11,689 Shares in DigitalOcean Holdings, Inc. (NYSE:DOCN) Acquired by Twinbeech Capital LP

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

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in DigitalOcean by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 8,434,555 shares of the company's stock worth $287,365,000 after purchasing an additional 117,133 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted 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 worth $55,500,000 after purchasing an additional 231,407 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in DigitalOcean by 7.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,545,642 shares of the company's stock worth $52,660,000 after purchasing an additional 105,235 shares in the last quarter. First Trust Advisors LP lifted its stake in DigitalOcean by 6.2% in the 4th quarter. First Trust Advisors LP now owns 1,533,699 shares of the company's stock worth $52,253,000 after purchasing an additional 89,349 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in DigitalOcean by 0.6% in the 4th 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. Institutional investors own 49.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on DOCN. Barclays decreased their price target 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. Canaccord Genuity Group decreased their target price on shares of DigitalOcean from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. upped their target price on shares of DigitalOcean from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Morgan Stanley decreased their target price on shares of DigitalOcean from $52.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC restated a "hold" rating on shares of DigitalOcean in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $39.83.

Insider Activity

In other news, insider Bratin Saha sold 3,948 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $36.63, for a total value of $144,615.24. Following the sale, the insider now directly owns 358,696 shares of the company's stock, valued at approximately $13,139,034.48. The trade was a 1.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.96% of the company's stock.

DigitalOcean Stock Performance

NYSE:DOCN traded down $0.38 during midday trading on Wednesday, reaching $28.44. 197,098 shares of the stock traded hands, compared to its average volume of 1,249,743. DigitalOcean Holdings, Inc. has a 12-month low of $25.45 and a 12-month high of $47.02. The business has a 50-day moving average of $30.48 and a two-hundred day moving average of $35.81. The stock has a market capitalization of $2.59 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 3.12 and a beta of 1.88.

DigitalOcean (NYSE:DOCN - Get Free Report) last issued its 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. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The firm had revenue of $210.70 million during the quarter, compared to analysts' expectations of $208.63 million. During the same quarter last year, the company posted $0.43 earnings per share. The firm's revenue was up 14.1% compared to the same quarter last year. Research analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

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).