Oppenheimer & Co. Inc. Takes $333,000 Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Oppenheimer & Co. Inc. bought a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,767 shares of the company's stock, valued at approximately $333,000.

Several other hedge funds have also bought and sold shares of the stock. Nisa Investment Advisors LLC lifted 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 during the last quarter. Harbor Investment Advisory LLC raised its stake in shares of DigitalOcean by 380.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 720 shares of the company's stock worth $25,000 after acquiring an additional 570 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of DigitalOcean by 150.4% during the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company's stock worth $39,000 after acquiring an additional 585 shares in the last quarter. BSW Wealth Partners raised its stake in shares of DigitalOcean by 4.3% during the fourth quarter. BSW Wealth Partners now owns 14,556 shares of the company's stock worth $496,000 after acquiring an additional 600 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of DigitalOcean by 47.6% during the third quarter. KBC Group NV now owns 2,096 shares of the company's stock worth $85,000 after acquiring an additional 676 shares in the last quarter. 49.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 4,289 shares of the business'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 transaction, the insider now directly owns 372,762 shares of the company's stock, valued at approximately $13,717,641.60. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.74% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have commented on DOCN. UBS Group lifted their price target on shares of DigitalOcean from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a research note on Wednesday, February 26th. Citigroup began coverage on shares of DigitalOcean in a research note on Friday, January 24th. They set a "buy" rating and a $45.00 price target on the stock. Bank of America lifted their price target on shares of DigitalOcean from $28.00 to $31.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 26th. Finally, Cantor Fitzgerald lifted their target price on shares of DigitalOcean from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $43.27.

DigitalOcean Price Performance

DigitalOcean stock traded down $2.92 during mid-day trading on Monday, reaching $36.97. 1,471,749 shares of the company traded hands, compared to its average volume of 1,335,728. The firm's 50 day moving average price is $39.71 and its 200 day moving average price is $39.38. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 43.49, a P/E/G ratio of 3.12 and a beta of 1.80. DigitalOcean Holdings, Inc. has a 52-week low of $26.63 and a 52-week high of $47.02.

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).