Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Get Free Report) reached a new 52-week low on Monday after Stifel Nicolaus lowered their price target on the stock from $40.00 to $33.00. Stifel Nicolaus currently has a hold rating on the stock. DigitalOcean traded as low as $25.54 and last traded at $26.05, with a volume of 242872 shares traded. The stock had previously closed at $28.65.
Several other equities research analysts have also issued reports on the stock. Cantor Fitzgerald lifted their price target on shares of DigitalOcean from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. UBS Group increased their price target on DigitalOcean from $39.00 to $44.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Citigroup assumed coverage on DigitalOcean in a research report on Friday, January 24th. They set a "buy" rating and a $45.00 price target on the stock. Morgan Stanley upgraded DigitalOcean from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $40.00 to $41.00 in a research note on Thursday, January 16th. Finally, Bank of America increased their price target on shares of DigitalOcean from $28.00 to $31.00 and gave the company an "underperform" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $42.18.
Get Our Latest Stock Analysis on DOCN
Insider Buying and Selling
In related news, insider Bratin Saha sold 4,289 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $36.80, for a total value of $157,835.20. Following the sale, the insider now directly owns 372,762 shares of the company's stock, valued at $13,717,641.60. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.74% of the stock is owned by company insiders.
Institutional Investors Weigh In On DigitalOcean
A number of hedge funds have recently made changes to their positions in DOCN. Harbor Investment Advisory LLC boosted its position in DigitalOcean by 380.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 720 shares of the company's stock valued at $25,000 after buying an additional 570 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in DigitalOcean during the 4th quarter worth $45,000. SBI Securities Co. Ltd. acquired a new position in DigitalOcean in the 4th quarter worth about $66,000. KBC Group NV raised its position in DigitalOcean by 37.6% in the fourth quarter. KBC Group NV now owns 2,884 shares of the company's stock valued at $98,000 after purchasing an additional 788 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of DigitalOcean during the fourth quarter valued at about $115,000. 49.77% of the stock is currently owned by institutional investors and hedge funds.
DigitalOcean Price Performance
The company has a fifty day moving average price of $37.81 and a two-hundred day moving average price of $38.38. The company has a market capitalization of $2.54 billion, a P/E ratio of 32.42, a PEG ratio of 3.12 and a beta of 1.87.
About DigitalOcean
(
Get Free Report)
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).
See Also
Before you consider DigitalOcean, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and DigitalOcean wasn't on the list.
While DigitalOcean currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
