Synergy Financial Group LTD Cuts Stake in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Synergy Financial Group LTD lessened its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCNFree Report) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,532 shares of the company’s stock after selling 599 shares during the quarter. Synergy Financial Group LTD’s holdings in DigitalOcean were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new position in shares of DigitalOcean in the third quarter worth approximately $30,000. Advisors Asset Management Inc. raised its stake in shares of DigitalOcean by 150.4% during the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock valued at $39,000 after acquiring an additional 585 shares during the last quarter. Blue Trust Inc. grew its stake in shares of DigitalOcean by 380.6% in the third quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $49,000 after purchasing an additional 959 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in DigitalOcean by 56.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock valued at $54,000 after purchasing an additional 483 shares during the period. Finally, KBC Group NV raised its position in DigitalOcean by 47.6% during the 3rd quarter. KBC Group NV now owns 2,096 shares of the company’s stock valued at $85,000 after purchasing an additional 676 shares during the last quarter. 49.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DOCN has been the topic of several research analyst reports. Barclays boosted their target price on DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased 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. Finally, Canaccord Genuity Group lifted their price objective on DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.50.

Check Out Our Latest Report on DOCN

Insider Buying and Selling

In other DigitalOcean news, insider Bratin Saha sold 16,989 shares of DigitalOcean 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 transaction, the insider now directly owns 390,296 shares of the company’s stock, valued at approximately $14,382,407.60. The trade was 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 link. Also, CFO Matt Steinfort sold 12,498 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total transaction of $499,920.00. Following the sale, the chief financial officer now owns 517,498 shares in the company, valued at approximately $20,699,920. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

DigitalOcean Stock Performance

DOCN stock opened at $39.04 on Tuesday. The firm has a 50 day moving average price of $40.04 and a 200-day moving average price of $37.23. DigitalOcean Holdings, Inc. has a 52-week low of $26.63 and a 52-week high of $44.80. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 2.58 and a beta of 1.76.

DigitalOcean (NYSE:DOCNGet Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.52 earnings per share (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 business had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $196.64 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

DigitalOcean Profile

(Free Report)

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).

Read More

Institutional Ownership by Quarter for DigitalOcean (NYSE:DOCN)

Receive News & Ratings for DigitalOcean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DigitalOcean and related companies with MarketBeat.com's FREE daily email newsletter.