Belpointe Asset Management LLC Has $304,000 Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Belpointe Asset Management LLC raised its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 12.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,113 shares of the company’s stock after buying an additional 915 shares during the quarter. Belpointe Asset Management LLC’s holdings in DigitalOcean were worth $304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC grew its holdings in shares of DigitalOcean by 380.0% during 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 in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in DigitalOcean in the 4th quarter worth about $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of DigitalOcean during the 4th quarter worth about $66,000. KBC Group NV raised its stake in shares of DigitalOcean by 37.6% during the 4th quarter. KBC Group NV now owns 2,884 shares of the company’s stock worth $98,000 after purchasing an additional 788 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of DigitalOcean during the 4th quarter valued at about $115,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DOCN. UBS Group raised 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. Citigroup started coverage on shares of DigitalOcean in a research note on Friday, January 24th. They issued a “buy” rating and a $45.00 price objective for the company. Morgan Stanley lowered their target price on shares of DigitalOcean from $52.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday. JMP Securities boosted their price target 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, Canaccord Genuity Group lowered their price objective on DigitalOcean from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, DigitalOcean currently has an average rating of “Hold” and an average target price of $42.18.

DigitalOcean Stock Down 1.0 %

Shares of NYSE DOCN opened at $27.81 on Thursday. The business’s 50 day moving average is $36.85 and its two-hundred day moving average is $38.12. The company has a market cap of $2.56 billion, a P/E ratio of 32.72, a P/E/G ratio of 3.12 and a beta of 1.87. DigitalOcean Holdings, Inc. has a 12 month low of $25.45 and a 12 month high of $47.02.

Insider Activity at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 4,289 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $36.80, for a total value of $157,835.20. Following the completion of the transaction, the insider now owns 372,762 shares of the company’s stock, valued at $13,717,641.60. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.74% of the company’s stock.

DigitalOcean 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).