Brokerages Set DigitalOcean Holdings, Inc. (NYSE:DOCN) PT at $43.27

Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) have been given an average rating of “Hold” by the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $43.27.

DOCN has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of DigitalOcean from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on DigitalOcean from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Morgan Stanley upgraded DigitalOcean from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $40.00 to $41.00 in a research report on Thursday, January 16th. Canaccord Genuity Group boosted their price target on DigitalOcean from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of DigitalOcean in a report on Wednesday, February 26th.

Insider Transactions at DigitalOcean

In other news, insider Bratin Saha sold 3,948 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $36.63, for a total transaction of $144,615.24. Following the completion of the transaction, the insider now directly owns 358,696 shares in the company, valued at approximately $13,139,034.48. This represents a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.74% of the company’s stock.

Institutional Trading of DigitalOcean

Several institutional investors and hedge funds have recently bought and sold shares of DOCN. Hillsdale Investment Management Inc. increased its position in shares of DigitalOcean by 0.4% during the fourth 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 during the last quarter. Focus Partners Wealth boosted its position in shares of DigitalOcean by 2.8% during the 4th quarter. Focus Partners Wealth now owns 12,455 shares of the company’s stock worth $424,000 after purchasing an additional 338 shares during the period. Summit Investment Advisors Inc. raised its position in DigitalOcean by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,866 shares of the company’s stock valued at $234,000 after purchasing an additional 436 shares during the period. Harbor Investment Advisory LLC lifted its stake in DigitalOcean by 380.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 720 shares of the company’s stock worth $25,000 after purchasing an additional 570 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of DigitalOcean by 150.4% during the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company’s stock worth $39,000 after buying an additional 585 shares during the period. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

DigitalOcean Stock Performance

Shares of NYSE DOCN opened at $35.57 on Friday. The firm has a market cap of $3.27 billion, a PE ratio of 41.84, a PEG ratio of 3.12 and a beta of 1.80. DigitalOcean has a one year low of $26.63 and a one year high of $47.02. The firm has a fifty day moving average of $40.23 and a 200 day moving average of $39.31.

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).