C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $5.38 Million Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nisa Investment Advisors LLC raised its position in DigitalOcean by 56.4% during the third quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company's stock valued at $54,000 after purchasing an additional 483 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of DigitalOcean by 17.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,744 shares of the company's stock worth $151,000 after purchasing an additional 566 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of DigitalOcean by 380.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company's stock worth $25,000 after acquiring an additional 570 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of DigitalOcean by 150.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 974 shares of the company's stock worth $39,000 after acquiring an additional 585 shares during the last quarter. Finally, BSW Wealth Partners increased its stake in DigitalOcean by 4.3% in the 4th quarter. BSW Wealth Partners now owns 14,556 shares of the company's stock valued at $496,000 after buying an additional 600 shares during the last quarter. Institutional investors own 49.77% of the company's stock.

DigitalOcean Trading Down 2.9 %

DigitalOcean stock traded down $1.32 during midday trading on Friday, reaching $44.52. 885,841 shares of the stock traded hands, compared to its average volume of 1,145,288. DigitalOcean Holdings, Inc. has a fifty-two week low of $26.63 and a fifty-two week high of $46.46. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 52.38, a PEG ratio of 3.19 and a beta of 1.81. The firm has a fifty day moving average price of $38.17 and a two-hundred day moving average price of $38.42.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of DigitalOcean from $32.00 to $40.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Stifel Nicolaus boosted their price objective on shares of DigitalOcean from $35.00 to $40.00 and gave the company a "hold" rating in a research report on Wednesday, December 18th. Morgan Stanley raised shares of DigitalOcean from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $40.00 to $41.00 in a research note on Thursday, January 16th. Cantor Fitzgerald started coverage on shares of DigitalOcean in a research note on Friday, January 17th. They issued a "neutral" rating and a $39.00 target price on the stock. Finally, JMP Securities boosted 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. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, DigitalOcean currently has an average rating of "Moderate Buy" and an average target price of $42.73.

Insider Buying and Selling

In related news, insider Bratin Saha sold 4,289 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total transaction of $157,835.20. Following the completion of the transaction, the insider now directly owns 372,762 shares in the company, valued at $13,717,641.60. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matt Steinfort sold 12,498 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $40.00, for a total transaction of $499,920.00. Following the transaction, the chief financial officer now directly owns 517,498 shares of the company's stock, valued at $20,699,920. The trade was a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,244 shares of company stock worth $1,416,208 in the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

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).