Brokerages Set DigitalOcean Holdings, Inc. (NASDAQ:DOCN) PT at $43.45

DigitalOcean Holdings, Inc. (NASDAQ:DOCNGet Rating) has been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $42.42.

DOCN has been the topic of several recent research reports. Barclays dropped their target price on shares of DigitalOcean from $45.00 to $37.00 in a report on Tuesday, November 8th. Piper Sandler increased their price objective on shares of DigitalOcean from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. The Goldman Sachs Group decreased their price objective on shares of DigitalOcean from $34.00 to $29.00 and set a “sell” rating for the company in a research report on Tuesday, November 8th. Morgan Stanley decreased their price objective on shares of DigitalOcean from $41.00 to $28.00 and set an “underweight” rating for the company in a research report on Tuesday, November 8th. Finally, Bank of America cut their price target on shares of DigitalOcean from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 8th.

Insider Activity at DigitalOcean

In related news, insider Gabriel Monroy sold 3,495 shares of DigitalOcean stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $40.10, for a total value of $140,149.50. Following the sale, the insider now owns 84,791 shares of the company’s stock, valued at approximately $3,400,119.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DigitalOcean news, insider Gabriel Monroy sold 3,495 shares of the firm’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $40.10, for a total value of $140,149.50. Following the transaction, the insider now owns 84,791 shares in the company, valued at approximately $3,400,119.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Carly D. Brantz sold 1,773 shares of the firm’s stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $31.60, for a total value of $56,026.80. Following the completion of the transaction, the chief marketing officer now owns 85,916 shares in the company, valued at approximately $2,714,945.60. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DOCN. Signaturefd LLC raised its holdings in DigitalOcean by 706.7% in the 1st quarter. Signaturefd LLC now owns 484 shares of the company’s stock valued at $28,000 after buying an additional 424 shares during the period. CENTRAL TRUST Co grew its position in shares of DigitalOcean by 63.0% during the first quarter. CENTRAL TRUST Co now owns 1,100 shares of the company’s stock worth $64,000 after buying an additional 425 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of DigitalOcean by 31.0% during the first quarter. Envestnet Asset Management Inc. now owns 36,090 shares of the company’s stock worth $2,088,000 after buying an additional 8,531 shares in the last quarter. Clearstead Advisors LLC grew its position in shares of DigitalOcean by 53.0% during the first quarter. Clearstead Advisors LLC now owns 2,141 shares of the company’s stock worth $124,000 after buying an additional 742 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its position in shares of DigitalOcean by 53.7% during the first quarter. ClariVest Asset Management LLC now owns 6,518 shares of the company’s stock worth $377,000 after buying an additional 2,276 shares in the last quarter. Hedge funds and other institutional investors own 52.00% of the company’s stock.

DigitalOcean Stock Up 4.7 %

Shares of DigitalOcean stock opened at $28.17 on Tuesday. The company has a debt-to-equity ratio of 48.59, a current ratio of 9.19 and a quick ratio of 9.19. DigitalOcean has a 1 year low of $26.00 and a 1 year high of $106.40. The firm’s 50-day moving average is $35.02 and its two-hundred day moving average is $40.00. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -117.38 and a beta of 1.26.

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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