Insider Selling: DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Sells 3,948 Shares of Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 3,948 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $36.63, for a total value of $144,615.24. Following the completion of the sale, the insider now directly owns 358,696 shares in the company, valued at $13,139,034.48. This represents a 1.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, January 21st, Bratin Saha sold 4,289 shares of DigitalOcean stock. The stock was sold at an average price of $36.80, for a total value of $157,835.20.

DigitalOcean Trading Up 0.4 %

DOCN stock opened at $36.56 on Friday. DigitalOcean Holdings, Inc. has a 1-year low of $26.63 and a 1-year high of $47.02. The firm has a market cap of $3.37 billion, a P/E ratio of 43.01, a P/E/G ratio of 3.12 and a beta of 1.80. The business’s 50 day moving average is $39.95 and its 200-day moving average is $39.29.

Analyst Ratings Changes

DOCN has been the topic of a number of research analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of DigitalOcean in a report on Saturday, March 1st. Bank of America lifted their price target on DigitalOcean from $28.00 to $31.00 and gave the company an “underperform” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their target price on DigitalOcean from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Citigroup assumed coverage on DigitalOcean in a research note on Friday, January 24th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Stifel Nicolaus boosted their price target on DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.27.

Institutional Investors Weigh In On DigitalOcean

Large investors have recently modified their holdings of the stock. Harbor Investment Advisory LLC grew its stake in shares of 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 purchasing an additional 570 shares during the period. Advisors Asset Management Inc. grew its stake in shares of 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 purchasing an additional 585 shares during the period. JTC Employer Solutions Trustee Ltd bought a new stake in shares of DigitalOcean in the 4th quarter valued at approximately $45,000. SBI Securities Co. Ltd. bought a new stake in DigitalOcean during the 4th quarter worth approximately $66,000. Finally, KBC Group NV grew its position in DigitalOcean by 47.6% during the 3rd quarter. KBC Group NV now owns 2,096 shares of the company’s stock worth $85,000 after acquiring an additional 676 shares during the last quarter. 49.77% of the stock is currently owned by institutional investors.

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).