Insider Selling: DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Sells 3,948 Shares of Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 3,948 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was 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 in the company, valued at approximately $13,139,034.48. This trade represents a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Bratin Saha also recently made the following trade(s):

• On Tuesday, January 21st, Bratin Saha sold 4,289 shares of DigitalOcean stock. The stock was sold at an average price of $36.80, for a total value of $157,835.20.

DigitalOcean Stock Up 1.7 %

Shares of DOCN stock opened at $36.41 on Thursday. DigitalOcean Holdings, Inc. has a 12-month low of $26.63 and a 12-month high of $47.02. The company has a market capitalization of $3.35 billion, a P/E ratio of 42.83, a P/E/G ratio of 3.12 and a beta of 1.80. The firm has a 50-day moving average price of $39.91 and a 200 day moving average price of $39.30.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DOCN shares. JPMorgan Chase & Co. lifted their price objective on DigitalOcean from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Cantor Fitzgerald lifted their price objective on DigitalOcean from $39.00 to $43.00 and gave the stock a “neutral” rating 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. Morgan Stanley upgraded DigitalOcean from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $41.00 in a research report on Thursday, January 16th. Finally, Citigroup assumed coverage on DigitalOcean in a research report on Friday, January 24th. They issued a “buy” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.27.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. lifted its position in shares of DigitalOcean by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 84,500 shares of the company’s stock worth $2,879,000 after purchasing an additional 300 shares in the last quarter. Focus Partners Wealth lifted its position in shares of DigitalOcean by 2.8% in the fourth quarter. Focus Partners Wealth now owns 12,455 shares of the company’s stock worth $424,000 after purchasing an additional 338 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of DigitalOcean by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,866 shares of the company’s stock worth $234,000 after purchasing an additional 436 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in shares of DigitalOcean by 380.0% in 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 in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of DigitalOcean by 150.4% in 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 in the last quarter. Institutional investors own 49.77% of the company’s stock.

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).