Alterity Financial Group LLC Purchases Shares of 6,260 DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Alterity Financial Group LLC acquired a new position in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,260 shares of the company’s stock, valued at approximately $230,000.

Several other large investors have also bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in shares of DigitalOcean during the 4th quarter valued at about $1,565,000. Renaissance Capital LLC increased its position in shares of DigitalOcean by 26.3% in the fourth quarter. Renaissance Capital LLC now owns 40,160 shares of the company’s stock worth $1,473,000 after acquiring an additional 8,370 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of DigitalOcean by 3.3% during the third quarter. Vanguard Group Inc. now owns 6,391,293 shares of the company’s stock valued at $153,583,000 after acquiring an additional 202,179 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of DigitalOcean by 40.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 784,046 shares of the company’s stock valued at $18,841,000 after acquiring an additional 224,477 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in DigitalOcean during the 3rd quarter worth approximately $7,029,000. Institutional investors own 49.77% of the company’s stock.

DigitalOcean Price Performance

DOCN stock opened at $38.18 on Friday. The company has a 50-day moving average of $37.56 and a two-hundred day moving average of $31.60. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 66.24, a price-to-earnings-growth ratio of 3.35 and a beta of 1.81. DigitalOcean Holdings, Inc. has a 52-week low of $19.39 and a 52-week high of $51.69.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DOCN. JMP Securities reiterated a “market outperform” rating and set a $47.00 price target on shares of DigitalOcean in a report on Thursday, March 21st. Oppenheimer increased their price target on shares of DigitalOcean from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Barclays boosted their price objective on shares of DigitalOcean from $37.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, January 12th. Finally, Piper Sandler increased their target price on shares of DigitalOcean from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, DigitalOcean currently has an average rating of “Hold” and a consensus price target of $37.60.

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).