Insider Selling: DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Sells 3,468 Shares of Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN - Get Free Report) insider Bratin Saha sold 3,468 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $38.18, for a total value of $132,408.24. Following the completion of the transaction, the insider now owns 379,795 shares of the company's stock, valued at $14,500,573.10. This represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 18th, Bratin Saha sold 16,989 shares of DigitalOcean stock. The stock was sold at an average price of $36.85, for a total value of $626,044.65.

DigitalOcean Stock Up 1.9 %

DOCN traded up $0.66 during midday trading on Thursday, reaching $35.45. The company had a trading volume of 974,842 shares, compared to its average volume of 1,208,141. The business has a 50-day moving average of $39.44 and a two-hundred day moving average of $37.27. DigitalOcean Holdings, Inc. has a 1 year low of $26.63 and a 1 year high of $44.80. The company has a market cap of $3.27 billion, a P/E ratio of 41.71, a P/E/G ratio of 2.47 and a beta of 1.76.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.12. The company 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 firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. On average, equities research analysts predict that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DOCN. Principal Financial Group Inc. lifted its stake in DigitalOcean by 10.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,301,499 shares of the company's stock worth $52,568,000 after purchasing an additional 122,651 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of DigitalOcean by 17.1% in the third quarter. Franklin Resources Inc. now owns 39,078 shares of the company's stock worth $1,714,000 after purchasing an additional 5,718 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of DigitalOcean in the third quarter worth about $423,000. Geode Capital Management LLC boosted its stake in DigitalOcean by 7.9% during the third quarter. Geode Capital Management LLC now owns 1,464,333 shares of the company's stock valued at $59,156,000 after buying an additional 106,636 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in DigitalOcean by 3.6% during the 3rd quarter. Stifel Financial Corp now owns 22,218 shares of the company's stock valued at $897,000 after buying an additional 777 shares in the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on DOCN shares. Canaccord Genuity Group raised their price target on shares of DigitalOcean from $42.00 to $48.00 and gave the company a "buy" rating in a report on Friday, October 4th. Needham & Company LLC restated a "hold" rating on shares of DigitalOcean in a report on Tuesday, November 5th. 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 note on Friday, October 11th. Stifel Nicolaus raised their price target on DigitalOcean from $35.00 to $40.00 and gave the stock a "hold" rating in a research note on Wednesday. Finally, 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. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, DigitalOcean has a consensus rating of "Hold" and a consensus price target of $42.13.

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).