3,334 Shares in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Purchased by Resolute Advisors LLC

Resolute Advisors LLC purchased a new position in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,334 shares of the company’s stock, valued at approximately $122,000.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. grew its position in DigitalOcean by 16.7% during the 4th quarter. Assetmark Inc. now owns 2,809 shares of the company’s stock valued at $103,000 after purchasing an additional 403 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC grew its position in DigitalOcean by 41.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,399 shares of the company’s stock valued at $88,000 after purchasing an additional 698 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in DigitalOcean during the 4th quarter valued at about $35,000. Arizona State Retirement System grew its position in DigitalOcean by 6.4% during the 4th quarter. Arizona State Retirement System now owns 16,144 shares of the company’s stock valued at $592,000 after purchasing an additional 971 shares during the last quarter. Finally, Rhumbline Advisers grew its position in DigitalOcean by 1.1% during the 3rd quarter. Rhumbline Advisers now owns 89,640 shares of the company’s stock valued at $2,154,000 after purchasing an additional 1,017 shares during the last quarter. 49.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on DOCN. Oppenheimer increased their price objective on shares of DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Canaccord Genuity Group raised their price target on shares of DigitalOcean from $41.00 to $42.00 and gave the company a “buy” rating in a report on Monday, May 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a report on Monday, May 13th. Piper Sandler raised their price target on shares of DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, UBS Group started coverage on shares of DigitalOcean in a report on Wednesday. They set a “neutral” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.00.

DigitalOcean Price Performance

Shares of DOCN traded down $0.17 on Friday, reaching $36.19. The company’s stock had a trading volume of 499,642 shares, compared to its average volume of 2,295,204. The stock has a market capitalization of $3.30 billion, a P/E ratio of 68.28, a PEG ratio of 3.56 and a beta of 1.83. The stock’s 50 day simple moving average is $36.22 and its two-hundred day simple moving average is $35.19. DigitalOcean Holdings, Inc. has a 12-month low of $19.39 and a 12-month high of $51.69.

DigitalOcean (NASDAQ:DOCN) last released its earnings results on Wednesday, February 21st. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.23. DigitalOcean had a net margin of 7.01% and a negative return on equity of 26.29%. The company had revenue of $180.87 million for the quarter, compared to analysts’ expectations of $178.26 million. Analysts expect that DigitalOcean Holdings, Inc. will post 0.78 earnings per share 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).