Insider Selling: DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Sells $144,615.24 in Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 3,948 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $36.63, for a total value of $144,615.24. Following the completion of the sale, the insider now owns 358,696 shares in the company, valued at $13,139,034.48. This represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $36.80, for a total transaction of $157,835.20.

DigitalOcean Price Performance

DOCN stock opened at $36.76 on Friday. The firm has a 50 day simple moving average of $40.00 and a two-hundred day simple moving average of $39.28. The stock has a market cap of $3.38 billion, a PE ratio of 43.25, a P/E/G ratio of 3.12 and a beta of 1.80. DigitalOcean Holdings, Inc. has a one year low of $26.63 and a one year high of $47.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC raised its position in 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 purchasing an additional 570 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of 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 buying an additional 585 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in DigitalOcean in the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. purchased a new stake in DigitalOcean in the fourth quarter worth approximately $66,000. Finally, FSA Wealth Management LLC purchased a new stake in DigitalOcean in the third quarter worth approximately $85,000. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOCN has been the topic of several recent research reports. Citigroup initiated coverage on DigitalOcean in a research report on Friday, January 24th. They set a “buy” rating and a $45.00 target price on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of DigitalOcean in a report on Saturday, March 1st. Stifel Nicolaus lifted their target price on DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Canaccord Genuity Group increased their price target on shares of DigitalOcean from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of DigitalOcean from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.27.

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).