CenterBook Partners LP Acquires New Holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN)

CenterBook Partners LP bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 224,030 shares of the company's stock, valued at approximately $7,633,000. CenterBook Partners LP owned approximately 0.24% of DigitalOcean as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of DOCN. Oppenheimer & Co. Inc. purchased a new stake in DigitalOcean during the fourth quarter valued at approximately $333,000. Illinois Municipal Retirement Fund bought a new position in shares of DigitalOcean during the 4th quarter valued at approximately $1,139,000. Bank of New York Mellon Corp raised its holdings in DigitalOcean by 19.7% during the 4th quarter. Bank of New York Mellon Corp now owns 791,861 shares of the company's stock valued at $26,979,000 after buying an additional 130,263 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in DigitalOcean in the fourth quarter worth $5,382,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in DigitalOcean by 29.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 96,306 shares of the company's stock worth $3,284,000 after buying an additional 22,100 shares during the period. Institutional investors own 49.77% of the company's stock.

DigitalOcean Price Performance

Shares of DOCN stock traded down $0.30 during mid-day trading on Monday, hitting $27.34. The stock had a trading volume of 447,426 shares, compared to its average volume of 1,289,608. DigitalOcean Holdings, Inc. has a 12-month low of $25.45 and a 12-month high of $47.02. The firm's 50-day moving average is $37.81 and its two-hundred day moving average is $38.36. The firm has a market capitalization of $2.52 billion, a P/E ratio of 32.16, a price-to-earnings-growth ratio of 3.12 and a beta of 1.87.

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Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DOCN. The Goldman Sachs Group reissued a "buy" rating on shares of DigitalOcean in a research note on Saturday, March 1st. Citigroup initiated coverage on shares of DigitalOcean in a research note on Friday, January 24th. They issued a "buy" rating and a $45.00 price objective for the company. Stifel Nicolaus cut their target price on DigitalOcean from $40.00 to $33.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. UBS Group raised their price target on DigitalOcean from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group cut their price objective on DigitalOcean from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. One research 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $42.18.

Insider Activity at DigitalOcean

In other news, insider Bratin Saha sold 4,289 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 372,762 shares in the company, valued at approximately $13,717,641.60. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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).