Corient Private Wealth LLC Boosts Stake in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Corient Private Wealth LLC lifted its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 11.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,988 shares of the company’s stock after acquiring an additional 1,257 shares during the quarter. Corient Private Wealth LLC’s holdings in DigitalOcean were worth $408,000 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. Oppenheimer & Co. Inc. purchased a new position in shares of DigitalOcean during the fourth quarter worth approximately $333,000. Illinois Municipal Retirement Fund purchased a new position in DigitalOcean in the 4th quarter worth $1,139,000. Bank of New York Mellon Corp lifted its stake in DigitalOcean by 19.7% in the fourth quarter. Bank of New York Mellon Corp now owns 791,861 shares of the company’s stock worth $26,979,000 after purchasing an additional 130,263 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in DigitalOcean by 13.5% in the third quarter. Public Sector Pension Investment Board now owns 134,214 shares of the company’s stock worth $5,421,000 after purchasing an additional 16,000 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in DigitalOcean during the fourth quarter valued at about $5,382,000. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on DOCN. UBS Group lifted their price objective on DigitalOcean from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. JMP Securities boosted their price objective on DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a research report on Monday, January 27th. Bank of America raised their target price on shares of DigitalOcean from $28.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of DigitalOcean in a report on Wednesday, February 26th. Finally, Cantor Fitzgerald raised their price target on shares of DigitalOcean from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $43.27.

DigitalOcean Trading Down 3.8 %

NYSE:DOCN opened at $34.17 on Friday. The company has a 50-day moving average price of $40.19 and a 200-day moving average price of $39.29. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 40.20, a P/E/G ratio of 3.12 and a beta of 1.80. DigitalOcean Holdings, Inc. has a 12 month low of $26.63 and a 12 month high of $47.02.

Insiders Place Their Bets

In other DigitalOcean news, insider Bratin Saha sold 3,948 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $36.63, for a total value of $144,615.24. Following the completion of the transaction, the insider now owns 358,696 shares in the company, valued at approximately $13,139,034.48. This represents a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.74% of the stock is currently owned by company insiders.

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).