DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Bratin Saha Sells 4,289 Shares

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 4,289 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total value of $157,835.20. Following the sale, the insider now owns 372,762 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, December 18th, Bratin Saha sold 3,468 shares of DigitalOcean stock. The shares were sold at an average price of $38.18, for a total value of $132,408.24.
• 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 value of $626,044.65.

DigitalOcean Price Performance

DOCN opened at $38.68 on Friday. The company’s 50 day simple moving average is $36.77 and its two-hundred day simple moving average is $37.26. DigitalOcean Holdings, Inc. has a 1-year low of $26.63 and a 1-year high of $44.80. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 45.51, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.52 earnings per share (EPS) 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 the consensus estimate of $196.64 million. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 EPS. On average, equities analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Institutional Trading of DigitalOcean

A number of hedge funds and other institutional investors have recently made changes to their positions in DOCN. Jacobs Levy Equity Management Inc. increased its holdings in shares of DigitalOcean by 32.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,397,588 shares of the company’s stock worth $56,449,000 after buying an additional 345,119 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of DigitalOcean during the 2nd quarter worth approximately $11,712,000. Dimensional Fund Advisors LP increased its holdings in shares of DigitalOcean by 23.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,079,579 shares of the company’s stock worth $37,512,000 after buying an additional 205,007 shares during the last quarter. Principal Financial Group Inc. increased its holdings in DigitalOcean by 10.4% in 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 last quarter. Finally, Public Sector Pension Investment Board acquired a new stake in DigitalOcean in the 2nd quarter valued at approximately $4,108,000. Institutional investors and hedge funds own 49.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of DigitalOcean in a research note on Friday, January 17th. They issued a “neutral” rating and a $39.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of DigitalOcean from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Morgan Stanley raised shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $41.00 in a research note on Thursday, January 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Finally, 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 research note on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.70.

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).