Twinbeech Capital LP Acquires New Shares in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Twinbeech Capital LP acquired a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,689 shares of the company's stock, valued at approximately $398,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DOCN. Harbor Investment Advisory LLC lifted its position in DigitalOcean by 380.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company's stock valued at $25,000 after acquiring an additional 570 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in DigitalOcean in the 4th quarter valued at approximately $66,000. KBC Group NV lifted its position in DigitalOcean by 37.6% in the 4th quarter. KBC Group NV now owns 2,884 shares of the company's stock valued at $98,000 after acquiring an additional 788 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in DigitalOcean in the 4th quarter valued at approximately $115,000. Finally, Canada Pension Plan Investment Board bought a new position in DigitalOcean in the 4th quarter valued at approximately $133,000. 49.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other DigitalOcean news, insider Bratin Saha sold 3,461 shares of the stock in a transaction on Monday, April 21st. The stock was 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 owns 394,367 shares in the company, valued at approximately $10,592,697.62. This represents a 0.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.96% of the stock is owned by insiders.

DigitalOcean Stock Performance

Shares of DigitalOcean stock opened at $29.10 on Friday. DigitalOcean Holdings, Inc. has a one year low of $25.45 and a one year high of $47.02. The stock's fifty day moving average is $30.95 and its 200 day moving average is $36.03. The stock has a market cap of $2.65 billion, a P/E ratio of 34.24, a P/E/G ratio of 3.12 and a beta of 1.88.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced 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. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The company had revenue of $210.70 million for the quarter, compared to analysts' expectations of $208.63 million. During the same period last year, the firm earned $0.43 EPS. DigitalOcean's revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts predict that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DOCN. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price target on DigitalOcean from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. 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. UBS Group lowered their price target on DigitalOcean from $44.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, Barclays lowered their price target on DigitalOcean from $48.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. 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 company's stock. Based on data from MarketBeat.com, DigitalOcean currently has a consensus rating of "Hold" and an average target price of $39.83.

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).

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