Toth Financial Advisory Corp Buys 5,600 Shares of DigitalOcean Holdings, Inc. $DOCN

Toth Financial Advisory Corp grew its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 5,600.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,700 shares of the company’s stock after purchasing an additional 5,600 shares during the quarter. Toth Financial Advisory Corp’s holdings in DigitalOcean were worth $274,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new position in shares of DigitalOcean in the fourth quarter valued at $303,000. Allspring Global Investments Holdings LLC grew its position in shares of DigitalOcean by 25.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 377,178 shares of the company’s stock valued at $18,470,000 after acquiring an additional 76,879 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of DigitalOcean during the 4th quarter worth about $432,000. Congress Asset Management Co. increased its stake in shares of DigitalOcean by 3.0% during the 4th quarter. Congress Asset Management Co. now owns 136,069 shares of the company’s stock worth $6,548,000 after purchasing an additional 3,909 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of DigitalOcean by 266.1% in the 4th quarter. SG Americas Securities LLC now owns 167,126 shares of the company’s stock valued at $8,042,000 after purchasing an additional 121,473 shares during the period. Institutional investors and hedge funds own 49.77% of the company’s stock.

Analyst Upgrades and Downgrades

DOCN has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $60.00 price target on DigitalOcean in a research report on Tuesday, February 24th. Oppenheimer raised their price objective on DigitalOcean from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. Piper Sandler reissued a “neutral” rating and set a $67.00 target price on shares of DigitalOcean in a report on Tuesday, February 24th. Bank of America lifted their price objective on shares of DigitalOcean from $72.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, UBS Group increased their price objective on shares of DigitalOcean from $48.00 to $68.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, DigitalOcean currently has an average rating of “Moderate Buy” and a consensus target price of $72.08.

Insider Transactions at DigitalOcean

In other DigitalOcean news, CFO Matt Steinfort sold 20,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $55.40, for a total transaction of $1,108,000.00. Following the sale, the chief financial officer owned 545,916 shares of the company’s stock, valued at approximately $30,243,746.40. The trade was a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Cherie Barrett sold 22,000 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $54.77, for a total transaction of $1,204,940.00. Following the transaction, the chief accounting officer owned 62,469 shares of the company’s stock, valued at $3,421,427.13. This trade represents a 26.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.96% of the company’s stock.

DigitalOcean Price Performance

NYSE DOCN opened at $90.03 on Friday. DigitalOcean Holdings, Inc. has a fifty-two week low of $25.45 and a fifty-two week high of $91.53. The business has a fifty day moving average price of $67.83 and a two-hundred day moving average price of $52.84. The stock has a market capitalization of $8.28 billion, a PE ratio of 35.59 and a beta of 1.43.

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.