54,699 Shares in DigitalOcean Holdings, Inc. (NYSE:DOCN) Bought by Sincerus Advisory LLC

Sincerus Advisory LLC acquired a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the fourth quarter, Holdings Channel reports. The fund acquired 54,699 shares of the company’s stock, valued at approximately $1,864,000. DigitalOcean comprises about 2.0% of Sincerus Advisory LLC’s portfolio, making the stock its 12th biggest position.

Several other hedge funds also recently added to or reduced their stakes in DOCN. Harbor Investment Advisory LLC lifted its stake in DigitalOcean by 380.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock worth $25,000 after purchasing an additional 570 shares during the last quarter. Farther Finance Advisors LLC bought a new position in DigitalOcean in the 3rd quarter worth about $30,000. Advisors Asset Management Inc. increased its stake in shares of DigitalOcean by 150.4% in the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock valued at $39,000 after purchasing an additional 585 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new position in shares of DigitalOcean during the fourth quarter worth approximately $45,000. Finally, Blue Trust Inc. raised its stake in DigitalOcean by 380.6% during the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock valued at $49,000 after acquiring an additional 959 shares in the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DigitalOcean

In related news, CFO Matt Steinfort sold 12,498 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total value of $499,920.00. Following the completion of 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 SEC, which is accessible through this hyperlink. Also, insider Bratin Saha sold 3,468 shares of DigitalOcean stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $38.18, for a total value of $132,408.24. Following the transaction, the insider now owns 379,795 shares in the company, valued at $14,500,573.10. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,255 shares of company stock valued at $790,163 in the last three months. 0.74% of the stock is currently owned by corporate insiders.

DigitalOcean Stock Performance

DigitalOcean stock opened at $40.66 on Wednesday. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 47.83, a price-to-earnings-growth ratio of 3.12 and a beta of 1.81. DigitalOcean Holdings, Inc. has a 1 year low of $26.63 and a 1 year high of $47.02. The firm’s 50 day moving average price is $38.70 and its two-hundred day moving average price is $39.10.

Analyst Ratings Changes

A number of brokerages have recently commented on DOCN. JMP Securities raised their price target on DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a report on Monday, January 27th. Cantor Fitzgerald initiated coverage on shares of DigitalOcean in a research note on Friday, January 17th. They set a “neutral” rating and a $39.00 target price on the stock. Stifel Nicolaus upped their price target on shares of DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Citigroup began coverage on shares of DigitalOcean in a research note on Friday, January 24th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, DigitalOcean presently has a consensus rating of “Hold” and a consensus price target of $42.40.

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).