DigitalOcean Holdings, Inc. $DOCN Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 266.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,126 shares of the company’s stock after purchasing an additional 121,473 shares during the quarter. SG Americas Securities LLC owned about 0.18% of DigitalOcean worth $8,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its stake in DigitalOcean by 54.4% in the third quarter. Allworth Financial LP now owns 724 shares of the company’s stock valued at $25,000 after purchasing an additional 255 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in DigitalOcean in the 3rd quarter worth about $37,000. Advisory Services Network LLC purchased a new stake in DigitalOcean in the 3rd quarter valued at about $54,000. Advisors Asset Management Inc. grew its holdings in DigitalOcean by 18.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,630 shares of the company’s stock valued at $75,000 after buying an additional 401 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of DigitalOcean by 33.8% during the 4th quarter. GAMMA Investing LLC now owns 1,581 shares of the company’s stock valued at $76,000 after acquiring an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Analyst Ratings Changes

DOCN has been the topic of several research analyst reports. Barclays raised their target price on shares of DigitalOcean from $63.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Citigroup reaffirmed a “buy” rating on shares of DigitalOcean in a research report on Friday, February 13th. Cantor Fitzgerald increased their price target on shares of DigitalOcean from $68.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Oppenheimer boosted their price objective on shares of DigitalOcean from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, March 18th. Finally, UBS Group upped their price objective on DigitalOcean from $48.00 to $68.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.08.

Insider Activity

In other news, CAO Cherie Barrett sold 22,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $54.77, for a total value of $1,204,940.00. Following the completion of the sale, the chief accounting officer owned 62,469 shares in the company, valued at approximately $3,421,427.13. This trade represents a 26.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matt Steinfort sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $55.40, for a total value of $1,108,000.00. Following the transaction, the chief financial officer directly owned 545,916 shares in the company, valued at $30,243,746.40. This trade represents a 3.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.74% of the company’s stock.

DigitalOcean Trading Down 3.9%

NYSE:DOCN opened at $78.25 on Tuesday. The firm’s fifty day simple moving average is $64.94 and its 200 day simple moving average is $51.49. DigitalOcean Holdings, Inc. has a twelve month low of $25.45 and a twelve month high of $88.84. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 30.93 and a beta of 1.76.

DigitalOcean Company Profile

DigitalOcean Holdings, Inc is a cloud infrastructure provider that focuses on simplicity, performance and developer experience. The company offers a range of cloud services designed to help software developers, startups and small- to medium-sized businesses deploy, manage and scale applications. Its flagship offering, Droplets, provides virtual private servers that can be configured with various CPU, memory and storage options. In addition to compute instances, DigitalOcean’s platform includes managed Kubernetes, scalable object and block storage, managed databases, load balancers and networking capabilities such as Virtual Private Cloud (VPC) and Floating IPs.

Founded in 2011 and headquartered in New York City, DigitalOcean was created with the goal of making cloud computing more accessible to individual developers and smaller teams.