Van Berkom & Associates Inc. Has $39.25 Million Stock Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Van Berkom & Associates Inc. decreased its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,152,031 shares of the company’s stock after selling 133,666 shares during the period. Van Berkom & Associates Inc. owned about 1.25% of DigitalOcean worth $39,250,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Harbor Investment Advisory LLC lifted its stake in DigitalOcean by 380.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock valued at $25,000 after purchasing an additional 570 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in shares of DigitalOcean during the third quarter worth $30,000. Advisors Asset Management Inc. increased its holdings in shares of DigitalOcean by 150.4% during the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock worth $39,000 after buying an additional 585 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of DigitalOcean in the 4th quarter valued at $45,000. Finally, Blue Trust Inc. boosted its holdings in shares of DigitalOcean by 380.6% during the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $49,000 after acquiring an additional 959 shares in the last quarter. Institutional investors and hedge funds own 49.77% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Matt Steinfort sold 12,498 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total transaction of $499,920.00. Following the transaction, the chief financial officer now owns 517,498 shares in the company, valued at $20,699,920. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bratin Saha sold 3,468 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $38.18, for a total transaction of $132,408.24. Following the transaction, the insider now directly owns 379,795 shares in the company, valued at approximately $14,500,573.10. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,255 shares of company stock worth $790,163. Company insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Cantor Fitzgerald initiated coverage on DigitalOcean in a report on Friday, January 17th. They issued a “neutral” rating and a $39.00 target price for the company. JPMorgan Chase & Co. upped their price objective on DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of DigitalOcean in a report on Tuesday, November 5th. Stifel Nicolaus boosted their target price on shares of DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Citigroup initiated coverage on shares of DigitalOcean in a research note on Friday, January 24th. They set a “buy” rating and a $45.00 price target for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.73.

DigitalOcean Stock Down 3.1 %

DOCN opened at $42.92 on Friday. The stock has a market cap of $3.96 billion, a PE ratio of 50.49, a price-to-earnings-growth ratio of 3.38 and a beta of 1.81. DigitalOcean Holdings, Inc. has a twelve month low of $26.63 and a twelve month high of $47.02. The company has a fifty day moving average of $38.63 and a 200-day moving average of $38.75.

DigitalOcean Company 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).