Mutual of America Capital Management LLC Grows Stock Holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Mutual of America Capital Management LLC grew its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 7.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,516 shares of the company’s stock after purchasing an additional 683 shares during the quarter. Mutual of America Capital Management LLC’s holdings in DigitalOcean were worth $384,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in DigitalOcean during the third quarter worth about $30,000. Blue Trust Inc. increased its position in DigitalOcean by 380.6% during the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $49,000 after purchasing an additional 959 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in DigitalOcean by 56.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock valued at $54,000 after buying an additional 483 shares during the period. KBC Group NV lifted its position in DigitalOcean by 47.6% during the third quarter. KBC Group NV now owns 2,096 shares of the company’s stock valued at $85,000 after buying an additional 676 shares in the last quarter. Finally, Quest Partners LLC grew its stake in DigitalOcean by 11,041.9% during the second quarter. Quest Partners LLC now owns 3,454 shares of the company’s stock worth $120,000 after buying an additional 3,423 shares during the period. Institutional investors and hedge funds own 49.77% of the company’s stock.

DigitalOcean Stock Down 2.1 %

DOCN stock opened at $37.88 on Thursday. The company has a market capitalization of $3.50 billion, a P/E ratio of 44.56, a PEG ratio of 2.54 and a beta of 1.83. The company has a 50-day simple moving average of $40.48 and a 200 day simple 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.

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. 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 analyst estimates of $196.64 million. During the same period in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

DOCN has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research report on Tuesday, November 5th. Barclays increased their target price on shares of DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. 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 note on Friday, August 9th. Finally, Canaccord Genuity Group increased their price target on DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.50.

Insider Buying and Selling at DigitalOcean

In related news, insider Bratin Saha sold 16,989 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $36.85, for a total value of $626,044.65. Following the sale, the insider now directly owns 390,296 shares in the company, valued at $14,382,407.60. The trade was a 4.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is currently owned by corporate 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).