FORA Capital LLC Acquires Shares of 28,440 DigitalOcean Holdings, Inc. (NYSE:DOCN)

FORA Capital LLC acquired a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 28,440 shares of the company’s stock, valued at approximately $1,149,000.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in DigitalOcean during the 3rd quarter valued at $30,000. Advisors Asset Management Inc. lifted its stake in DigitalOcean by 150.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock valued at $39,000 after acquiring an additional 585 shares in the last quarter. Blue Trust Inc. lifted 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 lifted 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. Finally, KBC Group NV lifted its stake in DigitalOcean by 47.6% during 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 in the last quarter. 49.77% of the stock is currently owned by institutional investors.

DigitalOcean Stock Performance

Shares of DOCN opened at $37.88 on Thursday. The business has a 50-day moving average of $40.48 and a 200 day moving average of $37.16. DigitalOcean Holdings, Inc. has a fifty-two week low of $26.63 and a fifty-two week high of $44.80. The firm has a market cap of $3.50 billion, a P/E ratio of 44.56, a price-to-earnings-growth ratio of 2.54 and a beta of 1.83.

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

Wall Street Analyst Weigh In

DOCN has been the topic of several recent analyst reports. Stifel Nicolaus raised their price objective on DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. UBS Group decreased their target price on DigitalOcean from $40.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Barclays raised their target price on DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, DigitalOcean currently has an average rating of “Hold” and a consensus target price of $41.50.

Insider Buying and Selling

In other DigitalOcean news, insider Bratin Saha sold 16,989 shares of DigitalOcean stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $626,044.65. Following the completion of the transaction, the insider now owns 390,296 shares of the company’s stock, valued at $14,382,407.60. The trade was a 4.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is currently owned by insiders.

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).