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Keeping an Eye on DigitalOcean Holdings Inc (DOCN) After Insider Trading Activity

DigitalOcean Holdings Inc’s recent filing unveils that its Director Butte Amy unloaded Company’s shares for reported $0.14 million on Feb 26 ’24. In the deal valued at $36.80 per share,3,760 shares were sold. As a result of this transaction, Butte Amy now holds 36,220 shares worth roughly $1.36 million.

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Then, Spruill Yancey L. sold 309,700 shares, generating $8,832,644 in total proceeds. Upon selling the shares at $28.52, the Chief Executive Officer now owns 4,954,067 shares.

Before that, Spruill Yancey L. sold 149,704 shares. DigitalOcean Holdings Inc shares valued at $4,324,949 were divested by the Chief Executive Officer at a price of $28.89 per share. As a result of the transaction, Spruill Yancey L. now holds 4,699,067 shares, worth roughly $177.01 million.

Oppenheimer upgraded its DigitalOcean Holdings Inc [DOCN] rating to an Outperform from a a Perform in a research note published recently. A number of analysts have revised their coverage, including Goldman’s analysts, who increased its forecast for the stock in early November from “a Sell” to “a Buy”. Piper Sandler also remained covering DOCN and has increased its forecast on October 23, 2023 with a “Neutral” recommendation from previously “an Underweight” rating. BofA Securities revised its rating on September 08, 2023. It rated DOCN as “an Underperform” which previously was an “a Buy”.

Price Performance Review of DOCN

On Monday, DigitalOcean Holdings Inc [NYSE:DOCN] saw its stock jump 4.90% to $37.67. Over the last five days, the stock has gained 8.09%. DigitalOcean Holdings Inc shares have risen nearly 2.67% since the year began. Nevertheless, the stocks have risen 16.70% over the past one year. While a 52-week high of $51.69 was reached on 03/13/24, a 52-week low of $19.39 was recorded on 04/25/24. SMA at 50 days reached $36.52, while 200 days put it at $32.38. A total of 2.81 million shares were traded, compared to the trading of 4.14 million shares in the previous session.

Levels Of Support And Resistance For DOCN Stock

The 24-hour chart illustrates a support level at 35.87, which if violated will result in even more drops to 34.07. On the upside, there is a resistance level at 38.59. A further resistance level may holdings at 39.51. The Relative Strength Index (RSI) on the 14-day chart is 60.36, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.07, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.64%. Stochastics %K at 69.55% indicates the stock is a holding.

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