Stocks of DigitalOcean Holdings Inc. (NYSE:DOCN) traded higher last session on Wall Street, down -4.36% to $23.67.
DOCN stock price is now -23.12% away from the 50-day moving average and -42.08% away from the 200-day moving average. The market capitalization of the company currently stands at $2.34B.
With the price target of $36, Needham recently initiated with Buy rating for DigitalOcean Holdings Inc. (NYSE: DOCN). On November 22, 2022, Credit Suisse recently initiated its ‘Neutral’ rating on the stock quoting a target price of $31, while ‘JP Morgan’ rates the stock as ‘Neutral’.
In other news, Norman Harold Matthew, Chief People Officer sold 17,500 shares of the company’s stock on Dec 01. The stock was sold for $512,400 at an average price of $29.28. Upon completion of the transaction, the Chief People Officer now directly owns 155,054 shares in the company, valued at $3.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 16, Chief Marketing Officer Brantz Carly D sold 1,773 shares of the business’s stock. A total of $56,027 was realized by selling the stock at an average price of $31.60. This leaves the insider owning 85,916 shares of the company worth $2.03 million. Insiders disposed of 8,167,358 shares of company stock worth roughly $193.32 million over the past 1 year. A total of 4.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in DOCN stock. A new stake in DigitalOcean Holdings Inc. shares was purchased by IA VENTURE PARTNERS, LLC during the first quarter worth $175,264,000. VAN BERKOM & ASSOCIATES INC. invested $19,698,000 in shares of DOCN during the first quarter. In the first quarter, NORGES BANK acquired a new stake in DigitalOcean Holdings Inc. valued at approximately $19,026,000. NORDEA INVESTMENT MANAGEMENT AB acquired a new stake in DOCN for approximately $3,714,000. NOMURA HOLDINGS INC purchased a new stake in DOCN valued at around $3,105,000 in the second quarter. In total, there are 360 active investors with 54.60% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $24.40 for DigitalOcean Holdings Inc. (NYSE: DOCN). During the past 12 months, DigitalOcean Holdings Inc. has had a low of $24.42 and a high of $85.72. As of last week, the company has a debt-to-equity ratio of 48.62, a current ratio of 9.20, and a quick ratio of 9.20. The fifty day moving average price for DOCN is $30.79 and a two-hundred day moving average price translates $40.87 for the stock.
The latest earnings results from DigitalOcean Holdings Inc. (NYSE: DOCN) was released for Jun, 2022. According to the Software – Infrastructure Company, earnings per share came in at $0.2, beating analysts’ expectations of $0.1 by 0.1. This compares to -$0.02 EPS in the same period last year. The net profit margin was -4.90% and return on equity was -9.70% for DOCN. The company reported revenue of $152.12 million for the quarter, compared to $111.43 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 36.51 percent. For the current quarter, analysts expect DOCN to generate $148.02M in revenue.
DigitalOcean Holdings Inc.(DOCN) 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. Its users include software engineers, researchers, data scientists, system administrators, students, and hobbyists. The company’s customers use its platform in various industry verticals and for a range of use cases, such as web and mobile applications, website hosting, e-commerce, media and gaming, personal web projects, managed services, and others. DigitalOcean Holdings, Inc. was incorporated in 2012 and is headquartered in New York, New York.