48,924 Shares in DigitalOcean Holdings, Inc. (NYSE:DOCN) Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 48,924 shares of DigitalOcean Holdings, Inc. valued at approximately $1.6 million, increasing its ownership to 0.05% of the company.
• DigitalOcean recently reported a quarterly revenue of $210.70 million, exceeding analyst expectations and marking a 14.1% year-over-year increase in revenue.
• Analysts have shown mixed opinions on DigitalOcean, with some adjusting target prices downward; the stock currently holds an average rating of "Hold" and an average price target of $40.36.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 48,924 shares of the company's stock, valued at approximately $1,634,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.05% of DigitalOcean as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in DOCN. GAMMA Investing LLC raised its position in shares of DigitalOcean by 336.1% during the first quarter. GAMMA Investing LLC now owns 1,064 shares of the company's stock worth $36,000 after purchasing an additional 820 shares during the period. Farther Finance Advisors LLC raised its position in shares of DigitalOcean by 135,100.0% during the first quarter. Farther Finance Advisors LLC now owns 1,352 shares of the company's stock worth $46,000 after purchasing an additional 1,351 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of DigitalOcean during the fourth quarter worth $115,000. Canada Pension Plan Investment Board acquired a new stake in shares of DigitalOcean during the fourth quarter worth $133,000. Finally, Mariner LLC raised its position in shares of DigitalOcean by 14.4% during the fourth quarter. Mariner LLC now owns 6,685 shares of the company's stock worth $228,000 after purchasing an additional 839 shares during the period. Institutional investors and hedge funds own 49.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DOCN. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a research report on Tuesday, May 6th. Morgan Stanley dropped their price target on DigitalOcean from $52.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Canaccord Genuity Group dropped their price target on DigitalOcean from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Stifel Nicolaus dropped their price target on DigitalOcean from $40.00 to $33.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. Finally, Wall Street Zen raised DigitalOcean from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $40.36.

Insider Activity

In other news, insider Bratin Saha sold 3,461 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $27.77, for a total transaction of $96,111.97. Following the completion of the sale, the insider owned 294,546 shares in the company, valued at approximately $8,179,542.42. This represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.74% of the company's stock.

DigitalOcean Trading Up 26.4%

NYSE DOCN traded up $7.13 on Tuesday, reaching $34.14. The stock had a trading volume of 6,620,937 shares, compared to its average volume of 1,509,722. The business has a 50 day moving average price of $28.46 and a 200 day moving average price of $32.93. DigitalOcean Holdings, Inc. has a 1 year low of $25.45 and a 1 year high of $47.02. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 30.64, a P/E/G ratio of 1.89 and a beta of 1.75.

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

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).