11,038 Shares in DigitalOcean Holdings, Inc. (NYSE:DOCN) Acquired by MRA Advisory Group

MRA Advisory Group purchased a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,038 shares of the company's stock, valued at approximately $369,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in DigitalOcean by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 8,434,555 shares of the company's stock valued at $287,365,000 after buying an additional 117,133 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in 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 acquiring an additional 231,407 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of DigitalOcean by 7.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,545,642 shares of the company's stock valued at $52,660,000 after buying an additional 105,235 shares during the period. First Trust Advisors LP increased its position in shares of DigitalOcean by 6.2% during the fourth quarter. First Trust Advisors LP now owns 1,533,699 shares of the company's stock valued at $52,253,000 after buying an additional 89,349 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 9,088 shares in the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

DigitalOcean Trading Up 1.2%

NYSE:DOCN traded up $0.34 during midday trading on Monday, hitting $28.97. 1,440,872 shares of the company were exchanged, compared to its average volume of 1,274,406. The company has a market capitalization of $2.64 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 3.12 and a beta of 1.78. The company has a fifty day simple moving average of $29.34 and a 200 day simple moving average of $35.27. 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 issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.11. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The business had revenue of $210.70 million for the quarter, compared to analyst estimates of $208.63 million. During the same period in the previous year, the business posted $0.43 earnings per share. The business's revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts expect that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DOCN shares. Cantor Fitzgerald upped their target price on DigitalOcean from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price objective on DigitalOcean from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Bank of America increased their target price on DigitalOcean from $28.00 to $31.00 and gave the company an "underperform" rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus lowered their target price on DigitalOcean from $40.00 to $33.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, DigitalOcean presently has a consensus rating of "Hold" and an average price target of $39.83.

Insider Activity at DigitalOcean

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

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).