Calamos Advisors LLC Purchases Shares of 26,720 DigitalOcean Holdings, Inc. $DOCN

Key Points

• Calamos Advisors LLC established a new position in DigitalOcean (DOCN) during Q4, purchasing 26,720 shares valued at about $1.29 million.
• Company insiders recently sold a combined 42,000 shares — CFO Matt Steinfort sold 20,000 at $55.40 and CAO Cherie Barrett sold 22,000 at $54.77 — generating roughly $2.31 million in proceeds and reducing their holdings.
• DOCN shares opened at $98.98 (near a 52‑week high of $99.23) with a market cap of $9.11 billion and a P/E of 39.12, and analysts have an average rating of "Moderate Buy" with an average target of about $81.08.

Calamos Advisors LLC acquired a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,720 shares of the company's stock, valued at approximately $1,286,000.

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of DigitalOcean during the 4th quarter valued at approximately $32,000. Allworth Financial LP boosted its holdings in DigitalOcean by 54.4% during the third quarter. Allworth Financial LP now owns 724 shares of the company's stock worth $25,000 after buying an additional 255 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in DigitalOcean during the third quarter valued at $37,000. GAMMA Investing LLC grew its position in DigitalOcean by 33.8% during the fourth quarter. GAMMA Investing LLC now owns 1,581 shares of the company's stock valued at $76,000 after buying an additional 399 shares during the period. Finally, Advisory Services Network LLC purchased a new position in DigitalOcean in the third quarter valued at $54,000. 49.77% of the stock is owned by hedge funds and other institutional investors.

DigitalOcean Stock Up 4.0%

NYSE:DOCN opened at $98.98 on Tuesday. DigitalOcean Holdings, Inc. has a 52 week low of $25.56 and a 52 week high of $99.23. The stock has a market capitalization of $9.11 billion, a PE ratio of 39.12 and a beta of 1.43. The stock's 50-day moving average price is $76.28 and its 200-day moving average price is $58.67.

Insider Transactions at DigitalOcean

In related news, CFO Matt Steinfort sold 20,000 shares of DigitalOcean stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $55.40, for a total value of $1,108,000.00. Following the sale, the chief financial officer directly owned 545,916 shares in the company, valued at approximately $30,243,746.40. The trade was a 3.53% decrease in their position. 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 DigitalOcean stock in a transaction dated Monday, March 2nd. The stock was 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. The trade was a 26.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on DOCN. Citigroup reiterated a "buy" rating on shares of DigitalOcean in a research report on Friday, February 13th. Weiss Ratings restated a "hold (c+)" rating on shares of DigitalOcean in a research report on Friday, March 27th. Piper Sandler raised their target price on DigitalOcean from $67.00 to $98.00 and gave the company a "neutral" rating in a research report on Tuesday, April 7th. Cantor Fitzgerald raised their target price on DigitalOcean from $68.00 to $83.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group raised their target price on DigitalOcean from $50.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $81.08.

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.

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