DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Shares Purchased by LPL Financial LLC

Posted by Defense World Staff on May 22nd, 2023

LPL Financial LLC grew its position in shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN – Get Rating) by 97.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,404 shares of the company’s stock after buying an additional 44,544 shares during the quarter. LPL Financial LLC owned 0.09% of DigitalOcean worth $2,303,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. ProShare Advisors LLC increased its holdings in shares of DigitalOcean by 11.9% in the 4th quarter. ProShare Advisors LLC now owns 9,920 shares of the company’s stock valued at $253,000 after purchasing an additional 1,058 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of DigitalOcean by 26.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,361 shares of the company’s stock worth $187,000 after acquiring an additional 1,519 shares during the last quarter. Versor Investments LP acquired a new position in DigitalOcean during the fourth quarter valued at approximately $422,000. Allspring Global Investments Holdings LLC grew its stake in DigitalOcean by 116.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,274,874 shares of the company’s stock worth $32,471,000 after buying an additional 686,011 shares during the period. Finally, HB Wealth Management LLC grew its stake in DigitalOcean by 4.6% during the fourth quarter. HB Wealth Management LLC now owns 21,035 shares of the company’s stock worth $536,000 after buying an additional 928 shares during the period. Hedge funds and other institutional investors own 52.00% of the company’s stock.

DigitalOcean Price Performance

Shares of DOCN opened at $34.04 on Monday. The firm has a market cap of $3.02 billion, a PE ratio of -79.16, a PEG ratio of 1.72 and a beta of 1.21. The firm’s 50 day moving average price is $34.37 and its 200 day moving average price is $31.09. The company has a debt-to-equity ratio of 28.78, a quick ratio of 3.75 and a current ratio of 3.75. DigitalOcean Holdings, Inc. has a twelve month low of $23.38 and a twelve month high of $53.88.

DigitalOcean (NASDAQ:DOCN – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $165.13 million for the quarter, compared to the consensus estimate of $164.13 million. DigitalOcean had a negative net margin of 6.69% and a negative return on equity of 65.61%. DigitalOcean’s revenue was up 29.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.16) EPS. As a group, research analysts expect that DigitalOcean Holdings, Inc. will post 0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC downgraded shares of DigitalOcean from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Oppenheimer lowered shares of DigitalOcean from an “outperform” rating to a “market perform” rating and set a $40.00 price target for the company. in a research report on Friday, March 17th. William Blair reiterated an “outperform” rating on shares of DigitalOcean in a research report on Tuesday, May 9th. The Goldman Sachs Group raised their price objective on shares of DigitalOcean from $29.00 to $33.00 and gave the company a “sell” rating in a research report on Friday, February 17th. Finally, Barclays raised their price objective on shares of DigitalOcean from $32.00 to $42.00 in a research report on Friday, February 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.67.

Insider Buying and Selling

In related news, insider Harold Matthew Norman sold 21,499 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $34.03, for a total value of $731,610.97. Following the completion of the transaction, the insider now directly owns 145,696 shares of the company’s stock, valued at $4,958,034.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other DigitalOcean news, insider Harold Matthew Norman sold 21,499 shares of DigitalOcean stock in a transaction on Friday, May 19th. The stock was sold at an average price of $34.03, for a total transaction of $731,610.97. Following the completion of the transaction, the insider now directly owns 145,696 shares of the company’s stock, valued at $4,958,034.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Carly D. Brantz sold 106,419 shares of DigitalOcean stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $34.42, for a total value of $3,662,941.98. Following the transaction, the chief marketing officer now directly owns 76,358 shares of the company’s stock, valued at $2,628,242.36. The disclosure for this sale can be found here. Insiders sold a total of 191,139 shares of company stock valued at $6,600,935 over the last ninety days. 4.10% of the stock is owned by company insiders.

DigitalOcean 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.