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

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 4,289 shares of DigitalOcean stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $36.80, for a total transaction 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 represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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 transaction of $132,408.24.
• 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 transaction of $626,044.65.

DigitalOcean Price Performance

Shares of DOCN opened at $38.68 on Friday. The firm has a market capitalization of $3.57 billion, a PE ratio of 45.51, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78. DigitalOcean Holdings, Inc. has a 1-year low of $26.63 and a 1-year high of $44.80. The company’s fifty day moving average price is $36.77 and its 200-day moving average price is $37.26.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. The firm had revenue of $198.50 million for 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 business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. As a group, research analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DOCN. Cantor Fitzgerald began coverage on shares of DigitalOcean in a research note on Friday, January 17th. They issued a “neutral” rating and a $39.00 price objective for the company. Morgan Stanley raised shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $41.00 in a research note on Thursday, January 16th. Barclays boosted their price objective on shares of DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Canaccord Genuity Group boosted their price objective on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research note on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, DigitalOcean currently has a consensus rating of “Hold” and an average price target of $41.70.

Institutional Investors Weigh In On DigitalOcean

A number of large investors have recently made changes to their positions in DOCN. Harbor Investment Advisory LLC grew its holdings in shares of DigitalOcean by 380.0% during 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 during the last quarter. Farther Finance Advisors LLC acquired a new stake in DigitalOcean during the 3rd quarter worth about $30,000. Advisors Asset Management Inc. grew its position in DigitalOcean by 150.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock worth $39,000 after purchasing an additional 585 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new stake in DigitalOcean during the 4th quarter worth about $45,000. Finally, Blue Trust Inc. grew its position in DigitalOcean by 380.6% during the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $49,000 after purchasing an additional 959 shares during the period. 49.77% of the stock is owned by hedge funds and other institutional investors.

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).