DigitalOcean Holdings, Inc. (NYSE:DOCN) Shares Bought by Blue Trust Inc.

Blue Trust Inc. grew its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 380.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,211 shares of the company’s stock after acquiring an additional 959 shares during the quarter. Blue Trust Inc.’s holdings in DigitalOcean were worth $49,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DOCN. FinTrust Capital Advisors LLC acquired a new position in DigitalOcean during the first quarter worth about $36,000. Covestor Ltd lifted 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 in the last quarter. Quest Partners LLC raised its holdings in shares of DigitalOcean by 11,041.9% during the second quarter. Quest Partners LLC now owns 3,454 shares of the company’s stock valued at $120,000 after acquiring an additional 3,423 shares during the period. Tidal Investments LLC purchased a new position in DigitalOcean during the 1st quarter worth approximately $220,000. Finally, 180 Wealth Advisors LLC boosted its position in shares of DigitalOcean by 4.4% in the second quarter. 180 Wealth Advisors LLC now owns 7,120 shares of the company’s stock worth $237,000 after buying an additional 297 shares during the period. 49.77% of the stock is owned by institutional investors and hedge funds.

DigitalOcean Trading Down 3.3 %

NYSE:DOCN opened at $39.59 on Friday. The stock has a market capitalization of $3.64 billion, a P/E ratio of 54.98, a price-to-earnings-growth ratio of 3.38 and a beta of 1.83. DigitalOcean Holdings, Inc. has a 1 year low of $19.39 and a 1 year high of $44.80. The firm has a 50 day moving average of $40.39 and a 200-day moving average of $36.55.

DigitalOcean (NYSE:DOCN) last announced its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.09. The company had revenue of $192.00 million during the quarter, compared to analyst estimates of $188.63 million. DigitalOcean had a negative return on equity of 31.71% and a net margin of 9.30%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. As a group, analysts forecast that DigitalOcean Holdings, Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of DigitalOcean from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Canaccord Genuity Group boosted their target price on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Piper Sandler decreased their price objective on shares of DigitalOcean from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, July 15th. UBS Group reduced their price target on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Stifel Nicolaus upped their target price on DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.56.

About DigitalOcean

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).