Los Angeles Capital Management LLC Has $1.12 Million Stock Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Los Angeles Capital Management LLC boosted its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 6.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,656 shares of the company’s stock after acquiring an additional 1,760 shares during the quarter. Los Angeles Capital Management LLC’s holdings in DigitalOcean were worth $1,117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DOCN. Farther Finance Advisors LLC acquired a new stake in shares of DigitalOcean in the 3rd quarter valued at approximately $30,000. Blue Trust Inc. boosted its position in DigitalOcean by 380.6% in the third quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $49,000 after buying an additional 959 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of DigitalOcean by 56.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock worth $54,000 after buying an additional 483 shares during the last quarter. Covestor Ltd increased its holdings in shares of DigitalOcean by 571.4% during the first quarter. Covestor Ltd now owns 1,947 shares of the company’s stock worth $74,000 after buying an additional 1,657 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in shares of DigitalOcean by 11,041.9% in the 2nd quarter. Quest Partners LLC now owns 3,454 shares of the company’s stock valued at $120,000 after acquiring an additional 3,423 shares during the last quarter. Institutional investors own 49.77% of the company’s stock.

DigitalOcean Stock Up 0.8 %

DOCN opened at $38.35 on Friday. DigitalOcean Holdings, Inc. has a twelve month low of $26.10 and a twelve month high of $44.80. The company has a fifty day moving average of $40.62 and a 200-day moving average of $36.90. The stock has a market cap of $3.54 billion, a PE ratio of 45.12, a price-to-earnings-growth ratio of 2.47 and a beta of 1.83.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The firm had revenue of $198.50 million during 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 business’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. Sell-side analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on DOCN shares. Barclays upped their target price on DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Stifel Nicolaus raised their price objective on shares of DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a report on Friday, August 9th. UBS Group cut their target price on shares of DigitalOcean from $40.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.50.

DigitalOcean 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).