Alpine Global Management LLC Makes New Investment in DigitalOcean Holdings, Inc. $DOCN

Alpine Global Management LLC bought a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 12,000 shares of the company's stock, valued at approximately $577,000.

Other institutional investors have also bought and sold shares of the company. Alyeska Investment Group L.P. purchased a new stake in DigitalOcean during the 3rd quarter valued at approximately $21,808,000. Arrowstreet Capital Limited Partnership boosted its position in shares of DigitalOcean by 90.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,194,845 shares of the company's stock worth $57,496,000 after acquiring an additional 568,823 shares during the last quarter. Vanguard Group Inc. grew its stake in DigitalOcean by 5.0% during the third quarter. Vanguard Group Inc. now owns 9,362,889 shares of the company's stock valued at $319,836,000 after acquiring an additional 442,617 shares in the last quarter. Franklin Resources Inc. grew its stake in DigitalOcean by 784.2% during the fourth quarter. Franklin Resources Inc. now owns 494,314 shares of the company's stock valued at $23,786,000 after acquiring an additional 438,411 shares in the last quarter. Finally, Danske Bank A S bought a new stake in DigitalOcean in the 3rd quarter valued at $14,582,000. Hedge funds and other institutional investors own 49.77% of the company's stock.

DigitalOcean Price Performance

DOCN opened at $173.11 on Friday. The business has a fifty day moving average of $138.33 and a 200 day moving average of $87.81. The stock has a market cap of $18.07 billion, a P/E ratio of 75.59 and a beta of 1.60. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.92. DigitalOcean Holdings, Inc. has a 52-week low of $25.56 and a 52-week high of $187.50.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.17. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The firm had revenue of $257.90 million for the quarter, compared to analysts' expectations of $249.76 million. During the same period in the prior year, the business posted $0.56 earnings per share. The business's revenue for the quarter 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, sell-side analysts anticipate that DigitalOcean Holdings, Inc. will post 0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DOCN. Barclays raised their price objective on DigitalOcean from $105.00 to $183.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Citigroup boosted their target price on DigitalOcean from $115.00 to $180.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Oppenheimer set a $190.00 price target on DigitalOcean in a report on Wednesday, May 6th. Citizens Jmp raised their price target on DigitalOcean from $83.00 to $105.00 and gave the company a "market outperform" rating in a report on Thursday, March 26th. Finally, Piper Sandler lifted their price objective on DigitalOcean from $98.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, DigitalOcean has a consensus rating of "Moderate Buy" and an average price target of $146.36.

Insiders Place Their Bets

In related news, CFO Matt Steinfort sold 25,000 shares of DigitalOcean stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $3,812,500.00. Following the completion of the sale, the chief financial officer directly owned 573,272 shares in the company, valued at $87,423,980. The trade was a 4.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hilary Schneider sold 4,338 shares of the 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 transaction, the director owned 24,323 shares in the company, valued at approximately $3,803,630.74. The trade was a 15.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,338 shares of company stock worth $6,191,576 in the last three months. Corporate insiders own 0.96% of the company's stock.

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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