Universal Beteiligungs und Servicegesellschaft mbH Has $3.05 Million Stock Holdings in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH raised its stake in DigitalOcean (NYSE: DOCN) by 141.6% in Q4, acquiring an additional 37,028 shares to hold 63,171 shares worth $3.045 million (about 0.07% of the company).
• Multiple analysts have increased price targets (including Citigroup to $115 and Bank of America to $107), and DigitalOcean has a consensus rating of "Moderate Buy" with a consensus price target of $88.00.
• Insider selling occurred in March: CAO Cherie Barrett sold 22,000 shares and CFO Matt Steinfort sold 20,000 shares (total proceeds ~ $2.3 million), leaving insiders with about 0.96% ownership.

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 141.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,171 shares of the company's stock after acquiring an additional 37,028 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.07% of DigitalOcean worth $3,045,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DOCN. Allworth Financial LP raised its position in shares of DigitalOcean by 54.4% in the 3rd quarter. Allworth Financial LP now owns 724 shares of the company's stock valued at $25,000 after acquiring an additional 255 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of DigitalOcean in the 3rd quarter valued at approximately $37,000. Advisory Services Network LLC acquired a new stake in shares of DigitalOcean in the 3rd quarter valued at approximately $54,000. GAMMA Investing LLC raised its position in shares of DigitalOcean by 33.8% in the 4th quarter. GAMMA Investing LLC now owns 1,581 shares of the company's stock valued at $76,000 after acquiring an additional 399 shares during the period. Finally, Ninepoint Partners LP acquired a new stake in shares of DigitalOcean in the 3rd quarter valued at approximately $77,000. 49.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald increased their price target on shares of DigitalOcean from $68.00 to $83.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Citizens Jmp increased their target price on DigitalOcean from $83.00 to $105.00 and gave the stock a "market outperform" rating in a research note on Thursday, March 26th. Bank of America increased their target price on DigitalOcean from $103.00 to $107.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Citigroup increased their target price on DigitalOcean from $75.00 to $115.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Piper Sandler increased their target price on DigitalOcean from $67.00 to $98.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, DigitalOcean presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Insider Activity at DigitalOcean

In other news, CAO Cherie Barrett sold 22,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $3,421,427.13. This trade represents a 26.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matt Steinfort sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $55.40, for a total transaction of $1,108,000.00. Following the transaction, the chief financial officer directly 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. 0.96% of the stock is owned by company insiders.

DigitalOcean Stock Performance

NYSE DOCN opened at $96.41 on Friday. The business has a 50 day simple moving average of $77.95 and a 200 day simple 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 stock has a market cap of $10.06 billion, a price-to-earnings ratio of 38.11 and a beta of 1.43.

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.

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