262,029 Shares in DigitalOcean Holdings, Inc. $DOCN Bought by Segall Bryant & Hamill LLC

Key Points

• Segall Bryant & Hamill LLC bought 262,029 shares of DigitalOcean (DOCN) in Q3, a stake worth about $8.95 million, representing roughly 0.29% of the company.
• Other institutions made sizable moves: Vanguard added 442,617 shares to hold 9,362,889 shares (~$319.8M), Norges Bank opened a new ~$22.6 million position, and institutional investors now own about 49.77% of DOCN.
• Company insiders have been selling recently — CFO Matt Steinfort sold 20,000 shares and CAO Cherie Barrett sold 22,000 shares — leaving insiders with about 0.96% ownership.

Segall Bryant & Hamill LLC purchased a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 262,029 shares of the company's stock, valued at approximately $8,951,000. Segall Bryant & Hamill LLC owned about 0.29% of DigitalOcean at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of DigitalOcean in the second quarter worth approximately $22,633,000. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 442,617 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of DigitalOcean by 34.5% in the 2nd quarter. Lazard Asset Management LLC now owns 1,660,731 shares of the company's stock worth $47,430,000 after purchasing an additional 426,264 shares during the period. Van Berkom & Associates Inc. boosted its stake 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 valued at $53,460,000 after purchasing an additional 389,161 shares during the last quarter. Finally, Mizuho Markets Americas LLC acquired a new stake in shares of DigitalOcean during the third quarter worth $12,122,000. Institutional investors and hedge funds own 49.77% of the company's stock.

Insider Buying and Selling

In other DigitalOcean news, 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 transaction, the chief financial officer owned 545,916 shares in the company, valued at approximately $30,243,746.40. This represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Cherie Barrett sold 22,000 shares of the firm'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 transaction, the chief accounting officer directly owned 62,469 shares in the company, valued at $3,421,427.13. This trade represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.96% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DOCN shares. Citigroup restated a "buy" rating on shares of DigitalOcean in a report on Friday, February 13th. Piper Sandler reissued a "neutral" rating and issued a $67.00 price objective on shares of DigitalOcean in a research note on Tuesday, February 24th. Wall Street Zen lowered DigitalOcean from a "buy" rating to a "hold" rating in a research report on Sunday, January 4th. UBS Group raised their target price on DigitalOcean from $48.00 to $68.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of DigitalOcean in a research note on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.23.

DigitalOcean Price Performance

DOCN stock opened at $52.27 on Thursday. The company's 50-day moving average is $56.79 and its 200-day moving average is $46.10. The stock has a market capitalization of $4.81 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 53.84 and a beta of 1.76. DigitalOcean Holdings, Inc. has a 1 year low of $25.45 and a 1 year high of $70.43.

DigitalOcean Company 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.

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