Farther Finance Advisors LLC Makes New Investment in DigitalOcean Holdings, Inc. (NYSE:DOCN)

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

A number of other large investors have also recently modified their holdings of DOCN. Vanguard Group Inc. increased its position in DigitalOcean by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 6,728,563 shares of the company’s stock valued at $256,897,000 after purchasing an additional 696,426 shares during the period. Van Berkom & Associates Inc. raised its stake in DigitalOcean by 1.6% in the second quarter. Van Berkom & Associates Inc. now owns 1,273,103 shares of the company’s stock worth $44,240,000 after buying an additional 19,731 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in DigitalOcean by 27.9% during the second quarter. Principal Financial Group Inc. now owns 1,178,848 shares of the company’s stock worth $40,965,000 after buying an additional 257,229 shares during the period. Dimensional Fund Advisors LP lifted its holdings in DigitalOcean by 23.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,079,579 shares of the company’s stock worth $37,512,000 after buying an additional 205,007 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of DigitalOcean by 8.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 864,514 shares of the company’s stock valued at $33,007,000 after acquiring an additional 63,771 shares during the period. Hedge funds and other institutional investors own 49.77% of the company’s stock.

DigitalOcean Stock Performance

Shares of DOCN opened at $38.35 on Friday. The stock has a 50-day moving average of $40.62 and a two-hundred day moving average of $36.90. The stock has a market cap of $3.54 billion, a P/E ratio of 44.76, a P/E/G ratio of 2.47 and a beta of 1.83. DigitalOcean Holdings, Inc. has a one year low of $26.10 and a one year high of $44.80.

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

Analyst Upgrades and Downgrades

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