Insight Wealth Strategies LLC trimmed its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN – Free Report) by 31.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,882 shares of the company’s stock after selling 29,127 shares during the quarter. Insight Wealth Strategies LLC owned approximately 0.06% of DigitalOcean worth $9,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in DigitalOcean by 14.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company’s stock valued at $47,000 after purchasing an additional 71 shares during the period. Parallel Advisors LLC lifted its position in shares of DigitalOcean by 66.2% in the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock worth $28,000 after purchasing an additional 129 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of DigitalOcean by 1.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company’s stock worth $481,000 after purchasing an additional 185 shares during the period. Hilltop National Bank bought a new stake in shares of DigitalOcean in the 2nd quarter valued at $38,000. Finally, Allworth Financial LP boosted its stake in shares of DigitalOcean by 54.4% in the 3rd quarter. Allworth Financial LP now owns 724 shares of the company’s stock valued at $25,000 after purchasing an additional 255 shares during the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on DOCN. Citigroup lifted their target price on shares of DigitalOcean from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Stifel Nicolaus raised shares of DigitalOcean from a “hold” rating to a “buy” rating and upped their price target for the company from $135.00 to $160.00 in a research report on Tuesday, July 21st. UBS Group decreased their price target on DigitalOcean from $155.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Piper Sandler lifted their price objective on DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings downgraded DigitalOcean from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.33.
DigitalOcean Stock Performance
Shares of DOCN stock opened at $120.68 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14. The firm has a fifty day simple moving average of $142.34 and a two-hundred day simple moving average of $110.03. DigitalOcean Holdings, Inc. has a 12 month low of $28.79 and a 12 month high of $187.50. The firm has a market capitalization of $12.59 billion, a PE ratio of 55.10, a price-to-earnings-growth ratio of 121.20 and a beta of 1.61.
DigitalOcean (NYSE:DOCN – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.19. The firm had revenue of $281.18 million for the quarter, compared to analyst estimates of $279.03 million. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. DigitalOcean has set its FY 2026 guidance at 1.350-1.400 EPS and its Q3 2026 guidance at 0.280-0.300 EPS. Analysts forecast that DigitalOcean Holdings, Inc. will post 0.58 EPS for the current fiscal year.
Insider Buying and Selling
In other DigitalOcean news, Director Warren J. Adelman sold 4,200 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $124.01, for a total transaction of $520,842.00. Following the completion of the sale, the director directly owned 67,433 shares of the company’s stock, valued at approximately $8,362,366.33. The trade was a 5.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matt Steinfort sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $170.07, for a total value of $1,700,700.00. Following the sale, the chief financial officer directly owned 538,414 shares of the company’s stock, valued at $91,568,068.98. This represents a 1.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 43,538 shares of company stock worth $6,712,418 in the last quarter. Insiders own 0.96% of the company’s stock.
DigitalOcean Company Profile
DigitalOcean Holdings, Inc is a cloud infrastructure provider that focuses on simplicity, performance and developer experience. The company offers a range of cloud services designed to help software developers, startups and small- to medium-sized businesses deploy, manage and scale applications. Its flagship offering, Droplets, provides virtual private servers that can be configured with various CPU, memory and storage options. In addition to compute instances, DigitalOcean’s platform includes managed Kubernetes, scalable object and block storage, managed databases, load balancers and networking capabilities such as Virtual Private Cloud (VPC) and Floating IPs.
Founded in 2011 and headquartered in New York City, DigitalOcean was created with the goal of making cloud computing more accessible to individual developers and smaller teams.
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