DigitalOcean Holdings, Inc. (NYSE:DOCN) Position Lessened by 180 Wealth Advisors LLC

180 Wealth Advisors LLC trimmed its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 79.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,047 shares of the company's stock after selling 23,536 shares during the quarter. 180 Wealth Advisors LLC's holdings in DigitalOcean were worth $202,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of DigitalOcean by 14,460.2% in the first quarter. GAMMA Investing LLC now owns 35,527 shares of the company's stock worth $1,186,000 after purchasing an additional 35,283 shares in the last quarter. California State Teachers Retirement System lifted its holdings in DigitalOcean by 6.9% in the fourth quarter. California State Teachers Retirement System now owns 60,357 shares of the company's stock worth $2,056,000 after purchasing an additional 3,880 shares during the period. Twinbeech Capital LP bought a new position in DigitalOcean in the 4th quarter valued at about $398,000. ProShare Advisors LLC increased its stake in DigitalOcean by 42.4% during the 4th quarter. ProShare Advisors LLC now owns 20,384 shares of the company's stock valued at $694,000 after buying an additional 6,073 shares during the period. Finally, Interval Partners LP bought a new stake in shares of DigitalOcean during the 4th quarter worth about $3,690,000. Institutional investors and hedge funds own 49.77% of the company's stock.

Insider Buying and Selling

In other news, insider Bratin Saha sold 3,461 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $26.86, for a total value of $92,962.46. Following the completion of the sale, the insider now directly owns 394,367 shares of the company's stock, valued at $10,592,697.62. This represents a 0.87% 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. Company insiders own 0.96% of the company's stock.

DigitalOcean Trading Down 7.0%

Shares of DOCN traded down $2.09 during midday trading on Thursday, hitting $27.78. The stock had a trading volume of 3,487,097 shares, compared to its average volume of 1,264,984. The business has a 50-day simple moving average of $29.55 and a two-hundred day simple moving average of $35.44. The firm has a market cap of $2.53 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 3.12 and a beta of 1.78. DigitalOcean Holdings, Inc. has a fifty-two week low of $25.45 and a fifty-two week high of $47.02.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted 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 net margin of 10.86% and a negative return on equity of 43.11%. The company's revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. On average, analysts expect that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on DOCN shares. Barclays lowered their price objective on shares of DigitalOcean from $48.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Bank of America lifted their price target on DigitalOcean from $28.00 to $31.00 and gave the company an "underperform" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their target price on DigitalOcean from $46.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. UBS Group dropped their price target on shares of DigitalOcean from $44.00 to $32.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Citigroup reduced their price objective on shares of DigitalOcean from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $39.83.

About DigitalOcean

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).