DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Sells $132,408.24 in Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 3,468 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $38.18, for a total transaction of $132,408.24. Following the transaction, the insider now owns 379,795 shares in the company, valued at $14,500,573.10. This represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 transaction of $626,044.65.

DigitalOcean Trading Up 0.7 %

Shares of NYSE:DOCN opened at $35.70 on Friday. The stock has a 50 day moving average of $39.27 and a 200 day moving average of $37.27. The company has a market cap of $3.29 billion, a PE ratio of 42.00, a price-to-earnings-growth ratio of 2.47 and a beta of 1.76. DigitalOcean Holdings, Inc. has a 12-month low of $26.63 and a 12-month high of $44.80.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The business had revenue of $198.50 million during the quarter, compared to analyst estimates of $196.64 million. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Equities 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 research analysts have commented on DOCN shares. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Stifel Nicolaus raised their target price on DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Wednesday. Barclays upped their price target 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, Canaccord Genuity Group raised their price objective on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.13.

Hedge Funds Weigh In On DigitalOcean

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in DigitalOcean by 10.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,301,499 shares of the company’s stock valued at $52,568,000 after purchasing an additional 122,651 shares during the period. Franklin Resources Inc. raised its position in shares of DigitalOcean by 17.1% during the third quarter. Franklin Resources Inc. now owns 39,078 shares of the company’s stock valued at $1,714,000 after buying an additional 5,718 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of DigitalOcean in the third quarter worth $423,000. Geode Capital Management LLC boosted its position in shares of DigitalOcean by 7.9% during the third quarter. Geode Capital Management LLC now owns 1,464,333 shares of the company’s stock worth $59,156,000 after acquiring an additional 106,636 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in DigitalOcean by 3.6% during the third quarter. Stifel Financial Corp now owns 22,218 shares of the company’s stock valued at $897,000 after acquiring an additional 777 shares in the last quarter. Institutional investors own 49.77% of the company’s stock.

DigitalOcean Company Profile

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).