Prosperity Wealth Management Inc. bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,520 shares of the company's stock, valued at approximately $324,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Investment Advisory LLC lifted its stake in shares of DigitalOcean by 380.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company's stock valued at $25,000 after acquiring an additional 570 shares during the last quarter. Farther Finance Advisors LLC bought a new position in DigitalOcean during the 3rd quarter valued at approximately $30,000. Advisors Asset Management Inc. raised its position in DigitalOcean by 150.4% during the 3rd 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. JTC Employer Solutions Trustee Ltd bought a new position in DigitalOcean during the 4th quarter valued at approximately $45,000. Finally, SBI Securities Co. Ltd. bought a new position in DigitalOcean during the 4th quarter valued at approximately $66,000. Institutional investors own 49.77% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on DigitalOcean from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a research report on Wednesday, February 26th. Morgan Stanley raised DigitalOcean from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $40.00 to $41.00 in a research report on Thursday, January 16th. Cantor Fitzgerald upped their price target on DigitalOcean from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, Bank of America increased their target price on DigitalOcean from $28.00 to $31.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $43.27.
Read Our Latest Stock Report on DigitalOcean
DigitalOcean Trading Up 2.3 %
DOCN traded up $0.80 during trading on Friday, hitting $36.12. 1,183,774 shares of the company's stock traded hands, compared to its average volume of 1,207,127. The company's 50 day simple moving average is $39.83 and its two-hundred day simple moving average is $39.32. DigitalOcean Holdings, Inc. has a 12-month low of $26.63 and a 12-month high of $47.02. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 42.49, a PEG ratio of 3.12 and a beta of 1.80.
Insider Buying and Selling at DigitalOcean
In other news, insider Bratin Saha sold 3,468 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $38.18, for a total transaction of $132,408.24. Following the transaction, the insider now directly owns 379,795 shares of the company's stock, valued at $14,500,573.10. This represents a 0.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.74% of the company's stock.
About DigitalOcean
(
Free Report)
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).
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