DigitalOcean Holdings, Inc. (NASDAQ:DOCN) CMO Carly D. Brantz Sells 16,610 Shares

DigitalOcean Holdings, Inc. (NASDAQ:DOCN – Get Rating) CMO Carly D. Brantz sold 16,610 shares of DigitalOcean stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $40.40, for a total value of $671,044.00. Following the transaction, the chief marketing officer now directly owns 102,671 shares in the company, valued at $4,147,908.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

NASDAQ:DOCN opened at $39.97 on Friday. The company has a quick ratio of 25.81, a current ratio of 25.81 and a debt-to-equity ratio of 3.42. DigitalOcean Holdings, Inc. has a 1 year low of $30.05 and a 1 year high of $133.40. The stock’s 50 day simple moving average is $43.77 and its two-hundred day simple moving average is $57.33.

DigitalOcean (NASDAQ:DOCN – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.12). DigitalOcean had a negative return on equity of 5.00% and a negative net margin of 7.42%. The firm had revenue of $127.33 million during the quarter, compared to the consensus estimate of $126.22 million. During the same period in the previous year, the firm earned $0.06 EPS. The business’s revenue was up 35.9% compared to the same quarter last year. Analysts expect that DigitalOcean Holdings, Inc. will post -0.02 EPS for the current year.

Several institutional investors have recently made changes to their positions in DOCN. IA Venture Strategies Fund II LP purchased a new position in shares of DigitalOcean in the 4th quarter worth approximately $594,802,000. Norges Bank purchased a new position in shares of DigitalOcean in the 4th quarter worth approximately $64,571,000. Point72 Asset Management L.P. purchased a new position in shares of DigitalOcean in the 4th quarter worth approximately $61,388,000. BlackRock Inc. boosted its holdings in DigitalOcean by 23.6% during the 4th quarter. BlackRock Inc. now owns 3,872,055 shares of the company’s stock valued at $311,043,000 after acquiring an additional 739,826 shares during the period. Finally, First Trust Advisors LP boosted its holdings in DigitalOcean by 29.4% during the 1st quarter. First Trust Advisors LP now owns 3,241,162 shares of the company’s stock valued at $187,501,000 after acquiring an additional 735,924 shares during the period. Hedge funds and other institutional investors own 61.99% of the company’s stock.

A number of research analysts have recently weighed in on DOCN shares. KeyCorp lowered their price objective on DigitalOcean from $69.00 to $54.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. JMP Securities decreased their target price on DigitalOcean from $94.00 to $63.00 in a research note on Thursday, May 5th. Piper Sandler started coverage on DigitalOcean in a research note on Monday, April 4th. They set an “overweight” rating and a $72.00 target price on the stock. Canaccord Genuity Group decreased their target price on DigitalOcean from $115.00 to $70.00 in a research note on Friday, February 25th. Finally, Stifel Nicolaus decreased their target price on DigitalOcean from $85.00 to $60.00 in a research note on Thursday, February 24th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $68.18.

DigitalOcean Company Profile (Get Rating)

DigitalOcean Holdings, Inc, through its subsidiaries, operates a cloud computing platform in North America, Europe, Asia, and internationally. Its platform provides on-demand infrastructure and platform tools for developers, start-ups, and small and medium size businesses. The company offers infrastructure solutions across compute, storage, and networking, as well as enables developers to extend the native capabilities of its cloud with fully managed application, container, and database offerings.

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