UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN – Free Report) by 42.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,714 shares of the company’s stock after purchasing an additional 56,527 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.18% of DigitalOcean worth $29,634,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Bank of America Corp DE acquired a new stake in DigitalOcean during the second quarter worth $241,945,000. Principal Financial Group Inc. raised its stake in shares of DigitalOcean by 155.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,108,420 shares of the company’s stock valued at $95,080,000 after buying an additional 674,231 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of DigitalOcean during the 3rd quarter worth about $21,808,000. Bank of New York Mellon Corp bought a new position in shares of DigitalOcean during the 2nd quarter worth about $98,011,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of DigitalOcean by 90.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,194,845 shares of the company’s stock valued at $57,496,000 after acquiring an additional 568,823 shares in the last quarter. 49.77% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at DigitalOcean
In other news, CFO Matt Steinfort sold 10,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $105.73, for a total transaction of $1,057,300.00. Following the sale, the chief financial officer owned 503,692 shares in the company, valued at approximately $53,255,355.16. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Also, Director Warren J. Adelman sold 4,200 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $124.01, for a total value of $520,842.00. Following the completion of the sale, the director owned 67,433 shares of the company’s stock, valued at approximately $8,362,366.33. This trade represents a 5.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,641 shares of company stock valued at $2,589,317 in the last three months. Corporate insiders own 0.96% of the company’s stock.
DigitalOcean Price Performance
DigitalOcean (NYSE:DOCN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.19. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The company had revenue of $281.18 million during the quarter, compared to analyst estimates of $279.03 million. During the same quarter last year, the business posted $0.39 earnings per share. The company’s revenue was up 28.6% on a year-over-year basis. DigitalOcean has set its FY 2026 guidance at 1.350-1.400 EPS and its Q3 2026 guidance at 0.280-0.300 EPS. On average, equities analysts anticipate that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. UBS Group dropped their price target on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. KeyCorp began coverage on DigitalOcean in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 price objective on the stock. Robert W. Baird initiated coverage on DigitalOcean in a report on Tuesday, July 21st. They issued an “outperform” rating and a $165.00 target price for the company. Stifel Nicolaus upgraded DigitalOcean from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $160.00 in a research report on Tuesday, July 21st. Finally, Citigroup boosted their price target on DigitalOcean from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $152.81.
Check Out Our Latest Report on DigitalOcean
DigitalOcean 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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