C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys New Shares in DigitalOcean Holdings, Inc. (NYSE:DOCN)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 157,971 shares of the company's stock, valued at approximately $5,382,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned about 0.17% of DigitalOcean at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Investment Advisory LLC lifted its holdings 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 during the period. Farther Finance Advisors LLC purchased a new position in shares of DigitalOcean during the third quarter valued at approximately $30,000. Advisors Asset Management Inc. lifted its holdings 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 purchasing an additional 585 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of DigitalOcean by 380.6% during the third quarter. Blue Trust Inc. now owns 1,211 shares of the company's stock valued at $49,000 after purchasing an additional 959 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in shares of DigitalOcean during the fourth quarter valued at approximately $45,000. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

DigitalOcean Stock Performance

Shares of DOCN stock traded down $3.70 during mid-day trading on Friday, reaching $39.35. 1,844,670 shares of the company's stock traded hands, compared to its average volume of 1,130,742. DigitalOcean Holdings, Inc. has a 12 month low of $26.63 and a 12 month high of $47.02. The firm has a 50 day moving average price of $38.66 and a two-hundred day moving average price of $38.83. The firm has a market capitalization of $3.63 billion, a PE ratio of 46.29, a price-to-earnings-growth ratio of 3.21 and a beta of 1.81.

Insider Activity

In other news, insider Bratin Saha sold 3,468 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $38.18, for a total transaction of $132,408.24. Following the completion of the sale, the insider now owns 379,795 shares of the company's stock, valued at $14,500,573.10. The trade was a 0.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Matt Steinfort sold 12,498 shares of the business's stock in a transaction 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 directly owns 517,498 shares of the company's stock, 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. Insiders sold a total of 20,255 shares of company stock valued at $790,163 in the last 90 days. Company insiders own 0.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DOCN shares. Morgan Stanley upgraded shares of DigitalOcean from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $40.00 to $41.00 in a report on Thursday, January 16th. Stifel Nicolaus lifted their target price on shares of DigitalOcean from $35.00 to $40.00 and gave the company a "hold" rating in a report on Wednesday, December 18th. JMP Securities lifted their target price 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. Cantor Fitzgerald started coverage on shares of DigitalOcean in a report on Friday, January 17th. They set a "neutral" rating and a $39.00 target price for the company. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DigitalOcean in a report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.73.

DigitalOcean Company 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).