Knights of Columbus Asset Advisors LLC Purchases 6,092 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Knights of Columbus Asset Advisors LLC lifted its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,946 shares of the company’s stock after acquiring an additional 6,092 shares during the quarter. Knights of Columbus Asset Advisors LLC owned approximately 0.06% of DigitalOcean worth $1,872,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DOCN. Victory Capital Management Inc. grew its stake in shares of DigitalOcean by 79.8% in the 3rd quarter. Victory Capital Management Inc. now owns 31,169 shares of the company’s stock worth $1,259,000 after acquiring an additional 13,837 shares in the last quarter. KBC Group NV boosted its holdings in shares of DigitalOcean by 47.6% in the 3rd quarter. KBC Group NV now owns 2,096 shares of the company’s stock worth $85,000 after buying an additional 676 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of DigitalOcean by 8.2% in the 3rd quarter. Empowered Funds LLC now owns 9,245 shares of the company’s stock worth $373,000 after buying an additional 697 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of DigitalOcean by 7.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 9,516 shares of the company’s stock worth $384,000 after buying an additional 683 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of DigitalOcean by 11.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 49,687 shares of the company’s stock worth $2,007,000 after buying an additional 5,072 shares during the last quarter. Institutional investors own 49.77% of the company’s stock.

Insider Transactions at DigitalOcean

In other news, insider Bratin Saha sold 3,948 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $36.63, for a total value of $144,615.24. Following the sale, the insider now directly owns 358,696 shares of the company’s stock, valued at approximately $13,139,034.48. This represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DOCN. JPMorgan Chase & Co. boosted their price target on shares of DigitalOcean from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Morgan Stanley raised shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $41.00 in a report on Thursday, January 16th. Citigroup began coverage on shares of DigitalOcean in a report on Friday, January 24th. They issued a “buy” rating and a $45.00 price target on the stock. Stifel Nicolaus boosted their price target 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, Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $43.27.

DigitalOcean Trading Up 0.6 %

Shares of DigitalOcean stock opened at $36.76 on Friday. DigitalOcean Holdings, Inc. has a 12-month low of $26.63 and a 12-month high of $47.02. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 43.25, a PEG ratio of 3.12 and a beta of 1.80. The company’s 50-day moving average price is $40.00 and its 200-day moving average price is $39.31.

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).