Schonfeld Strategic Advisors LLC Makes New $315,000 Investment in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Schonfeld Strategic Advisors LLC purchased a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,260 shares of the company's stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Harbor Investment Advisory LLC boosted its holdings 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 purchasing an additional 570 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in DigitalOcean in the 4th quarter valued at approximately $45,000. SBI Securities Co. Ltd. purchased a new stake in DigitalOcean in the 4th quarter valued at approximately $66,000. KBC Group NV boosted its holdings 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 purchasing an additional 788 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of DigitalOcean during the 4th quarter worth approximately $115,000. Hedge funds and other institutional investors own 49.77% of the company's stock.

DigitalOcean Stock Up 1.2%

Shares of DOCN stock traded up $0.37 on Friday, reaching $31.05. 1,114,824 shares of the stock were exchanged, compared to its average volume of 1,243,237. The stock has a market cap of $2.83 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 3.12 and a beta of 1.88. The firm has a 50 day moving average of $31.47 and a two-hundred day moving average of $36.29. DigitalOcean Holdings, Inc. has a 1-year low of $25.45 and a 1-year high of $47.02.

DigitalOcean (NYSE:DOCN - Get Free Report) last released 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 business had revenue of $210.70 million during the quarter, compared to the consensus estimate of $208.63 million. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The business's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 EPS. On average, equities research analysts predict that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Insider Transactions at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,948 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $36.63, for a total transaction of $144,615.24. Following the sale, the insider now owns 358,696 shares in the company, valued at $13,139,034.48. This represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.96% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on DOCN. Barclays decreased their price target on DigitalOcean from $48.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Cantor Fitzgerald boosted their price target on DigitalOcean from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on DigitalOcean from $46.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price target on DigitalOcean from $40.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, DigitalOcean has a consensus rating of "Hold" and an average target price of $39.83.

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).