Farther Finance Advisors LLC Purchases Shares of 744 DigitalOcean Holdings, Inc. (NYSE:DOCN)

Farther Finance Advisors LLC acquired a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 744 shares of the company’s stock, valued at approximately $30,000.

A number of other large investors have also recently made changes to their positions in DOCN. Point72 Hong Kong Ltd purchased a new position in DigitalOcean during the second quarter valued at approximately $877,000. Public Sector Pension Investment Board purchased a new position in shares of DigitalOcean during the 2nd quarter valued at $4,108,000. University of Texas Texas AM Investment Management Co. bought a new position in DigitalOcean in the 2nd quarter worth $11,712,000. Vanguard Group Inc. increased its stake in DigitalOcean by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 6,728,563 shares of the company’s stock worth $256,897,000 after buying an additional 696,426 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in DigitalOcean by 10.7% during the first quarter. Janus Henderson Group PLC now owns 205,327 shares of the company’s stock valued at $7,839,000 after acquiring an additional 19,807 shares during the period. 49.77% of the stock is owned by hedge funds and other institutional investors.

DigitalOcean Trading Up 0.8 %

Shares of NYSE DOCN opened at $38.35 on Friday. DigitalOcean Holdings, Inc. has a 12-month low of $26.10 and a 12-month high of $44.80. The firm’s 50-day moving average price is $40.62 and its 200-day moving average price is $36.90. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 44.76, a P/E/G ratio of 2.47 and a beta of 1.83.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on DOCN. Stifel Nicolaus increased their target price on DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a report on Tuesday, November 5th. Canaccord Genuity Group raised their target price on shares of DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on shares of DigitalOcean from $32.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, UBS Group cut their price objective on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.50.

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).