Natixis Advisors LLC Invests $367,000 in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Key Points

• Natixis Advisors LLC purchased 10,982 shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) in the first quarter, valued at approximately $367,000.
• Other hedge funds, including Viking Fund Management LLC and Wesbanco Bank Inc., also recently acquired new stakes in DigitalOcean, indicating increased institutional interest in the company.
• DigitalOcean reported $0.59 earnings per share for the last quarter, exceeding analysts' expectations and reflecting a year-over-year revenue growth of 13.6%.

Natixis Advisors LLC purchased a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,982 shares of the company's stock, valued at approximately $367,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobs Levy Equity Management Inc. raised its holdings in shares of DigitalOcean by 16.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,628,995 shares of the company's stock valued at $55,500,000 after buying an additional 231,407 shares during the period. Interval Partners LP purchased a new stake in DigitalOcean during the 4th quarter worth about $3,690,000. Fuller & Thaler Asset Management Inc. increased its holdings in DigitalOcean by 7.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,545,642 shares of the company's stock worth $52,660,000 after purchasing an additional 105,235 shares during the period. AMH Equity Ltd acquired a new position in shares of DigitalOcean during the 1st quarter worth about $3,185,000. Finally, Northern Trust Corp boosted its position in shares of DigitalOcean by 14.8% during the 4th quarter. Northern Trust Corp now owns 725,960 shares of the company's stock worth $24,733,000 after acquiring an additional 93,347 shares in the last quarter. Institutional investors own 49.77% of the company's stock.

DigitalOcean Price Performance

NYSE:DOCN traded down $1.23 during mid-day trading on Thursday, reaching $30.52. The stock had a trading volume of 3,314,048 shares, compared to its average volume of 1,737,310. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.75. DigitalOcean Holdings, Inc. has a 1-year low of $25.45 and a 1-year high of $47.02. The stock's 50 day simple moving average is $29.03 and its two-hundred day simple moving average is $32.75.

DigitalOcean (NYSE:DOCN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.12. DigitalOcean had a negative return on equity of 73.19% and a net margin of 15.18%. The company had revenue of $218.70 million during the quarter, compared to the consensus estimate of $216.62 million. During the same period in the previous year, the firm posted $0.48 earnings per share. DigitalOcean's quarterly revenue was up 13.6% compared to the same quarter last year. Sell-side analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity

In other DigitalOcean news, insider Bratin Saha sold 3,461 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was 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. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.96% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on DOCN shares. UBS Group decreased their target price on DigitalOcean from $44.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Barclays upped their price objective on DigitalOcean from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Wall Street Zen raised DigitalOcean from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Morgan Stanley upped their price objective on DigitalOcean from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Citigroup reduced their price objective on DigitalOcean from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, DigitalOcean has a consensus rating of "Hold" and an average target price of $41.45.

DigitalOcean Company 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).