Sei Investments Co. Buys 129,595 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Sei Investments Co. raised its position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 274.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,813 shares of the company's stock after buying an additional 129,595 shares during the quarter. Sei Investments Co. owned about 0.19% of DigitalOcean worth $6,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC raised its position in DigitalOcean by 43.7% during the fourth quarter. Intech Investment Management LLC now owns 24,774 shares of the company's stock valued at $844,000 after purchasing an additional 7,534 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of DigitalOcean in the 4th quarter valued at $209,000. Corient Private Wealth LLC raised its holdings in shares of DigitalOcean by 11.7% during the 4th quarter. Corient Private Wealth LLC now owns 11,988 shares of the company's stock worth $408,000 after buying an additional 1,257 shares in the last quarter. Swiss National Bank lifted its position in shares of DigitalOcean by 9.6% during the 4th quarter. Swiss National Bank now owns 126,700 shares of the company's stock worth $4,317,000 after buying an additional 11,100 shares during the last quarter. Finally, Prosperity Wealth Management Inc. acquired a new stake in DigitalOcean in the fourth quarter valued at about $324,000. Institutional investors own 49.77% of the company's stock.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,948 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $36.63, for a total transaction of $144,615.24. Following the sale, the insider now owns 358,696 shares of the company's stock, valued at approximately $13,139,034.48. This represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.74% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have commented on DOCN shares. Cantor Fitzgerald boosted their target price on DigitalOcean from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Bank of America upped their price objective on shares of DigitalOcean from $28.00 to $31.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their target price on shares of DigitalOcean from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group reiterated a "buy" rating on shares of DigitalOcean in a report on Saturday, March 1st. Finally, Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, DigitalOcean presently has an average rating of "Hold" and a consensus target price of $43.27.

DigitalOcean Stock Performance

Shares of DOCN traded down $2.59 during mid-day trading on Friday, reaching $28.64. 3,024,874 shares of the company were exchanged, compared to its average volume of 1,291,535. The business has a 50 day simple moving average of $39.86 and a two-hundred day simple moving average of $39.11. The stock has a market capitalization of $2.64 billion, a PE ratio of 33.69, a PEG 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 Company 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).