Swiss National Bank Acquires 11,100 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Swiss National Bank grew its position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,700 shares of the company's stock after buying an additional 11,100 shares during the period. Swiss National Bank owned 0.14% of DigitalOcean worth $4,317,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its holdings in shares of DigitalOcean by 32.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,397,588 shares of the company's stock valued at $56,449,000 after acquiring an additional 345,119 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in DigitalOcean during the fourth quarter worth $5,382,000. Bank of New York Mellon Corp increased 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 acquiring an additional 130,263 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of DigitalOcean by 10.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,301,499 shares of the company's stock worth $52,568,000 after purchasing an additional 122,651 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in DigitalOcean by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,464,333 shares of the company's stock worth $59,156,000 after purchasing an additional 106,636 shares in the last quarter. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, insider Bratin Saha sold 3,948 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $36.63, for a total transaction of $144,615.24. Following the transaction, the insider now directly owns 358,696 shares of the company's stock, valued at approximately $13,139,034.48. This represents a 1.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is owned by corporate insiders.

DigitalOcean Trading Down 3.8 %

Shares of NYSE:DOCN traded down $1.36 during trading on Friday, reaching $34.17. 1,409,276 shares of the stock were exchanged, compared to its average volume of 1,241,513. The firm has a market cap of $3.15 billion, a PE ratio of 40.20, a PEG ratio of 3.12 and a beta of 1.80. The stock has a 50-day moving average price of $40.19 and a 200-day moving average price of $39.29. DigitalOcean Holdings, Inc. has a 12 month low of $26.63 and a 12 month high of $47.02.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DOCN shares. Morgan Stanley upgraded shares of DigitalOcean from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $40.00 to $41.00 in a research note on Thursday, January 16th. Citigroup initiated coverage on shares of DigitalOcean in a report on Friday, January 24th. They set a "buy" rating and a $45.00 price objective for the company. Stifel Nicolaus boosted their price target on DigitalOcean from $35.00 to $40.00 and gave the company a "hold" rating in a report on Wednesday, December 18th. JMP Securities increased their target price on DigitalOcean from $47.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Monday, January 27th. Finally, UBS Group lifted their price objective on shares of DigitalOcean from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. One 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 data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $43.27.

About DigitalOcean

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).