DigitalOcean Holdings, Inc. $DOCN Shares Sold by Danske Bank A S

Danske Bank A S lowered its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 48.8% in the fourth quarter, HoldingsChannel reports. The fund owned 218,617 shares of the company’s stock after selling 208,245 shares during the quarter. Danske Bank A S’s holdings in DigitalOcean were worth $10,520,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DOCN. Alyeska Investment Group L.P. acquired a new position in shares of DigitalOcean during the 3rd quarter worth approximately $21,808,000. Vanguard Group Inc. raised its stake in shares of DigitalOcean by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 9,362,889 shares of the company’s stock worth $319,836,000 after buying an additional 442,617 shares during the period. Lazard Asset Management LLC raised its stake 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 period. Van Berkom & Associates Inc. raised its stake 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 worth $53,460,000 after buying an additional 389,161 shares during the period. Finally, Fund 1 Investments LLC acquired a new position in shares of DigitalOcean during the 3rd quarter worth approximately $13,011,000. 49.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOCN has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DigitalOcean in a research note on Friday, March 27th. Canaccord Genuity Group upped their price target on shares of DigitalOcean from $80.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup upped their price target on shares of DigitalOcean from $75.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Citizens Jmp upped their price target on shares of DigitalOcean from $83.00 to $105.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 26th. Finally, Oppenheimer upped their price target on shares of DigitalOcean from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, DigitalOcean has a consensus rating of “Moderate Buy” and a consensus target price of $91.08.

DigitalOcean Stock Performance

NYSE DOCN opened at $108.02 on Tuesday. The business has a fifty day moving average price of $77.95 and a 200 day moving average price of $59.86. DigitalOcean Holdings, Inc. has a one year low of $25.56 and a one year high of $109.13. The company has a market cap of $11.27 billion, a P/E ratio of 42.70 and a beta of 1.42.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, CAO Cherie Barrett sold 22,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were 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 represents a 26.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matt Steinfort sold 20,000 shares of the stock in a transaction dated 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 completion of 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 position. The disclosure for this sale is available in the SEC filing. 0.96% of the stock is currently owned by corporate insiders.

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.