Insider Selling: DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Sells 4,289 Shares of Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 4,289 shares of DigitalOcean 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 completion of the sale, the insider now owns 372,762 shares in the company, valued at $13,717,641.60. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, December 18th, Bratin Saha sold 3,468 shares of DigitalOcean stock. The stock was 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 value of $626,044.65.

DigitalOcean Price Performance

NYSE DOCN traded up $0.97 on Wednesday, reaching $38.23. The company had a trading volume of 1,155,697 shares, compared to its average volume of 852,937. DigitalOcean Holdings, Inc. has a fifty-two week low of $26.63 and a fifty-two week high of $44.80. The business has a 50 day moving average of $36.76 and a two-hundred day moving average of $37.24. 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 (NYSE:DOCN) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. The company had revenue of $198.50 million for the quarter, compared to the consensus estimate of $196.64 million. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. As a group, research analysts predict that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DOCN shares. Canaccord Genuity Group boosted their target price on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Morgan Stanley upgraded DigitalOcean from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $41.00 in a research note on Thursday, January 16th. Stifel Nicolaus upped their price objective on DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Barclays boosted their target price on shares of DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of DigitalOcean from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, DigitalOcean presently has an average rating of “Hold” and an average target price of $41.70.

Institutional Trading of DigitalOcean

Several large investors have recently made changes to their positions in the company. Cherry Creek Investment Advisors Inc. raised its stake in shares of DigitalOcean by 17.3% in the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 12,745 shares of the company’s stock worth $434,000 after purchasing an additional 1,880 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in DigitalOcean by 33.1% during the 4th quarter. Pacer Advisors Inc. now owns 5,712 shares of the company’s stock worth $195,000 after acquiring an additional 1,419 shares during the last quarter. KBC Group NV lifted 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. Harbor Investment Advisory LLC boosted its holdings in DigitalOcean by 380.0% during 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 last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in DigitalOcean by 20.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,845 shares of the company’s stock worth $404,000 after purchasing an additional 1,990 shares in the last quarter. 49.77% of the stock is currently owned by institutional investors and hedge funds.

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).