DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Sells $92,962.46 in Stock

by · The Cerbat Gem

DigitalOcean Holdings, Inc. (NYSE:DOCN – Get Free Report) insider Bratin Saha sold 3,461 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $26.86, for a total value of $92,962.46. Following the completion of the sale, the insider now directly owns 394,367 shares of the company’s stock, valued at $10,592,697.62. The trade was a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Tuesday, March 18th, Bratin Saha sold 3,948 shares of DigitalOcean stock. The stock was sold at an average price of $36.63, for a total value of $144,615.24.
  • On Tuesday, January 21st, Bratin Saha sold 4,289 shares of DigitalOcean stock. The shares were sold at an average price of $36.80, for a total transaction of $157,835.20.

DigitalOcean Price Performance

Shares of NYSE:DOCN traded down $1.42 during trading on Monday, reaching $25.96. 995,381 shares of the company’s stock traded hands, compared to its average volume of 1,297,745. The company has a 50 day moving average of $36.12 and a 200-day moving average of $37.93. DigitalOcean Holdings, Inc. has a 12 month low of $25.45 and a 12 month high of $47.02. The stock has a market capitalization of $2.38 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 3.12 and a beta of 1.87.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of DigitalOcean from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. The Goldman Sachs Group restated a “buy” rating on shares of DigitalOcean in a research note on Saturday, March 1st. Citigroup initiated coverage on DigitalOcean in a research note on Friday, January 24th. They issued a “buy” rating and a $45.00 price target on the stock. Barclays lowered their price objective on DigitalOcean from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday. Finally, JMP Securities upped their target price on DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.27.

View Our Latest Stock Report on DOCN

Institutional Trading of DigitalOcean

Hedge funds have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. raised its stake in DigitalOcean by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 84,500 shares of the company’s stock valued at $2,879,000 after purchasing an additional 300 shares during the period. Focus Partners Wealth grew its holdings in shares of DigitalOcean by 2.8% during the fourth quarter. Focus Partners Wealth now owns 12,455 shares of the company’s stock valued at $424,000 after buying an additional 338 shares in the last quarter. Summit Investment Advisors Inc. raised its position in DigitalOcean by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,866 shares of the company’s stock valued at $234,000 after buying an additional 436 shares during the period. Harbor Investment Advisory LLC lifted its stake in DigitalOcean by 380.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock worth $25,000 after acquiring an additional 570 shares in the last quarter. Finally, BSW Wealth Partners boosted its position in DigitalOcean by 4.3% during the 4th quarter. BSW Wealth Partners now owns 14,556 shares of the company’s stock worth $496,000 after acquiring an additional 600 shares during the period. Institutional investors own 49.77% of the company’s stock.

DigitalOcean Company Profile

(Get Free Report)

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).

Featured Articles