FORA Capital LLC Makes New $1.15 Million Investment in DigitalOcean Holdings, Inc. (NYSE:DOCN)

FORA Capital LLC bought a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 28,440 shares of the company’s stock, valued at approximately $1,149,000.

Several other institutional investors have also recently bought and sold shares of DOCN. Farther Finance Advisors LLC acquired a new position in DigitalOcean during the third quarter worth about $30,000. Advisors Asset Management Inc. increased its stake in shares of DigitalOcean by 150.4% in the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock valued at $39,000 after buying an additional 585 shares during the period. Blue Trust Inc. increased its stake in shares of DigitalOcean by 380.6% in the third quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $49,000 after buying an additional 959 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of DigitalOcean by 56.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock valued at $54,000 after buying an additional 483 shares during the period. Finally, KBC Group NV increased its stake in shares of DigitalOcean by 47.6% in the third quarter. KBC Group NV now owns 2,096 shares of the company’s stock valued at $85,000 after buying an additional 676 shares during the period. Institutional investors and hedge funds own 49.77% of the company’s stock.

Insiders Place Their Bets

In other DigitalOcean news, insider Bratin Saha sold 16,989 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $626,044.65. Following the transaction, the insider now directly owns 390,296 shares in the company, valued at approximately $14,382,407.60. This represents a 4.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.74% of the company’s stock.

DigitalOcean Stock Performance

NYSE:DOCN opened at $37.88 on Thursday. The company has a market capitalization of $3.50 billion, a PE ratio of 44.56, a P/E/G ratio of 2.54 and a beta of 1.83. DigitalOcean Holdings, Inc. has a fifty-two week low of $26.63 and a fifty-two week high of $44.80. The company has a 50 day simple moving average of $40.48 and a two-hundred day simple moving average of $37.16.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The firm had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $196.64 million. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. Research analysts predict that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays upped their price objective on DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus upped their price objective on DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, August 9th. UBS Group lowered their price objective on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Canaccord Genuity Group upped their price objective on DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.50.

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).