DigitalOcean (NYSE:DOCN) Insider Sells $414,628.70 in Stock

Key Points

• DigitalOcean insider Bratin Saha sold 13,010 shares of stock for $414,628.70, reducing their position by 4.61% while still holding 269,465 shares valued at approximately $8.58 million.
• The company reported a Q2 EPS of $0.59, exceeding analysts' estimates, and showing a 13.6% increase in revenue over the prior year.
• Brokerage reports provided varying outlooks on DigitalOcean, with a consensus price target of $41.45 and ratings ranging from "buy" to "hold" among analysts.

DigitalOcean Holdings, Inc. (NYSE:DOCN - Get Free Report) insider Bratin Saha sold 13,010 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $31.87, for a total transaction of $414,628.70. Following the transaction, the insider owned 269,465 shares in the company, valued at approximately $8,587,849.55. The trade was a 4.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, June 18th, Bratin Saha sold 3,461 shares of DigitalOcean stock. The stock was sold at an average price of $27.77, for a total transaction of $96,111.97.

DigitalOcean Trading Up 0.5%

Shares of NYSE:DOCN traded up $0.16 on Wednesday, reaching $32.03. 1,803,732 shares of the company's stock were exchanged, compared to its average volume of 1,748,180. The company has a fifty day moving average of $29.96 and a 200-day moving average of $31.54. DigitalOcean Holdings, Inc. has a twelve month low of $25.45 and a twelve month high of $47.02. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.85 and a beta of 1.77.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.12. DigitalOcean had a net margin of 15.18% and a negative return on equity of 73.19%. The firm had revenue of $218.70 million for the quarter, compared to analyst estimates of $216.62 million. During the same quarter in the prior year, the business posted $0.48 EPS. The business's revenue was up 13.6% compared to the same quarter last year. DigitalOcean has set its FY 2025 guidance at 2.050-2.100 EPS. Q3 2025 guidance at 0.450-0.500 EPS. As a group, equities research analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on DOCN. Needham & Company LLC restated a "hold" rating on shares of DigitalOcean in a research report on Tuesday, May 6th. Stifel Nicolaus set a $36.00 price target on shares of DigitalOcean in a report on Tuesday, August 5th. Canaccord Genuity Group upped their price target on shares of DigitalOcean from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of DigitalOcean from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Finally, Citigroup cut their price target on shares of DigitalOcean from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $41.45.

Hedge Funds Weigh In On DigitalOcean

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOCN. Norges Bank bought a new position in DigitalOcean in the 2nd quarter valued at approximately $22,633,000. Fuller & Thaler Asset Management Inc. lifted its stake in DigitalOcean by 28.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,987,177 shares of the company's stock valued at $66,352,000 after purchasing an additional 441,535 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of DigitalOcean by 34.5% during the second quarter. Lazard Asset Management LLC now owns 1,660,731 shares of the company's stock valued at $47,430,000 after acquiring an additional 426,264 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of DigitalOcean by 75.9% during the second quarter. Frontier Capital Management Co. LLC now owns 706,227 shares of the company's stock valued at $20,170,000 after acquiring an additional 304,805 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of DigitalOcean by 16.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,628,995 shares of the company's stock valued at $55,500,000 after acquiring an additional 231,407 shares during the last quarter. Institutional investors own 49.77% of the company's stock.

DigitalOcean Company Profile

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).

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