Ameritas Advisory Services LLC Acquires Shares of 8,000 DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Ameritas Advisory Services LLC bought a new position in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,000 shares of the company’s stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new stake in DigitalOcean in the 1st quarter worth $34,000. FinTrust Capital Advisors LLC purchased a new stake in shares of DigitalOcean in the first quarter worth about $36,000. Covestor Ltd boosted its stake in DigitalOcean by 571.4% during the first quarter. Covestor Ltd now owns 1,947 shares of the company’s stock valued at $74,000 after buying an additional 1,657 shares during the last quarter. Scarborough Advisors LLC purchased a new position in DigitalOcean during the 4th quarter valued at approximately $98,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in DigitalOcean in the 4th quarter worth approximately $102,000. Institutional investors own 49.77% of the company’s stock.

DigitalOcean Stock Performance

DOCN opened at $37.44 on Friday. The stock’s 50 day moving average price is $33.79 and its 200-day moving average price is $35.80. DigitalOcean Holdings, Inc. has a one year low of $19.39 and a one year high of $41.58. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 70.64, a P/E/G ratio of 3.01 and a beta of 1.81.

DigitalOcean (NASDAQ:DOCN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.09. DigitalOcean had a negative return on equity of 26.29% and a net margin of 7.01%. The company had revenue of $192.00 million during the quarter, compared to analysts’ expectations of $188.63 million. During the same quarter in the previous year, the business earned $0.11 EPS. DigitalOcean’s revenue was up 13.1% compared to the same quarter last year. As a group, analysts predict that DigitalOcean Holdings, Inc. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on DOCN. Canaccord Genuity Group increased their target price on DigitalOcean from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, May 13th. UBS Group dropped their price objective on shares of DigitalOcean from $40.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Stifel Nicolaus upped their target price on shares of DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of DigitalOcean in a research report on Monday, May 13th. Finally, Barclays decreased their price objective on DigitalOcean from $43.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.40.

Insider Transactions at DigitalOcean

In related news, Director Amy Butte sold 5,220 shares of DigitalOcean stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $37.46, for a total transaction of $195,541.20. Following the completion of the sale, the director now owns 36,417 shares in the company, valued at approximately $1,364,180.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.74% of the company’s stock.

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).