DigitalOcean Holdings, Inc. (NYSE:DOCN) Stake Lessened by Focused Wealth Management Inc

Focused Wealth Management Inc reduced its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 43.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,406 shares of the company's stock after selling 6,517 shares during the quarter. Focused Wealth Management Inc's holdings in DigitalOcean were worth $286,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Versor Investments LP acquired a new stake in shares of DigitalOcean during the 3rd quarter valued at $751,000. FORA Capital LLC bought a new position in shares of DigitalOcean in the 3rd quarter worth $1,149,000. Victory Capital Management Inc. raised its stake in shares of DigitalOcean by 79.8% in the third quarter. Victory Capital Management Inc. now owns 31,169 shares of the company's stock worth $1,259,000 after purchasing an additional 13,837 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in DigitalOcean by 13.5% during the third quarter. Public Sector Pension Investment Board now owns 134,214 shares of the company's stock worth $5,421,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in DigitalOcean by 32.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,397,588 shares of the company's stock valued at $56,449,000 after purchasing an additional 345,119 shares during the period. 49.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Matt Steinfort sold 12,498 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total value of $499,920.00. Following the completion of the sale, the chief financial officer now owns 517,498 shares of the company's stock, valued at $20,699,920. This represents a 2.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bratin Saha sold 4,289 shares of DigitalOcean stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total transaction of $157,835.20. Following the sale, the insider now owns 372,762 shares of the company's stock, valued at approximately $13,717,641.60. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,244 shares of company stock valued at $1,416,208. Insiders own 0.74% of the company's stock.

DigitalOcean Price Performance

NYSE DOCN traded up $0.09 during midday trading on Wednesday, hitting $45.33. 777,133 shares of the company traded hands, compared to its average volume of 1,099,675. The company has a market cap of $4.18 billion, a PE ratio of 53.33, a price-to-earnings-growth ratio of 3.19 and a beta of 1.81. The company's 50-day simple moving average is $37.95 and its 200-day simple moving average is $38.24. DigitalOcean Holdings, Inc. has a 52 week low of $26.63 and a 52 week high of $46.46.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of DigitalOcean in a research report on Friday, January 24th. They issued a "buy" rating and a $45.00 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on shares of DigitalOcean from $35.00 to $40.00 and gave the stock a "hold" rating in a report on Wednesday, December 18th. JMP Securities boosted their price objective on DigitalOcean from $47.00 to $55.00 and gave the company a "market outperform" rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on DigitalOcean from $32.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, DigitalOcean has a consensus rating of "Moderate Buy" and an average price target of $42.73.

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).