AlphaQuest LLC grew its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 332.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,881 shares of the company's stock after buying an additional 10,674 shares during the period. AlphaQuest LLC's holdings in DigitalOcean were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of DigitalOcean by 7.2% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,453 shares of the company's stock worth $581,000 after acquiring an additional 1,040 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of DigitalOcean in the 4th quarter worth about $2,970,000. Arizona State Retirement System lifted its holdings in shares of DigitalOcean by 9.7% in the 4th quarter. Arizona State Retirement System now owns 18,702 shares of the company's stock worth $637,000 after acquiring an additional 1,653 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of DigitalOcean by 3.5% in the 4th quarter. Victory Capital Management Inc. now owns 32,264 shares of the company's stock worth $1,099,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of DigitalOcean by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 583,920 shares of the company's stock worth $19,894,000 after acquiring an additional 18,157 shares during the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.
DigitalOcean Stock Performance
NYSE DOCN opened at $36.09 on Thursday. The company's 50-day simple moving average is $39.80 and its two-hundred day simple moving average is $39.34. DigitalOcean Holdings, Inc. has a one year low of $26.63 and a one year high of $47.02. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 3.12 and a beta of 1.80.
Insider Transactions at DigitalOcean
In other news, insider Bratin Saha sold 4,289 shares of DigitalOcean stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total value of $157,835.20. Following the transaction, the insider now owns 372,762 shares of the company's stock, valued at $13,717,641.60. The trade was a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.74% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on DOCN shares. UBS Group raised their target price on shares of DigitalOcean from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of DigitalOcean in a report on Wednesday, February 26th. JMP Securities lifted their price objective on shares of DigitalOcean from $47.00 to $55.00 and gave the company a "market outperform" rating in a report on Monday, January 27th. The Goldman Sachs Group reiterated a "buy" rating on shares of DigitalOcean in a report on Saturday, March 1st. Finally, Morgan Stanley upgraded shares of DigitalOcean from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $40.00 to $41.00 in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $43.27.
Get Our Latest Stock Report on DigitalOcean
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).
See Also
Want to see what other hedge funds are holding DOCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider DigitalOcean, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DigitalOcean wasn't on the list.
While DigitalOcean currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
