Single Point Partners LLC Sells 2,035 Shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Single Point Partners LLC lowered its stake in DigitalOcean Holdings, Inc. (NASDAQ:DOCNFree Report) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,200 shares of the company’s stock after selling 2,035 shares during the quarter. Single Point Partners LLC’s holdings in DigitalOcean were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Baird Financial Group Inc. boosted its position in shares of DigitalOcean by 0.8% during the third quarter. Baird Financial Group Inc. now owns 38,215 shares of the company’s stock valued at $1,382,000 after buying an additional 321 shares during the last quarter. Vident Investment Advisory LLC boosted its position in DigitalOcean by 4.3% in the fourth quarter. Vident Investment Advisory LLC now owns 9,047 shares of the company’s stock worth $230,000 after purchasing an additional 369 shares during the last quarter. Van Den Berg Management I Inc. raised its stake in shares of DigitalOcean by 0.8% in the second quarter. Van Den Berg Management I Inc. now owns 53,892 shares of the company’s stock worth $2,163,000 after buying an additional 451 shares during the period. Macquarie Group Ltd. raised its stake in DigitalOcean by 48.1% during the 2nd quarter. Macquarie Group Ltd. now owns 1,747 shares of the company’s stock valued at $72,000 after purchasing an additional 567 shares during the period. Finally, ProShare Advisors LLC raised its stake in DigitalOcean by 6.6% during the 2nd quarter. ProShare Advisors LLC now owns 9,443 shares of the company’s stock valued at $379,000 after purchasing an additional 587 shares during the period. Institutional investors own 56.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on DOCN shares. Piper Sandler lifted their price objective on DigitalOcean from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Barclays lifted their target price on DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. Finally, Oppenheimer lifted their target price on DigitalOcean from $37.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.60.

Get Our Latest Stock Analysis on DigitalOcean

DigitalOcean Stock Performance

NASDAQ:DOCN traded up $0.01 during mid-day trading on Wednesday, hitting $39.27. 867,873 shares of the company’s stock traded hands, compared to its average volume of 1,106,469. The company has a fifty day moving average of $37.06 and a 200 day moving average of $31.05. DigitalOcean Holdings, Inc. has a twelve month low of $19.39 and a twelve month high of $51.69. The company has a market capitalization of $3.57 billion, a P/E ratio of 3,930.93, a P/E/G ratio of 3.50 and a beta of 1.81.

DigitalOcean (NASDAQ:DOCNGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.23. DigitalOcean had a negative return on equity of 19.85% and a net margin of 0.12%. The business had revenue of $180.87 million for the quarter, compared to the consensus estimate of $178.26 million. On average, research analysts expect that DigitalOcean Holdings, Inc. will post 0.77 earnings per share for the current fiscal year.

About DigitalOcean

(Free Report)

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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Institutional Ownership by Quarter for DigitalOcean (NASDAQ:DOCN)

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