DigitalOcean Holdings, Inc. (NYSE:DOCN) Shares Acquired by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,453 shares of the company’s stock after purchasing an additional 1,040 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in DigitalOcean were worth $581,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. increased its position in DigitalOcean by 32.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,397,588 shares of the company’s stock worth $56,449,000 after purchasing an additional 345,119 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of DigitalOcean during the fourth quarter worth about $5,382,000. Bank of New York Mellon Corp grew its position in DigitalOcean by 19.7% in the fourth quarter. Bank of New York Mellon Corp now owns 791,861 shares of the company’s stock valued at $26,979,000 after acquiring an additional 130,263 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of DigitalOcean by 10.4% during the third quarter. Principal Financial Group Inc. now owns 1,301,499 shares of the company’s stock worth $52,568,000 after purchasing an additional 122,651 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of DigitalOcean by 7.9% in the third quarter. Geode Capital Management LLC now owns 1,464,333 shares of the company’s stock valued at $59,156,000 after purchasing an additional 106,636 shares during the period. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on DOCN. JMP Securities boosted their price objective on shares of DigitalOcean from $47.00 to $55.00 and gave the stock a “market outperform” rating in a report on Monday, January 27th. Citigroup began coverage on DigitalOcean in a report on Friday, January 24th. They set a “buy” rating and a $45.00 price objective on the stock. Bank of America raised their price target on shares of DigitalOcean from $28.00 to $31.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group lifted their price target on shares of DigitalOcean from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of DigitalOcean in a report on Saturday, March 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.27.

Insider Activity

In other news, insider Bratin Saha sold 3,468 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $38.18, for a total transaction of $132,408.24. Following the completion of the transaction, the insider now owns 379,795 shares of the company’s stock, valued at approximately $14,500,573.10. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.74% of the company’s stock.

DigitalOcean Stock Down 7.3 %

DOCN opened at $36.97 on Tuesday. The company’s 50-day moving average price is $39.71 and its 200 day moving average price is $39.38. DigitalOcean Holdings, Inc. has a fifty-two week low of $26.63 and a fifty-two week high of $47.02. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 43.49, a price-to-earnings-growth ratio of 3.12 and a beta of 1.80.

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).