DigitalOcean Holdings, Inc. (NYSE:DOCN) Shares Sold by Clay Northam Wealth Management LLC

Clay Northam Wealth Management LLC lessened its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,662 shares of the company’s stock after selling 325 shares during the quarter. Clay Northam Wealth Management LLC’s holdings in DigitalOcean were worth $806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sei Investments Co. raised its holdings in shares of DigitalOcean by 1.5% during the 2nd quarter. Sei Investments Co. now owns 30,834 shares of the company’s stock worth $1,071,000 after acquiring an additional 468 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of DigitalOcean by 56.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock worth $54,000 after acquiring an additional 483 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in shares of DigitalOcean by 17.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 3,744 shares of the company’s stock worth $151,000 after acquiring an additional 566 shares during the period. Harbor Investment Advisory LLC raised its holdings 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 buying an additional 570 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in DigitalOcean by 150.4% in 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 during the period. Institutional investors and hedge funds own 49.77% of the company’s stock.

Insiders Place Their Bets

In related news, insider Bratin Saha sold 16,989 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $626,044.65. Following the transaction, the insider now directly owns 390,296 shares of the company’s stock, valued at approximately $14,382,407.60. The trade was a 4.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Matt Steinfort sold 12,498 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $40.00, for a total value of $499,920.00. Following the completion of the transaction, the chief financial officer now directly owns 517,498 shares in the company, valued at approximately $20,699,920. The trade was a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,244 shares of company stock valued at $1,416,208. Insiders own 0.74% of the company’s stock.

DigitalOcean Stock Performance

NYSE:DOCN opened at $40.23 on Tuesday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 47.33, a PEG ratio of 3.01 and a beta of 1.78. DigitalOcean Holdings, Inc. has a 1 year low of $26.63 and a 1 year high of $44.80. The stock has a fifty day moving average price of $37.19 and a two-hundred day moving average price of $37.69.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Cantor Fitzgerald assumed coverage on shares of DigitalOcean in a research note on Friday, January 17th. They set a “neutral” rating and a $39.00 price target on the stock. Citigroup assumed coverage on shares of DigitalOcean in a research note on Friday, January 24th. They set a “buy” rating and a $45.00 price target on the stock. Barclays boosted their price target on shares of DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Morgan Stanley raised DigitalOcean from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $41.00 in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, DigitalOcean has an average rating of “Moderate Buy” and an average target price of $42.73.

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).