Insider Selling: DigitalOcean Holdings, Inc. (NASDAQ:DOCN) COO Sells $462,728.37 in Stock

DigitalOcean Holdings, Inc. (NASDAQ:DOCN) COO Jeffrey Scott Guy sold 18,681 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $24.77, for a total value of $462,728.37. Following the sale, the chief operating officer now directly owns 99,359 shares of the company’s stock, valued at $2,461,122.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Jeffrey Scott Guy also recently made the following trade(s):

• On Thursday, September 7th, Jeffrey Scott Guy sold 20,584 shares of DigitalOcean stock. The stock was sold at an average price of $25.21, for a total value of $518,922.64.
• On Monday, August 21st, Jeffrey Scott Guy sold 10,000 shares of DigitalOcean stock. The stock was sold at an average price of $32.41, for a total value of $324,100.00.

DigitalOcean Stock Up 0.1 %

DOCN stock opened at $27.30 on Friday. DigitalOcean Holdings, Inc. has a 12-month low of $19.39 and a 12-month high of $51.69. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -105.00, a PEG ratio of 4.46 and a beta of 1.42. The company’s fifty day simple moving average is $23.69 and its 200 day simple moving average is $33.29.

Institutional Investors Weigh In On DigitalOcean

A number of institutional investors have recently added to or reduced their stakes in DOCN. Integrated Investment Consultants LLC purchased a new stake in shares of DigitalOcean during the 2nd quarter valued at approximately $461,000. Summit Global Investments purchased a new stake in DigitalOcean during the 1st quarter valued at $965,000. Los Angeles Capital Management LLC lifted its position in shares of DigitalOcean by 102.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 17,776 shares of the company’s stock worth $714,000 after purchasing an additional 8,999 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of DigitalOcean in the 2nd quarter worth about $489,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of DigitalOcean by 1.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 748,762 shares of the company’s stock worth $29,329,000 after purchasing an additional 9,082 shares during the period. 56.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DOCN. Barclays lowered their price target on DigitalOcean from $42.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, October 12th. Canaccord Genuity Group dropped their price objective on shares of DigitalOcean from $52.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. The Goldman Sachs Group upgraded shares of DigitalOcean from a “sell” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, November 7th. JMP Securities lowered their target price on shares of DigitalOcean from $59.00 to $47.00 and set a “market outperform” rating for the company in a report on Friday, September 1st. Finally, Morgan Stanley decreased their price target on shares of DigitalOcean from $36.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $34.40.

DigitalOcean Company Profile

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.