DigitalOcean Holdings, Inc. (NYSE:DOCN) Insider Bratin Saha Sells 3,461 Shares

DigitalOcean Holdings, Inc. (NYSE:DOCN) insider Bratin Saha sold 3,461 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $27.77, for a total value of $96,111.97. Following the sale, the insider now directly owns 294,546 shares in the company, valued at $8,179,542.42. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Bratin Saha also recently made the following trade(s):

• On Monday, April 21st, Bratin Saha sold 3,461 shares of DigitalOcean stock. The stock was sold at an average price of $26.86, for a total value of $92,962.46.

DigitalOcean Stock Performance

DOCN opened at $27.83 on Thursday. The company has a market cap of $2.53 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.04 and a beta of 1.78. The stock has a 50-day moving average of $29.12 and a 200-day moving average of $34.75. DigitalOcean Holdings, Inc. has a 52-week low of $25.45 and a 52-week high of $47.02.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. The company had revenue of $210.70 million during the quarter, compared to the consensus estimate of $208.63 million. DigitalOcean had a negative return on equity of 60.69% and a net margin of 13.46%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. On average, research analysts predict that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

Institutional Trading of DigitalOcean

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of DigitalOcean by 336.1% during the 1st quarter. GAMMA Investing LLC now owns 1,064 shares of the company’s stock worth $36,000 after acquiring an additional 820 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in 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 during the period. SVB Wealth LLC bought a new stake in DigitalOcean during the 1st quarter valued at approximately $48,000. SBI Securities Co. Ltd. bought a new stake in DigitalOcean during the 4th quarter valued at approximately $66,000. Finally, Advisors Asset Management Inc. boosted its stake in DigitalOcean by 39.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock valued at $74,000 after purchasing an additional 632 shares during the period. Institutional investors own 49.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DOCN shares. Morgan Stanley dropped their price target on DigitalOcean from $52.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald upped their price target on DigitalOcean from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Bank of America upped their price target on DigitalOcean from $28.00 to $31.00 and gave the company an “underperform” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group dropped their price target on DigitalOcean from $46.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group dropped their price target on DigitalOcean from $44.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.83.

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).