Vima LLC Makes New $1.13 Million Investment in DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Vima LLC purchased a new stake in DigitalOcean Holdings, Inc. (NASDAQ:DOCN) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 30,710 shares of the company’s stock, valued at approximately $1,127,000. DigitalOcean comprises 2.5% of Vima LLC’s investment portfolio, making the stock its 7th biggest position.

Other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of DigitalOcean by 1.1% in the third quarter. Rhumbline Advisers now owns 89,640 shares of the company’s stock valued at $2,154,000 after buying an additional 1,017 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of DigitalOcean by 7.4% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 26,654 shares of the company’s stock valued at $640,000 after purchasing an additional 1,832 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of DigitalOcean by 111.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 182,048 shares of the company’s stock worth $4,375,000 after purchasing an additional 95,917 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of DigitalOcean by 95.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 57,400 shares of the company’s stock valued at $1,379,000 after purchasing an additional 28,001 shares during the period. Finally, Insigneo Advisory Services LLC grew its holdings in DigitalOcean by 11.3% during the 3rd quarter. Insigneo Advisory Services LLC now owns 11,052 shares of the company’s stock valued at $266,000 after purchasing an additional 1,119 shares in the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Amy Butte sold 5,220 shares of DigitalOcean stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $37.46, for a total transaction of $195,541.20. Following the sale, the director now owns 36,417 shares of the company’s stock, valued at approximately $1,364,180.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.74% of the stock is owned by company insiders.

DigitalOcean Stock Performance

Shares of DOCN traded down $1.33 during trading hours on Friday, hitting $35.03. 1,306,769 shares of the company were exchanged, compared to its average volume of 996,748. The company has a market cap of $3.19 billion, a PE ratio of 66.10, a PEG ratio of 3.43 and a beta of 1.85. The firm’s 50 day moving average is $35.76 and its 200-day moving average is $36.18. DigitalOcean Holdings, Inc. has a 52 week low of $19.39 and a 52 week high of $51.69.

DigitalOcean (NASDAQ:DOCN) last announced its earnings results on Friday, May 10th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. DigitalOcean had a negative return on equity of 26.29% and a net margin of 7.01%. The firm had revenue of $184.73 million during the quarter, compared to analysts’ expectations of $182.70 million. As a group, equities analysts forecast that DigitalOcean Holdings, Inc. will post 0.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DOCN shares. Canaccord Genuity Group lifted their target price on DigitalOcean from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. JMP Securities restated a “market outperform” rating and set a $47.00 price objective on shares of DigitalOcean in a report on Monday, May 13th. Oppenheimer increased their target price on DigitalOcean from $37.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. UBS Group began coverage on shares of DigitalOcean in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $40.00 price target for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DigitalOcean in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, DigitalOcean has an average rating of “Hold” and a consensus target price of $38.00.

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).