AtonRa Partners Sells 858 Shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

AtonRa Partners trimmed its stake in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) by 14.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,209 shares of the company’s stock after selling 858 shares during the period. AtonRa Partners’ holdings in DigitalOcean were worth $191,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new position in shares of DigitalOcean in the fourth quarter valued at approximately $35,000. Headlands Technologies LLC acquired a new position in DigitalOcean during the 4th quarter worth $67,000. Geneos Wealth Management Inc. boosted its holdings in DigitalOcean by 107.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,123 shares of the company’s stock valued at $78,000 after acquiring an additional 1,100 shares during the period. Householder Group Estate & Retirement Specialist LLC boosted its holdings in DigitalOcean by 41.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,399 shares of the company’s stock valued at $88,000 after acquiring an additional 698 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in shares of DigitalOcean in the third quarter worth about $211,000. 49.77% of the stock is currently owned by institutional investors and hedge funds.

DigitalOcean Stock Performance

Shares of DOCN stock traded down $0.84 during mid-day trading on Tuesday, reaching $33.20. The company’s stock had a trading volume of 178,171 shares, compared to its average volume of 982,912. The firm’s 50-day moving average is $37.06 and its two-hundred day moving average is $33.43. The company has a market cap of $3.03 billion, a P/E ratio of 3,408.41, a PEG ratio of 2.87 and a beta of 1.80. DigitalOcean Holdings, Inc. has a 1-year low of $19.39 and a 1-year high of $51.69.

DigitalOcean (NASDAQ:DOCN) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.23. The firm had revenue of $180.87 million during the quarter, compared to analyst estimates of $178.26 million. DigitalOcean had a net margin of 0.12% and a negative return on equity of 19.85%. Sell-side analysts anticipate that DigitalOcean Holdings, Inc. will post 0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DOCN shares. JMP Securities restated a “market outperform” rating and set a $47.00 target price on shares of DigitalOcean in a research note on Thursday, March 21st. Barclays raised their price objective on shares of DigitalOcean from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Oppenheimer boosted their target price on shares of DigitalOcean from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Finally, Piper Sandler increased their price target on shares of DigitalOcean from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.78.

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).