84,335 Shares in DigitalOcean Holdings, Inc. $DOCN Acquired by Norris Financial Group LLC

Key Points

• Norris Financial Group acquired 84,335 DigitalOcean shares worth approximately $7.2 million, making DOCN about 2.4% of its portfolio. Institutional investors collectively own nearly 49.8% of the company.
• DigitalOcean exceeded quarterly expectations, reporting $0.44 EPS and $257.9 million in revenue, with revenue up 22.4% year over year. The company guided for $0.20–$0.23 in Q2 2026 EPS and $1.10–$1.20 for fiscal 2026.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $151.93, while insiders sold 39,338 shares worth about $6.2 million during the latest quarter.

Norris Financial Group LLC acquired a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 84,335 shares of the company's stock, valued at approximately $7,234,000. DigitalOcean makes up about 2.4% of Norris Financial Group LLC's investment portfolio, making the stock its 11th largest position. Norris Financial Group LLC owned about 0.08% of DigitalOcean at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new position in DigitalOcean during the 4th quarter worth approximately $2,358,000. New York State Teachers Retirement System increased its stake in shares of DigitalOcean by 33.0% in the fourth quarter. New York State Teachers Retirement System now owns 49,310 shares of the company's stock worth $2,373,000 after buying an additional 12,229 shares during the last quarter. Legato Capital Management LLC bought a new position in DigitalOcean during the 4th quarter worth approximately $1,365,000. Campbell Newman Asset Management Inc. acquired a new position in DigitalOcean in the fourth quarter worth $2,101,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of DigitalOcean during the 4th quarter valued at about $1,020,000. Hedge funds and other institutional investors own 49.77% of the company's stock.

Insiders Place Their Bets

In other news, Director Hilary Schneider sold 4,338 shares of the company's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $156.38, for a total transaction of $678,376.44. Following the completion of the sale, the director owned 24,323 shares in the company, valued at approximately $3,803,630.74. This represents a 15.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matt Steinfort sold 10,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $170.07, for a total value of $1,700,700.00. Following the transaction, the chief financial officer directly owned 538,414 shares in the company, valued at approximately $91,568,068.98. This represents a 1.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 sold 39,338 shares of company stock valued at $6,191,576 over the last quarter. 0.96% of the stock is currently owned by corporate insiders.

DigitalOcean Price Performance

DOCN opened at $120.02 on Friday. The stock has a fifty day moving average price of $148.07 and a 200 day moving average price of $105.98. DigitalOcean Holdings, Inc. has a 1 year low of $25.56 and a 1 year high of $187.50. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 52.41 and a beta of 1.57. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.92.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.17. The firm had revenue of $257.90 million during the quarter, compared to analysts' expectations of $249.76 million. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The company's revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. Analysts forecast that DigitalOcean Holdings, Inc. will post 0.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on DOCN. Piper Sandler raised their target price on DigitalOcean from $98.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Oppenheimer set a $190.00 price target on DigitalOcean in a report on Wednesday, May 6th. Citigroup increased their price objective on DigitalOcean from $180.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. The Goldman Sachs Group raised their target price on shares of DigitalOcean from $78.00 to $179.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, KeyCorp began coverage on DigitalOcean in a research report on Tuesday, June 2nd. They issued an "overweight" rating and a $200.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $151.93.

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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