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 firm’s stock in a transaction dated Tuesday, January 21st. The stock was 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 transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $36.85, for a total value of $626,044.65.

DigitalOcean Stock Up 3.6 %

NYSE:DOCN opened at $40.14 on Friday. The firm has a market capitalization of $3.70 billion, a P/E ratio of 47.22, a P/E/G ratio of 2.77 and a beta of 1.78. The company has a fifty day moving average of $36.84 and a 200 day moving average of $37.30. DigitalOcean Holdings, Inc. has a 52 week low of $26.63 and a 52 week high of $44.80.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The firm had revenue of $198.50 million for the quarter, compared to analyst estimates of $196.64 million. During the same period last year, the company earned $0.17 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on DOCN shares. Barclays increased their target price on shares of DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Canaccord Genuity Group boosted their price objective on shares of DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Citigroup started coverage on shares of DigitalOcean in a report on Friday. They issued a “buy” rating and a $45.00 price target for the company. Finally, Cantor Fitzgerald began coverage on shares of DigitalOcean in a report on Friday, January 17th. They issued a “neutral” rating and a $39.00 price target on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Institutional Investors Weigh In On DigitalOcean

Institutional investors and hedge funds have recently modified their holdings of the stock. BSW Wealth Partners raised its stake in DigitalOcean by 4.3% in the fourth quarter. BSW Wealth Partners now owns 14,556 shares of the company’s stock worth $496,000 after buying an additional 600 shares in the last quarter. Cherry Creek Investment Advisors Inc. raised its position in shares of DigitalOcean by 17.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 12,745 shares of the company’s stock worth $434,000 after acquiring an additional 1,880 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of DigitalOcean by 33.1% in the 4th quarter. Pacer Advisors Inc. now owns 5,712 shares of the company’s stock valued at $195,000 after purchasing an additional 1,419 shares during the period. KBC Group NV boosted its position in shares of DigitalOcean by 37.6% during the fourth quarter. KBC Group NV now owns 2,884 shares of the company’s stock valued at $98,000 after purchasing an additional 788 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its stake 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 purchasing an additional 570 shares during the period. 49.77% of the stock is owned by hedge funds and other institutional investors.

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).