Swiss National Bank Has $4.32 Million Stock Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

Swiss National Bank lifted its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 126,700 shares of the company’s stock after buying an additional 11,100 shares during the period. Swiss National Bank owned about 0.14% of DigitalOcean worth $4,317,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DOCN. Harbor Investment Advisory LLC grew its position in DigitalOcean by 380.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock worth $25,000 after acquiring an additional 570 shares during the last quarter. 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 worth $39,000 after purchasing an additional 585 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in shares of DigitalOcean in the fourth quarter valued at approximately $45,000. SBI Securities Co. Ltd. bought a new position in DigitalOcean in the 4th quarter valued at approximately $66,000. Finally, FSA Wealth Management LLC acquired a new stake in DigitalOcean during the 3rd quarter worth approximately $85,000. 49.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Bratin Saha sold 3,948 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $36.63, for a total transaction of $144,615.24. Following the completion of the sale, the insider now directly owns 358,696 shares of the company’s stock, valued at $13,139,034.48. The trade was a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.74% of the stock is owned by company insiders.

DigitalOcean Stock Up 0.2 %

NYSE:DOCN opened at $37.94 on Wednesday. The company has a fifty day moving average of $40.17 and a 200-day moving average of $39.35. The firm has a market capitalization of $3.49 billion, a P/E ratio of 44.64, a P/E/G ratio of 3.12 and a beta of 1.80. DigitalOcean Holdings, Inc. has a twelve month low of $26.63 and a twelve month high of $47.02.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley upgraded shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $41.00 in a research report on Thursday, January 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research report on Wednesday, February 26th. The Goldman Sachs Group reiterated a “buy” rating on shares of DigitalOcean in a research report on Saturday, March 1st. Stifel Nicolaus raised their price objective on DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Finally, JMP Securities upped their target price on DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $43.27.

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).