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

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 3,948 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $36.63, for a total value of $144,615.24. Following the sale, the insider now owns 358,696 shares of the company’s stock, valued at approximately $13,139,034.48. This trade represents a 1.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 Trading Up 0.4 %

Shares of NYSE DOCN opened at $36.56 on Friday. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 43.01, a price-to-earnings-growth ratio of 3.12 and a beta of 1.80. DigitalOcean Holdings, Inc. has a 12-month low of $26.63 and a 12-month high of $47.02. The stock’s 50 day simple moving average is $39.95 and its 200 day simple moving average is $39.29.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group lifted their target price on DigitalOcean from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. JMP Securities lifted their target price on DigitalOcean from $47.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Monday, January 27th. Canaccord Genuity Group lifted their target price on DigitalOcean from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Bank of America lifted their target price on DigitalOcean from $28.00 to $31.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Finally, Cantor Fitzgerald lifted their target price on DigitalOcean from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, DigitalOcean presently has an average rating of “Hold” and a consensus target price of $43.27.

Institutional Trading of DigitalOcean

Several hedge funds have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. raised its stake in DigitalOcean by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 84,500 shares of the company’s stock valued at $2,879,000 after acquiring an additional 300 shares in the last quarter. Focus Partners Wealth raised its stake 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 acquiring an additional 338 shares in the last quarter. Summit Investment Advisors Inc. raised its stake 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 acquiring an additional 436 shares in the last quarter. Harbor Investment Advisory LLC raised its stake 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 in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in DigitalOcean by 150.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock valued at $39,000 after acquiring an additional 585 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).