Ieq Capital LLC Lowers Stake in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Ieq Capital LLC lessened its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 50.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,357 shares of the company’s stock after selling 35,980 shares during the period. Ieq Capital LLC’s holdings in DigitalOcean were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Versor Investments LP acquired a new stake in DigitalOcean in the 3rd quarter worth about $751,000. FORA Capital LLC acquired a new stake in shares of DigitalOcean in the third quarter worth approximately $1,149,000. Victory Capital Management Inc. increased its position in shares of DigitalOcean by 79.8% during the third quarter. Victory Capital Management Inc. now owns 31,169 shares of the company’s stock worth $1,259,000 after purchasing an additional 13,837 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in DigitalOcean by 13.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 134,214 shares of the company’s stock valued at $5,421,000 after purchasing an additional 16,000 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in DigitalOcean during the 4th quarter worth $5,382,000. Institutional investors and hedge funds own 49.77% of the company’s stock.

Analysts Set New Price Targets

DOCN has been the topic of several research reports. JMP Securities raised their price target on shares of DigitalOcean from $47.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Monday, January 27th. Stifel Nicolaus boosted their target price on DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a report on Tuesday, November 5th. Citigroup began coverage on DigitalOcean in a research report on Friday, January 24th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Cantor Fitzgerald assumed coverage on DigitalOcean in a report on Friday, January 17th. They issued a “neutral” rating and a $39.00 target price for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $42.40.

Insider Transactions at DigitalOcean

In related news, CFO Matt Steinfort sold 12,498 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $40.00, for a total transaction of $499,920.00. Following the completion of the transaction, the chief financial officer now directly owns 517,498 shares of the company’s stock, valued at $20,699,920. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bratin Saha sold 4,289 shares of DigitalOcean stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total value of $157,835.20. Following the completion of the transaction, the insider now owns 372,762 shares of the company’s stock, valued at $13,717,641.60. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,255 shares of company stock worth $790,163 over the last ninety days. Company insiders own 0.74% of the company’s stock.

DigitalOcean Stock Performance

Shares of DOCN stock opened at $37.18 on Tuesday. DigitalOcean Holdings, Inc. has a one year low of $26.63 and a one year high of $47.02. The firm’s 50 day moving average price is $38.64 and its 200-day moving average price is $39.05. The firm has a market cap of $3.43 billion, a P/E ratio of 43.74, a P/E/G ratio of 3.12 and a beta of 1.81.

About DigitalOcean

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).