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 dated Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total transaction of $157,835.20. Following the completion of the transaction, the insider now owns 372,762 shares in the company, valued at approximately $13,717,641.60. The trade was a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $132,408.24.
• On Monday, November 18th, Bratin Saha sold 16,989 shares of DigitalOcean stock. The shares were sold at an average price of $36.85, for a total transaction of $626,044.65.

DigitalOcean Price Performance

DigitalOcean stock traded up $0.97 during trading hours on Wednesday, reaching $38.23. The company had a trading volume of 1,155,697 shares, compared to its average volume of 852,937. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 44.97, a P/E/G ratio of 2.62 and a beta of 1.78. DigitalOcean Holdings, Inc. has a 12-month low of $26.63 and a 12-month high of $44.80. The company has a 50-day moving average price of $36.76 and a 200 day moving average price of $37.24.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DOCN. Harbor Investment Advisory LLC lifted its holdings in 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 buying an additional 570 shares during the period. Farther Finance Advisors LLC purchased a new stake in DigitalOcean in the third quarter worth $30,000. Advisors Asset Management Inc. lifted its position in DigitalOcean by 150.4% during the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock valued at $39,000 after buying an additional 585 shares during the period. Blue Trust Inc. boosted its holdings in shares of 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 buying an additional 959 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new stake in shares of DigitalOcean in the 4th quarter worth about $45,000. Institutional investors own 49.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price target on shares of DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald began coverage on DigitalOcean in a research report on Friday, January 17th. They issued a “neutral” rating and a $39.00 price objective on the stock. Canaccord Genuity Group raised their price target on DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Morgan Stanley raised shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $41.00 in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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).