DigitalOcean Holdings, Inc. $DOCN Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lifted its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 158.9% in the third quarter, HoldingsChannel reports. The firm owned 199,600 shares of the company’s stock after buying an additional 122,500 shares during the period. Hillsdale Investment Management Inc.’s holdings in DigitalOcean were worth $6,818,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DOCN. Vanguard Group Inc. boosted its holdings in DigitalOcean by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 9,362,889 shares of the company’s stock valued at $319,836,000 after purchasing an additional 442,617 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of DigitalOcean by 34.5% during the 2nd quarter. Lazard Asset Management LLC now owns 1,660,731 shares of the company’s stock worth $47,430,000 after buying an additional 426,264 shares during the last quarter. Van Berkom & Associates Inc. raised its position in shares of DigitalOcean by 33.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,564,991 shares of the company’s stock valued at $53,460,000 after buying an additional 389,161 shares during the period. Norges Bank acquired a new position in DigitalOcean in the second quarter valued at approximately $22,633,000. Finally, Frontier Capital Management Co. LLC lifted its holdings in DigitalOcean by 75.9% in the second quarter. Frontier Capital Management Co. LLC now owns 706,227 shares of the company’s stock valued at $20,170,000 after acquiring an additional 304,805 shares during the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays raised their target price on DigitalOcean from $49.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Canaccord Genuity Group raised their price objective on DigitalOcean from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DigitalOcean in a research report on Monday, December 29th. Wall Street Zen lowered shares of DigitalOcean from a “buy” rating to a “hold” rating in a research note on Sunday, January 4th. Finally, Oppenheimer started coverage on shares of DigitalOcean in a research report on Monday, November 10th. They set an “outperform” rating and a $60.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.92.

DigitalOcean Price Performance

Shares of DigitalOcean stock opened at $63.52 on Friday. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 8.94 and a beta of 1.77. The business has a 50-day moving average of $55.15 and a 200 day moving average of $44.69. DigitalOcean Holdings, Inc. has a 12 month low of $25.45 and a 12 month high of $70.43.

DigitalOcean 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.