BI Asset Management Fondsmaeglerselskab A S Invests $1.99 Million in DigitalOcean Holdings, Inc. (NYSE:DOCN)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 58,501 shares of the company's stock, valued at approximately $1,993,000. BI Asset Management Fondsmaeglerselskab A S owned 0.06% of DigitalOcean as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DOCN. Hillsdale Investment Management Inc. raised its position in shares of DigitalOcean by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 84,500 shares of the company's stock worth $2,879,000 after purchasing an additional 300 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of DigitalOcean by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,866 shares of the company's stock worth $234,000 after purchasing an additional 436 shares during the last quarter. Harbor Investment Advisory LLC raised its position in DigitalOcean by 380.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company's stock worth $25,000 after buying an additional 570 shares during the last quarter. BSW Wealth Partners raised its position in DigitalOcean by 4.3% in the 4th quarter. BSW Wealth Partners now owns 14,556 shares of the company's stock worth $496,000 after buying an additional 600 shares during the last quarter. Finally, Stifel Financial Corp raised its position in DigitalOcean by 3.6% in the 3rd quarter. Stifel Financial Corp now owns 22,218 shares of the company's stock worth $897,000 after buying an additional 777 shares during the last quarter. Hedge funds and other institutional investors own 49.77% of the company's stock.

Insider Activity at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,948 shares of DigitalOcean stock in a transaction on Tuesday, March 18th. The shares were 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 directly owns 358,696 shares of the company's stock, valued at $13,139,034.48. This trade represents a 1.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.74% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stifel Nicolaus decreased their target price on DigitalOcean from $40.00 to $33.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Citigroup assumed coverage on DigitalOcean in a research report on Friday, January 24th. They issued a "buy" rating and a $45.00 target price for the company. JPMorgan Chase & Co. boosted their target price on DigitalOcean from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Bank of America boosted their target price on DigitalOcean from $28.00 to $31.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group lowered their price objective on shares of DigitalOcean from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, DigitalOcean currently has an average rating of "Hold" and a consensus target price of $41.27.

DigitalOcean Trading Up 2.8 %

DOCN traded up $0.84 during trading on Friday, hitting $30.79. 837,240 shares of the company traded hands, compared to its average volume of 1,303,729. The company has a market cap of $2.83 billion, a PE ratio of 36.22, a P/E/G ratio of 3.12 and a beta of 1.87. The stock's 50-day simple moving average is $34.42 and its two-hundred day simple moving average is $37.43. DigitalOcean Holdings, Inc. has a 1 year low of $25.45 and a 1 year high of $47.02.

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).