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

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

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

• On Tuesday, March 18th, Bratin Saha sold 3,948 shares of DigitalOcean stock. The shares were 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 stock was sold at an average price of $36.80, for a total value of $157,835.20.

DigitalOcean Price Performance

DOCN stock traded up $0.34 during mid-day trading on Friday, hitting $30.29. 176,184 shares of the stock were exchanged, compared to its average volume of 1,297,682. The business has a fifty day moving average price of $34.73 and a 200 day moving average price of $37.59. 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 $2.78 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 3.12 and a beta of 1.87.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a report on Monday, April 7th. 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 research note on Wednesday, February 26th. JMP Securities raised 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. Stifel Nicolaus decreased their price target on shares of DigitalOcean from $40.00 to $33.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Finally, Citigroup began coverage on DigitalOcean in a research note on Friday, January 24th. They set a "buy" rating and a $45.00 price objective for the company. One 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's stock. According to MarketBeat, DigitalOcean currently has an average rating of "Hold" and a consensus price target of $41.27.

Institutional Trading of DigitalOcean

A number of hedge funds have recently bought and sold shares of DOCN. Hillsdale Investment Management Inc. lifted its position in DigitalOcean by 0.4% in the fourth 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 last quarter. Focus Partners Wealth raised its holdings in DigitalOcean by 2.8% during the 4th quarter. Focus Partners Wealth now owns 12,455 shares of the company's stock valued at $424,000 after buying an additional 338 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in DigitalOcean by 6.8% during the 4th 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 grew its holdings 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 during the last quarter. Finally, BSW Wealth Partners increased its position in shares of DigitalOcean by 4.3% in the fourth quarter. BSW Wealth Partners now owns 14,556 shares of the company's stock valued at $496,000 after acquiring an additional 600 shares during the period. Institutional investors own 49.77% of the company's stock.

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).