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

Van Berkom & Associates Inc. decreased its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,152,031 shares of the company’s stock after selling 133,666 shares during the quarter. Van Berkom & Associates Inc.’s holdings in DigitalOcean were worth $39,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of DOCN. Harbor Investment Advisory LLC grew its position 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 period. Farther Finance Advisors LLC bought a new position in shares of DigitalOcean in the third quarter valued at $30,000. Advisors Asset Management Inc. grew 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 valued at $39,000 after buying an additional 585 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in shares of DigitalOcean during the fourth quarter worth about $45,000. Finally, Blue Trust Inc. raised its holdings in shares of DigitalOcean by 380.6% in the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $49,000 after acquiring an additional 959 shares during the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DOCN. Stifel Nicolaus lifted their price target on DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. JMP Securities lifted their target price on DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Morgan Stanley raised shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $41.00 in a report on Thursday, January 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, DigitalOcean presently has an average rating of “Moderate Buy” and a consensus target price of $42.73.

DigitalOcean Stock Performance

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

Insiders Place Their Bets

In related news, CFO Matt Steinfort sold 12,498 shares of the 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 of the company’s stock, valued at approximately $20,699,920. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bratin Saha sold 4,289 shares of the firm’s 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 transaction, the insider now directly owns 372,762 shares in the company, valued at $13,717,641.60. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,255 shares of company stock worth $790,163 over the last quarter. 0.74% of the stock is currently owned by company insiders.

DigitalOcean 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).