DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Bratin Saha Sells 3,948 Shares of Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 3,948 shares of the firm’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Trading Up 1.7 %

Shares of DigitalOcean stock opened at $36.41 on Thursday. The firm has a market capitalization of $3.35 billion, a P/E ratio of 42.83, a P/E/G ratio of 3.12 and a beta of 1.80. The business has a fifty day simple moving average of $39.91 and a two-hundred day simple moving average of $39.30. DigitalOcean Holdings, Inc. has a 12 month low of $26.63 and a 12 month high of $47.02.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DOCN shares. Morgan Stanley upgraded shares of DigitalOcean from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $41.00 in a report on Thursday, January 16th. Stifel Nicolaus increased their price objective on shares of DigitalOcean from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Bank of America raised their price target on shares of DigitalOcean from $28.00 to $31.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 26th. Cantor Fitzgerald increased their price objective on shares of DigitalOcean from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, JMP Securities raised their price target on shares of DigitalOcean from $47.00 to $55.00 and gave the company a “market outperform” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.27.

Hedge Funds Weigh In On DigitalOcean

Several large investors have recently modified their holdings of DOCN. California State Teachers Retirement System increased its holdings in DigitalOcean by 6.9% in the 4th quarter. California State Teachers Retirement System now owns 60,357 shares of the company’s stock worth $2,056,000 after buying an additional 3,880 shares in the last quarter. Twinbeech Capital LP purchased a new stake in shares of DigitalOcean during the 4th quarter worth approximately $398,000. ProShare Advisors LLC raised its holdings in shares of DigitalOcean by 42.4% during the 4th quarter. ProShare Advisors LLC now owns 20,384 shares of the company’s stock worth $694,000 after acquiring an additional 6,073 shares in the last quarter. Interval Partners LP purchased a new stake in DigitalOcean during the 4th quarter valued at $3,690,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in DigitalOcean by 16.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,628,995 shares of the company’s stock valued at $55,500,000 after buying an additional 231,407 shares during the period. Hedge funds and other institutional investors own 49.77% of the company’s stock.

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).