Allspring Global Investments Holdings LLC Has $59.95 Million Position in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Allspring Global Investments increased its DigitalOcean stake by 81.3% in the first quarter, ending with 683,707 shares valued at about $59.95 million.
• DigitalOcean recently beat quarterly expectations, reporting $0.44 EPS on revenue of $257.9 million, with revenue up 22.4% year over year. The company also issued Q2 2026 and full-year 2026 EPS guidance.
• Wall Street remains generally positive on the stock, with a Moderate Buy consensus and a price target of $145.36, even as several insiders have sold shares in recent months.

Allspring Global Investments Holdings LLC boosted its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 81.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 683,707 shares of the company's stock after acquiring an additional 306,529 shares during the period. Allspring Global Investments Holdings LLC owned 0.66% of DigitalOcean worth $59,947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in DOCN. Allworth Financial LP boosted its position in DigitalOcean by 54.4% during the third quarter. Allworth Financial LP now owns 724 shares of the company's stock worth $25,000 after purchasing an additional 255 shares during the period. Huntington National Bank raised its position in shares of DigitalOcean by 638.3% in the fourth quarter. Huntington National Bank now owns 598 shares of the company's stock valued at $29,000 after purchasing an additional 517 shares during the period. NBC Securities Inc. bought a new position in shares of DigitalOcean in the fourth quarter valued at about $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of DigitalOcean during the 1st quarter worth about $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of DigitalOcean during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 49.77% of the company's stock.

DigitalOcean Stock Performance

NYSE DOCN opened at $119.56 on Friday. The firm's 50 day simple moving average is $153.94 and its 200 day simple moving average is $101.00. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 52.21 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 Holdings, Inc. has a 1 year low of $25.56 and a 1 year high of $187.50.

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

Wall Street Analysts Forecast Growth

DOCN has been the topic of a number of research reports. Bank of America upped their price target on shares of DigitalOcean from $103.00 to $107.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. Piper Sandler raised their price objective on shares of DigitalOcean from $98.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Citizens Jmp boosted their price objective on DigitalOcean from $83.00 to $105.00 and gave the stock a "market outperform" rating in a report on Thursday, March 26th. William Blair reaffirmed an "outperform" rating on shares of DigitalOcean in a research report on Wednesday. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $200.00 target price on shares of DigitalOcean in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.36.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, CFO Matt Steinfort sold 10,000 shares of DigitalOcean stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the transaction, the chief financial officer directly owned 538,414 shares of the company's stock, valued at approximately $91,568,068.98. The trade was a 1.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Hilary Schneider sold 4,338 shares of DigitalOcean stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $156.38, for a total value of $678,376.44. Following the transaction, the director directly owned 24,323 shares in the company, valued at $3,803,630.74. The trade was a 15.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 39,338 shares of company stock worth $6,191,576. 0.96% of the stock is currently owned by insiders.

About DigitalOcean

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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