DigitalOcean Holdings, Inc. (NYSE:DOCN) Shares Acquired by Cwm LLC

Cwm LLC boosted its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,802 shares of the company’s stock after purchasing an additional 799 shares during the period. Cwm LLC’s holdings in DigitalOcean were worth $594,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DOCN. GAMMA Investing LLC raised its holdings in DigitalOcean by 336.1% in the first quarter. GAMMA Investing LLC now owns 1,064 shares of the company’s stock valued at $36,000 after acquiring an additional 820 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in DigitalOcean by 135,100.0% in the first quarter. Farther Finance Advisors LLC now owns 1,352 shares of the company’s stock valued at $46,000 after acquiring an additional 1,351 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in DigitalOcean in the fourth quarter valued at $115,000. Canada Pension Plan Investment Board acquired a new stake in DigitalOcean in the fourth quarter valued at $133,000. Finally, Cibc World Markets Corp acquired a new stake in DigitalOcean in the fourth quarter valued at $209,000. 49.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,461 shares of DigitalOcean stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $27.77, for a total value of $96,111.97. Following the completion of the sale, the insider directly owned 294,546 shares in the company, valued at $8,179,542.42. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DOCN shares. Citigroup reduced their price target on shares of DigitalOcean from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on shares of DigitalOcean from $46.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Barclays lowered their price target on shares of DigitalOcean from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a research report on Tuesday, May 6th. Finally, Morgan Stanley lowered their price target on shares of DigitalOcean from $52.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, DigitalOcean has an average rating of “Hold” and an average price target of $40.36.

DigitalOcean Price Performance

DigitalOcean stock opened at $28.82 on Thursday. The firm’s 50 day simple moving average is $28.71 and its 200-day simple moving average is $33.32. The company has a market cap of $2.62 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 2.11 and a beta of 1.76. DigitalOcean Holdings, Inc. has a fifty-two week low of $25.45 and a fifty-two week high of $47.02.

DigitalOcean (NYSE:DOCN) last released its earnings results on Tuesday, May 6th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.11. The business had revenue of $210.70 million for the quarter, compared to the consensus estimate of $208.63 million. DigitalOcean had a net margin of 13.46% and a negative return on equity of 60.69%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. On average, analysts expect that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

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).