515 shares of the company’s stock valued at $518,000 after purchasing an additional 870 shares in the last quarter. Legal & General Group Plc lifted its holdings in DigitalOcean by 59.8% during the second quarter. Legal & General Group Plc now owns 61,786 shares of the company’s stock valued at $2,555,000 after purchasing an additional 23,115 shares in the last quarter. Walleye Capital LLC purchased a new position in DigitalOcean during the second quarter valued at $461,000. Finally, Macquarie Group Ltd. lifted its holdings in DigitalOcean by 48.1% during the second quarter. Macquarie Group Ltd. now owns 1,747 shares of the company’s stock valued at $72,000 after purchasing an additional 567 shares in the last quarter. Institutional investors and hedge funds own 52.00% of the company’s stock.

Insider Activity at DigitalOcean

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

DigitalOcean Price Performance

Shares of DOCN opened at $27.13 on Friday. DigitalOcean Holdings, Inc. has a 1-year low of $23.38 and a 1-year high of $72.81. The stock has a market cap of $2.61 billion, a PE ratio of -113.04 and a beta of 1.13. The firm has a 50-day simple moving average of $27.80 and a two-hundred day simple moving average of $36.19. The company has a debt-to-equity ratio of 48.59, a current ratio of 9.19 and a quick ratio of 9.19.

DigitalOcean (NASDAQ:DOCNGet Rating) last announced 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 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. KeyCorp decreased their price objective on shares of DigitalOcean from $57.00 to $47.00 and set an “overweight” rating on the stock in a report on Monday, October 24th. Oppenheimer decreased their price target on shares of DigitalOcean from $65.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 8th. Bank of America decreased their price target on shares of DigitalOcean from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 8th. JPMorgan Chase & Co. downgraded shares of DigitalOcean from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $50.00 to $27.00 in a research note on Tuesday, November 8th. Finally, Needham & Company LLC assumed coverage on shares of DigitalOcean in a research note on Thursday, December 8th. They issued a “buy” rating and a $36.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.54.

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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