DigitalOcean Holdings, Inc. (NYSE:DOCN) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 7.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,516 shares of the company’s stock after buying an additional 683 shares during the quarter. Mutual of America Capital Management LLC’s holdings in DigitalOcean were worth $384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DOCN. Farther Finance Advisors LLC acquired a new position in shares of DigitalOcean during the 3rd quarter worth about $30,000. Blue Trust Inc. grew its stake in DigitalOcean by 380.6% during the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $49,000 after acquiring an additional 959 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in DigitalOcean by 56.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock valued at $54,000 after acquiring an additional 483 shares in the last quarter. KBC Group NV raised its holdings in DigitalOcean by 47.6% in the 3rd quarter. KBC Group NV now owns 2,096 shares of the company’s stock valued at $85,000 after acquiring an additional 676 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in DigitalOcean by 11,041.9% in the 2nd quarter. Quest Partners LLC now owns 3,454 shares of the company’s stock worth $120,000 after purchasing an additional 3,423 shares in the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DigitalOcean

In other news, insider Bratin Saha sold 16,989 shares of the company’s stock in a transaction on Monday, November 18th. The shares were 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 of the company’s stock, valued at $14,382,407.60. This represents a 4.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.74% of the company’s stock.

DigitalOcean Stock Performance

Shares of DigitalOcean stock opened at $37.88 on Thursday. The company’s fifty day moving average is $40.48 and its two-hundred day moving average is $37.16. DigitalOcean Holdings, Inc. has a 1 year low of $26.63 and a 1 year high of $44.80. The company has a market capitalization of $3.50 billion, a P/E ratio of 44.56, a PEG ratio of 2.54 and a beta of 1.83.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The firm had revenue of $198.50 million for the quarter, compared to analyst estimates of $196.64 million. During the same period last year, the firm posted $0.17 EPS. DigitalOcean’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, equities analysts expect that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DOCN shares. Barclays upped their price target on DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Canaccord Genuity Group raised their price target on DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Stifel Nicolaus lifted their price target on shares of DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, UBS Group cut their target price on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.50.

About DigitalOcean

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).