Clay Northam Wealth Management LLC Sells 310 Shares of DigitalOcean Holdings, Inc. (NASDAQ:DOCN)

Clay Northam Wealth Management LLC reduced its position in DigitalOcean Holdings, Inc. (NASDAQ:DOCNFree Report) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,438 shares of the company’s stock after selling 310 shares during the quarter. DigitalOcean comprises about 0.9% of Clay Northam Wealth Management LLC’s holdings, making the stock its 19th biggest holding. Clay Northam Wealth Management LLC’s holdings in DigitalOcean were worth $970,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DOCN. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of DigitalOcean in the 3rd quarter worth approximately $41,000. Advisors Asset Management Inc. bought a new stake in shares of DigitalOcean in the 1st quarter worth approximately $42,000. Macquarie Group Ltd. lifted its holdings in shares of DigitalOcean by 48.1% in the 2nd quarter. Macquarie Group Ltd. now owns 1,747 shares of the company’s stock worth $72,000 after acquiring an additional 567 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of DigitalOcean by 253.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,258 shares of the company’s stock worth $72,000 after acquiring an additional 902 shares during the last quarter. Finally, State of Wyoming lifted its holdings in shares of DigitalOcean by 42.4% in the 2nd quarter. State of Wyoming now owns 1,988 shares of the company’s stock worth $80,000 after acquiring an additional 592 shares during the last quarter. 49.77% of the stock is currently owned by institutional investors.

DigitalOcean Price Performance

DOCN stock traded up $0.60 during trading on Thursday, hitting $37.34. 38,893 shares of the stock traded hands, compared to its average volume of 1,036,171. DigitalOcean Holdings, Inc. has a 1 year low of $19.39 and a 1 year high of $51.69. The firm’s 50 day moving average is $37.84 and its two-hundred day moving average is $31.99. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 3,677.18, a price-to-earnings-growth ratio of 3.19 and a beta of 1.80.

DigitalOcean (NASDAQ:DOCNGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.23. The firm had revenue of $180.87 million for the quarter, compared to the consensus estimate of $178.26 million. DigitalOcean had a net margin of 0.12% and a negative return on equity of 19.85%. As a group, analysts anticipate that DigitalOcean Holdings, Inc. will post 0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DOCN. Piper Sandler boosted their price objective on shares of DigitalOcean from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Barclays lifted their target price 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. JMP Securities reaffirmed a “market outperform” rating and issued a $47.00 target price on shares of DigitalOcean in a research note on Thursday, March 21st. Finally, Oppenheimer lifted their target price on shares of DigitalOcean from $37.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, DigitalOcean currently has a consensus rating of “Hold” and a consensus price target of $36.78.

Read Our Latest Stock Report on DigitalOcean

About DigitalOcean

(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).

Further Reading

Institutional Ownership by Quarter for DigitalOcean (NASDAQ:DOCN)

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