DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Sells $157,835.20 in Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 4,289 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total transaction of $157,835.20. Following the sale, the insider now owns 372,762 shares of the company’s stock, valued at $13,717,641.60. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, December 18th, Bratin Saha sold 3,468 shares of DigitalOcean stock. The shares were sold at an average price of $38.18, for a total transaction of $132,408.24.
• On Monday, November 18th, Bratin Saha sold 16,989 shares of DigitalOcean stock. The stock was sold at an average price of $36.85, for a total transaction of $626,044.65.

DigitalOcean Stock Performance

NYSE DOCN opened at $38.23 on Thursday. The company has a market capitalization of $3.53 billion, a PE ratio of 44.97, a price-to-earnings-growth ratio of 2.62 and a beta of 1.78. DigitalOcean Holdings, Inc. has a 52-week low of $26.63 and a 52-week high of $44.80. The company has a 50-day simple moving average of $36.77 and a 200 day simple moving average of $37.25.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The company had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $196.64 million. During the same quarter in the previous year, the firm posted $0.17 EPS. DigitalOcean’s revenue was up 12.1% on a year-over-year basis. As a group, analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC raised its stake in DigitalOcean by 380.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock valued at $25,000 after acquiring an additional 570 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of DigitalOcean in the third quarter valued at approximately $30,000. Advisors Asset Management Inc. lifted its stake in shares of DigitalOcean by 150.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock valued at $39,000 after buying an additional 585 shares in the last quarter. Blue Trust Inc. boosted its holdings in DigitalOcean by 380.6% in the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $49,000 after buying an additional 959 shares during the period. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in DigitalOcean in the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on DOCN shares. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a report on Tuesday, November 5th. Stifel Nicolaus increased their price target on DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley raised shares of 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 report on Thursday, January 16th. Canaccord Genuity Group increased their target price on shares of DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Cantor Fitzgerald assumed coverage on shares of DigitalOcean in a report on Friday, January 17th. They set a “neutral” rating and a $39.00 price target on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.70.

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).