DigitalOcean Holdings, Inc. (NASDAQ:DOCN) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its holdings in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) by 156.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,726 shares of the company’s stock after buying an additional 30,351 shares during the quarter. Los Angeles Capital Management LLC’s holdings in DigitalOcean were worth $1,824,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. a16z Perennial Management L.P. purchased a new stake in DigitalOcean in the 4th quarter worth $3,140,000. Victory Capital Management Inc. acquired a new stake in shares of DigitalOcean in the fourth quarter valued at about $240,000. Russell Investments Group Ltd. grew its position in shares of DigitalOcean by 54.6% in the fourth quarter. Russell Investments Group Ltd. now owns 155,733 shares of the company’s stock valued at $5,714,000 after purchasing an additional 55,007 shares during the period. Headlands Technologies LLC acquired a new position in shares of DigitalOcean during the 4th quarter worth about $67,000. Finally, K.J. Harrison & Partners Inc acquired a new position in shares of DigitalOcean during the 4th quarter worth about $2,091,000. 49.77% of the stock is owned by institutional investors and hedge funds.

DigitalOcean Trading Down 0.1 %

Shares of NASDAQ DOCN opened at $34.83 on Wednesday. DigitalOcean Holdings, Inc. has a 12-month low of $19.39 and a 12-month high of $51.69. The stock has a market cap of $3.18 billion, a P/E ratio of 3,486.49, a PEG ratio of 2.94 and a beta of 1.83. The business’s fifty day simple moving average is $36.81 and its 200-day simple moving average is $33.82.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DOCN shares. Barclays boosted their price target on shares of DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Piper Sandler upped their price target on DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Oppenheimer increased their price target on DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $47.00 target price on shares of DigitalOcean in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.78.

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).