BI Asset Management Fondsmaeglerselskab A S Acquires Shares of 58,501 DigitalOcean Holdings, Inc. (NYSE:DOCN)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 58,501 shares of the company's stock, valued at approximately $1,993,000. BI Asset Management Fondsmaeglerselskab A S owned about 0.06% of DigitalOcean as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DOCN. Hillsdale Investment Management Inc. increased its position in DigitalOcean by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 84,500 shares of the company's stock valued at $2,879,000 after purchasing an additional 300 shares during the period. Summit Investment Advisors Inc. increased its position in shares of DigitalOcean by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,866 shares of the company's stock valued at $234,000 after buying an additional 436 shares during the period. Harbor Investment Advisory LLC raised its stake in DigitalOcean by 380.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 720 shares of the company's stock worth $25,000 after buying an additional 570 shares in the last quarter. BSW Wealth Partners boosted its position in DigitalOcean by 4.3% during the 4th quarter. BSW Wealth Partners now owns 14,556 shares of the company's stock valued at $496,000 after acquiring an additional 600 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of DigitalOcean by 3.6% during the 3rd quarter. Stifel Financial Corp now owns 22,218 shares of the company's stock worth $897,000 after acquiring an additional 777 shares during the period. Hedge funds and other institutional investors own 49.77% of the company's stock.

DigitalOcean Stock Up 2.8 %

DOCN traded up $0.84 on Friday, hitting $30.79. The company had a trading volume of 837,240 shares, compared to its average volume of 1,300,256. DigitalOcean Holdings, Inc. has a 12-month low of $25.45 and a 12-month high of $47.02. The business's fifty day simple moving average is $34.73 and its 200 day simple moving average is $37.59. The company has a market cap of $2.83 billion, a PE ratio of 36.22, a PEG ratio of 3.12 and a beta of 1.87.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DOCN shares. Bank of America upped their target price on shares of DigitalOcean from $28.00 to $31.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 26th. JMP Securities raised their target price on shares of DigitalOcean from $47.00 to $55.00 and gave the company a "market outperform" rating in a research note on Monday, January 27th. UBS Group boosted their price target on DigitalOcean from $39.00 to $44.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on DigitalOcean from $40.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $41.27.

Insider Transactions at DigitalOcean

In related news, insider Bratin Saha sold 3,461 shares of DigitalOcean stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $26.86, for a total transaction of $92,962.46. Following the completion of the transaction, the insider now directly owns 394,367 shares of the company's stock, valued at approximately $10,592,697.62. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.74% of the company's stock.

About DigitalOcean

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).