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

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

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in DigitalOcean during the 4th quarter worth approximately $673,000. Russell Investments Group Ltd. raised its stake in DigitalOcean by 54.6% in the 4th quarter. Russell Investments Group Ltd. now owns 155,733 shares of the company’s stock valued at $5,714,000 after purchasing an additional 55,007 shares during the last quarter. Victory Capital Management Inc. purchased a new position in DigitalOcean in the 4th quarter valued at $240,000. Los Angeles Capital Management LLC boosted its stake in DigitalOcean by 156.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 49,726 shares of the company’s stock worth $1,824,000 after purchasing an additional 30,351 shares during the last quarter. Finally, River Global Investors LLP grew its holdings in shares of DigitalOcean by 171.9% during the fourth quarter. River Global Investors LLP now owns 17,343 shares of the company’s stock worth $636,000 after buying an additional 10,965 shares in the last quarter. Institutional investors and hedge funds own 49.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DOCN. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research note on Monday, May 13th. Barclays lowered their target price on DigitalOcean from $43.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Piper Sandler cut their price target on DigitalOcean from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, July 15th. UBS Group lowered their price objective on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Stifel Nicolaus upped their target price on DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $36.40.

Insider Activity at DigitalOcean

In other DigitalOcean news, Director Amy Butte sold 5,220 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $37.46, for a total transaction of $195,541.20. Following the transaction, the director now directly owns 36,417 shares in the company, valued at $1,364,180.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is owned by insiders.

DigitalOcean Trading Up 0.3 %

NASDAQ DOCN opened at $37.44 on Friday. The stock has a fifty day simple moving average of $33.79 and a 200-day simple moving average of $35.80. The stock has a market cap of $3.41 billion, a PE ratio of 70.64, a P/E/G ratio of 3.01 and a beta of 1.81. DigitalOcean Holdings, Inc. has a twelve month low of $19.39 and a twelve month high of $41.58.

DigitalOcean (NASDAQ:DOCN) last announced its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate 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 net margin of 7.01% and a negative return on equity of 26.29%. DigitalOcean’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. Research analysts predict that DigitalOcean Holdings, Inc. will post 0.78 EPS for the current year.

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).