Brokerages Set DigitalOcean Holdings, Inc. (NYSE:DOCN) Price Target at $42.18

DigitalOcean Holdings, Inc. (NYSE:DOCN) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $41.27.

A number of brokerages have issued reports on DOCN. Needham & Company LLC reiterated a “hold” rating on shares of DigitalOcean in a research note on Monday, April 7th. Stifel Nicolaus decreased their price objective on shares of DigitalOcean from $40.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, April 7th. JMP Securities upped their target price on DigitalOcean from $47.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on DigitalOcean from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, Barclays decreased their target price on DigitalOcean from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday.

DigitalOcean Price Performance

Shares of NYSE:DOCN opened at $25.96 on Tuesday. The business’s 50 day simple moving average is $35.73 and its 200 day simple moving average is $37.81. The company has a market capitalization of $2.38 billion, a P/E ratio of 30.54, a P/E/G ratio of 3.12 and a beta of 1.87. DigitalOcean has a 1 year low of $25.45 and a 1 year high of $47.02.

Insider Activity at DigitalOcean

In other DigitalOcean news, 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 transaction of $144,615.24. Following the completion of the transaction, the insider now owns 358,696 shares in the company, valued at approximately $13,139,034.48. This trade represents a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DigitalOcean

Large investors have recently modified their holdings of the company. Harbor Investment Advisory LLC boosted 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 acquiring an additional 570 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of DigitalOcean by 336.1% in the 1st quarter. GAMMA Investing LLC now owns 1,064 shares of the company’s stock valued at $36,000 after purchasing an additional 820 shares during the period. JTC Employer Solutions Trustee Ltd bought a new stake in shares of DigitalOcean during the 4th quarter valued at about $45,000. Farther Finance Advisors LLC boosted its position in shares of DigitalOcean by 135,100.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,352 shares of the company’s stock valued at $46,000 after purchasing an additional 1,351 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in DigitalOcean during the fourth quarter worth approximately $66,000. 49.77% of the stock is currently owned by institutional investors and hedge funds.

About DigitalOcean

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).