Toth Financial Advisory Corp Has $274,000 Position in DigitalOcean Holdings, Inc. $DOCN

Toth Financial Advisory Corp boosted its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 5,600.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,700 shares of the company’s stock after buying an additional 5,600 shares during the quarter. Toth Financial Advisory Corp’s holdings in DigitalOcean were worth $274,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DOCN. Lodestone Wealth Management LLC acquired a new position in shares of DigitalOcean during the fourth quarter valued at $303,000. Allspring Global Investments Holdings LLC increased its position in DigitalOcean by 25.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 377,178 shares of the company’s stock worth $18,470,000 after purchasing an additional 76,879 shares during the period. SeaCrest Wealth Management LLC bought a new stake in DigitalOcean during the 4th quarter worth about $432,000. Congress Asset Management Co. raised its holdings in DigitalOcean by 3.0% during the 4th quarter. Congress Asset Management Co. now owns 136,069 shares of the company’s stock worth $6,548,000 after purchasing an additional 3,909 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in DigitalOcean by 266.1% during the 4th quarter. SG Americas Securities LLC now owns 167,126 shares of the company’s stock valued at $8,042,000 after purchasing an additional 121,473 shares during the period. 49.77% of the stock is currently owned by institutional investors.

Insider Activity at DigitalOcean

In other DigitalOcean news, CAO Cherie Barrett sold 22,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $54.77, for a total value of $1,204,940.00. Following the sale, the chief accounting officer owned 62,469 shares in the company, valued at approximately $3,421,427.13. The trade was a 26.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matt Steinfort sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $55.40, for a total value of $1,108,000.00. Following the transaction, the chief financial officer directly owned 545,916 shares of the company’s stock, valued at approximately $30,243,746.40. This trade represents a 3.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DOCN shares. Royal Bank Of Canada set a $60.00 price target on shares of DigitalOcean in a research report on Tuesday, February 24th. UBS Group increased their price objective on shares of DigitalOcean from $48.00 to $68.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Cantor Fitzgerald raised their price objective on shares of DigitalOcean from $68.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Citizens Jmp upped their target price on shares of DigitalOcean from $83.00 to $105.00 and gave the company a “market outperform” rating in a research report on Thursday, March 26th. Finally, The Goldman Sachs Group increased their price target on DigitalOcean from $50.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.08.

DigitalOcean Price Performance

DOCN opened at $90.03 on Friday. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 35.59 and a beta of 1.43. The business’s 50-day moving average price is $67.83 and its two-hundred day moving average price is $52.84. DigitalOcean Holdings, Inc. has a 1 year low of $25.45 and a 1 year high of $91.53.

About DigitalOcean

DigitalOcean Holdings, Inc is a cloud infrastructure provider that focuses on simplicity, performance and developer experience. The company offers a range of cloud services designed to help software developers, startups and small- to medium-sized businesses deploy, manage and scale applications. Its flagship offering, Droplets, provides virtual private servers that can be configured with various CPU, memory and storage options. In addition to compute instances, DigitalOcean’s platform includes managed Kubernetes, scalable object and block storage, managed databases, load balancers and networking capabilities such as Virtual Private Cloud (VPC) and Floating IPs.

Founded in 2011 and headquartered in New York City, DigitalOcean was created with the goal of making cloud computing more accessible to individual developers and smaller teams.