Interval Partners LP Makes New $3.69 Million Investment in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Interval Partners LP bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 108,309 shares of the company's stock, valued at approximately $3,690,000. Interval Partners LP owned approximately 0.12% of DigitalOcean at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in DigitalOcean by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 8,434,555 shares of the company's stock worth $287,365,000 after acquiring an additional 117,133 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in DigitalOcean by 16.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,628,995 shares of the company's stock worth $55,500,000 after acquiring an additional 231,407 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in DigitalOcean by 7.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,545,642 shares of the company's stock worth $52,660,000 after acquiring an additional 105,235 shares in the last quarter. First Trust Advisors LP raised its stake in DigitalOcean by 6.2% during the fourth quarter. First Trust Advisors LP now owns 1,533,699 shares of the company's stock worth $52,253,000 after acquiring an additional 89,349 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in DigitalOcean by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,473,421 shares of the company's stock worth $50,211,000 after acquiring an additional 9,088 shares in the last quarter. 49.77% of the stock is currently owned by institutional investors and hedge funds.

DigitalOcean Stock Up 1.2%

DOCN stock traded up $0.37 during midday trading on Friday, reaching $31.05. The stock had a trading volume of 1,114,824 shares, compared to its average volume of 1,243,067. The business has a fifty day simple moving average of $31.47 and a two-hundred day simple moving average of $36.26. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 3.12 and a beta of 1.88. DigitalOcean Holdings, Inc. has a twelve month low of $25.45 and a twelve month high of $47.02.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.11. The firm had revenue of $210.70 million during the quarter, compared to analyst estimates of $208.63 million. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The company's revenue was up 14.1% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. On average, equities analysts predict that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DigitalOcean news, insider Bratin Saha sold 3,461 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $26.86, for a total transaction of $92,962.46. Following the transaction, the insider now owns 394,367 shares in the company, valued at approximately $10,592,697.62. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on DigitalOcean from $40.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. UBS Group dropped their price objective on DigitalOcean from $44.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. JMP Securities raised their target price on DigitalOcean from $47.00 to $55.00 and gave the company a "market outperform" rating in a research note on Monday, January 27th. The Goldman Sachs Group lowered their target price on DigitalOcean from $46.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of DigitalOcean in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $39.83.

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).