Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. DigitalOcean Holdings Inc shares valued at $138,368 were sold by Butte Amy on Feb 26 ’24. At $36.80 per share, Butte Amy sold 3,760 shares. The insider’s holdings dropped to 36,220 shares worth approximately $1.32 million following the completion of this transaction.
Also, Spruill Yancey L. sold 309,700 shares, netting a total of over 8,832,644 in proceeds. Following the sale of shares at $28.52 each, the insider now holds 4,954,067 shares.
Before that, Spruill Yancey L. had sold 149,704 shares from its account. In a trade valued at $4,324,949, the Chief Executive Officer traded DigitalOcean Holdings Inc shares for $28.89 each. Upon closing the transaction, the insider’s holdings decreased to 149,704 shares, worth approximately $171.42 million.
As published in a research note from Oppenheimer on November 21, 2023, DigitalOcean Holdings Inc [DOCN] has been rated up from a Perform to an Outperform and the price target has been revised to $37. Analysts at Goldman upgraded the stock from ‘”a Sell”‘ to ‘”a Buy”‘ outlook in a report released in early November. As of October 23, 2023, Piper Sandler has increased its “an Underweight” rating to a “Neutral” for DOCN. Earlier on September 08, 2023, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for DOCN stock which previously was a “a Buy”.
Analyzing DOCN Stock Performance
During the last five days, there has been a drop of approximately -0.79%. Over the course of the year, DigitalOcean Holdings Inc shares have dropped approximately -0.57%. Shares of the company reached a 52-week high of $41.58 on 03/13/24 and a 52-week low of $32.58 on 01/24/24. A 50-day SMA is recorded $37.97, while a 200-day SMA reached $33.65. Nevertheless, trading volume fell to 0.67 million shares from 0.89 million shares the previous day.
Support And Resistance Levels for DigitalOcean Holdings Inc (DOCN)
According to the 24-hour chart, there is a support level at 35.98, which, if violated, would cause prices to drop to 35.47. In the upper region, resistance lies at 37.05. The next price resistance is at 37.61. RSI (Relative Strength Index) is 41.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.14, which suggests the price will decrease in the coming days. Percent R is at 79.24%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is DigitalOcean Holdings Inc subject to short interest?
Stocks of DigitalOcean Holdings Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.31 million shares to 6.33 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 6.64 million shares. A decline of -4.9% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.57 of the overall float, the days-to-cover ratio (short ratio) decline to 4.57.
