AMH Equity Ltd Buys New Stake in DigitalOcean Holdings, Inc. (NYSE:DOCN)

AMH Equity Ltd purchased a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 95,400 shares of the company's stock, valued at approximately $3,185,000. DigitalOcean accounts for 4.8% of AMH Equity Ltd's investment portfolio, making the stock its 5th largest holding. AMH Equity Ltd owned about 0.10% of DigitalOcean at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jackson Creek Investment Advisors LLC bought a new stake in shares of DigitalOcean in the 1st quarter worth approximately $1,194,000. CWM LLC boosted its position in shares of DigitalOcean by 4.7% in the 1st quarter. CWM LLC now owns 17,802 shares of the company's stock worth $594,000 after purchasing an additional 799 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of DigitalOcean in the 1st quarter worth approximately $223,000. Concurrent Investment Advisors LLC bought a new position in DigitalOcean in the 1st quarter valued at approximately $265,000. Finally, Teacher Retirement System of Texas bought a new position in DigitalOcean in the 1st quarter valued at approximately $315,000. Hedge funds and other institutional investors own 49.77% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen raised DigitalOcean from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a report on Tuesday, May 6th. Citigroup lowered their price target on DigitalOcean from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective 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, Canaccord Genuity Group reduced their price objective on DigitalOcean from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, DigitalOcean currently has an average rating of "Hold" and an average price target of $40.36.

DigitalOcean Stock Performance

NYSE DOCN traded up $0.34 during trading on Friday, hitting $29.48. The stock had a trading volume of 1,444,151 shares, compared to its average volume of 1,312,316. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 2.16 and a beta of 1.76. DigitalOcean Holdings, Inc. has a one year low of $25.45 and a one year high of $47.02. The stock has a 50 day simple moving average of $28.86 and a 200 day simple moving average of $33.43.

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

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,461 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $27.77, for a total value of $96,111.97. Following the sale, the insider directly owned 294,546 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is owned by company insiders.

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).