DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Bratin Saha Sells 3,948 Shares

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

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

• 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 value of $157,835.20.

DigitalOcean Stock Performance

DOCN stock opened at $36.76 on Friday. DigitalOcean Holdings, Inc. has a fifty-two week low of $26.63 and a fifty-two week high of $47.02. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 43.25, a price-to-earnings-growth ratio of 3.12 and a beta of 1.80. The business’s 50 day moving average price is $40.00 and its two-hundred day moving average price is $39.28.

Wall Street Analysts Forecast Growth

DOCN has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on DigitalOcean from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. JMP Securities upped their price target on shares of DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a report on Monday, January 27th. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research report on Wednesday, February 26th. Morgan Stanley upgraded shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $41.00 in a research report on Thursday, January 16th. Finally, UBS Group increased their target price on shares of DigitalOcean from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, DigitalOcean has a consensus rating of “Hold” and an average price target of $43.27.

Institutional Investors Weigh In On DigitalOcean

Several hedge funds have recently made changes to their positions in DOCN. Hillsdale Investment Management Inc. lifted its position in DigitalOcean by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 84,500 shares of the company’s stock valued at $2,879,000 after buying an additional 300 shares during the period. Focus Partners Wealth increased its stake in shares of DigitalOcean by 2.8% in the 4th quarter. Focus Partners Wealth now owns 12,455 shares of the company’s stock worth $424,000 after acquiring an additional 338 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of DigitalOcean by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,866 shares of the company’s stock worth $234,000 after acquiring an additional 436 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in DigitalOcean by 380.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock valued at $25,000 after acquiring an additional 570 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in DigitalOcean by 150.4% during the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock worth $39,000 after acquiring an additional 585 shares in 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).