Universal Beteiligungs und Servicegesellschaft mbH Acquires 37,028 Shares of DigitalOcean Holdings, Inc. $DOCN

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 141.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,171 shares of the company’s stock after acquiring an additional 37,028 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in DigitalOcean were worth $3,045,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DOCN. Bullseye Asset Management LLC grew its stake in DigitalOcean by 267.8% in the 3rd quarter. Bullseye Asset Management LLC now owns 99,300 shares of the company’s stock worth $3,392,000 after buying an additional 72,300 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of DigitalOcean by 39.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 300,299 shares of the company’s stock worth $10,772,000 after acquiring an additional 84,816 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of DigitalOcean by 27.2% in the 3rd quarter. Penserra Capital Management LLC now owns 293,132 shares of the company’s stock worth $10,013,000 after acquiring an additional 62,725 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of DigitalOcean in the 3rd quarter worth approximately $8,951,000. Finally, Van Berkom & Associates Inc. lifted its holdings in shares of DigitalOcean by 33.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,564,991 shares of the company’s stock worth $53,460,000 after acquiring an additional 389,161 shares during the last quarter. 49.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Cherie Barrett sold 22,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $54.77, for a total transaction of $1,204,940.00. Following the completion of the sale, the chief accounting officer directly owned 62,469 shares in the company, valued at $3,421,427.13. This represents a 26.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matt Steinfort sold 20,000 shares of the company’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 $30,243,746.40. This represents a 3.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.96% of the company’s stock.

DigitalOcean Stock Down 0.5%

NYSE:DOCN opened at $96.41 on Friday. The company has a fifty day moving average of $77.95 and a 200 day moving average of $59.59. DigitalOcean Holdings, Inc. has a 52 week low of $25.56 and a 52 week high of $99.23. The firm has a market capitalization of $10.06 billion, a P/E ratio of 38.11 and a beta of 1.43.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of DigitalOcean from $50.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Royal Bank Of Canada set a $60.00 price objective on shares of DigitalOcean in a report on Tuesday, February 24th. Cantor Fitzgerald boosted their price objective on shares of DigitalOcean from $68.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Citizens Jmp boosted their price objective on shares of DigitalOcean from $83.00 to $105.00 and gave the stock a “market outperform” rating in a report on Thursday, March 26th. Finally, Citigroup boosted their price objective on shares of DigitalOcean from $75.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.00.

About DigitalOcean

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.