JTC Employer Solutions Trustee Ltd Takes $45,000 Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

JTC Employer Solutions Trustee Ltd bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,315 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in DigitalOcean in the second quarter valued at approximately $877,000. Versor Investments LP acquired a new position in shares of DigitalOcean in the third quarter worth $751,000. Public Sector Pension Investment Board acquired a new position in shares of DigitalOcean in the second quarter worth $4,108,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of DigitalOcean in the second quarter worth $11,712,000. Finally, FORA Capital LLC acquired a new position in shares of DigitalOcean in the third quarter worth $1,149,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCN has been the subject of several research reports. 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. Canaccord Genuity Group boosted their price target on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Barclays boosted their price target on shares of DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Needham & Company LLC reiterated a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus boosted their target price on shares of DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, DigitalOcean currently has an average rating of “Hold” and an average target price of $42.13.

Insider Buying and Selling at DigitalOcean

In other news, insider Bratin Saha sold 16,989 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $36.85, for a total value of $626,044.65. Following the completion of the sale, the insider now directly owns 390,296 shares of the company’s stock, valued at approximately $14,382,407.60. This represents a 4.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matt Steinfort sold 12,498 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total transaction of $499,920.00. Following the completion of the sale, the chief financial officer now directly owns 517,498 shares of the company’s stock, valued at $20,699,920. The trade was a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,955 shares of company stock worth $1,258,373 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.

DigitalOcean Stock Performance

NYSE DOCN traded down $0.86 during trading hours on Monday, hitting $33.16. The company had a trading volume of 202,532 shares, compared to its average volume of 660,838. DigitalOcean Holdings, Inc. has a 1-year low of $26.63 and a 1-year high of $44.80. The company has a market cap of $3.06 billion, a PE ratio of 39.01, a price-to-earnings-growth ratio of 2.45 and a beta of 1.76. The business has a 50 day moving average of $37.14 and a 200-day moving average of $37.22.

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

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).