Creative Financial Designs Inc. ADV Sells 497 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Creative Financial Designs Inc. ADV lowered its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,247 shares of the company’s stock after selling 497 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in DigitalOcean were worth $111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Harbor Investment Advisory LLC boosted its position 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 period. Advisors Asset Management Inc. boosted its holdings in shares of DigitalOcean by 150.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock worth $39,000 after buying an additional 585 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new position in DigitalOcean in the 4th quarter valued at $45,000. SBI Securities Co. Ltd. bought a new position in DigitalOcean in the 4th quarter worth $66,000. Finally, KBC Group NV lifted its position in DigitalOcean by 47.6% during the 3rd quarter. KBC Group NV now owns 2,096 shares of the company’s stock worth $85,000 after acquiring an additional 676 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company’s stock.

DigitalOcean Stock Up 0.4 %

NYSE:DOCN opened at $36.56 on Friday. The firm has a market capitalization of $3.37 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 3.12 and a beta of 1.80. DigitalOcean Holdings, Inc. has a 12-month low of $26.63 and a 12-month high of $47.02. The firm has a 50-day moving average price of $39.95 and a 200 day moving average price of $39.29.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports 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 research report on Monday, January 27th. JPMorgan Chase & Co. raised their target price on DigitalOcean from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Morgan Stanley upgraded DigitalOcean from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $41.00 in a report on Thursday, January 16th. Cantor Fitzgerald raised their price objective on shares of DigitalOcean from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Citigroup assumed coverage on shares of DigitalOcean in a research note on Friday, January 24th. They set a “buy” rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $43.27.

Insider Activity

In other news, insider Bratin Saha sold 4,289 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total value of $157,835.20. Following the sale, the insider now owns 372,762 shares of the company’s stock, valued at approximately $13,717,641.60. This represents a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.74% of the company’s stock.

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).