Assenagon Asset Management S.A. Trims Holdings in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Assenagon Asset Management cut its DigitalOcean stake by 48.3% in the second quarter, selling 13,311 shares and retaining 14,228 shares worth approximately $2.23 million. Institutional investors collectively own 49.77% of the company.
• DigitalOcean reported quarterly adjusted earnings of $0.45 per share, beating estimates of $0.26, while revenue rose 28.6% year over year to $281.18 million. The company issued fiscal 2026 EPS guidance of $1.35–$1.40.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $151.33. Shares opened at $132.40, while recent insider activity included stock sales by a director and the CFO.

Assenagon Asset Management S.A. lessened its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 48.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 14,228 shares of the company's stock after selling 13,311 shares during the period. Assenagon Asset Management S.A.'s holdings in DigitalOcean were worth $2,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in DigitalOcean by 14.8% during the first quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company's stock worth $47,000 after purchasing an additional 71 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of DigitalOcean by 66.2% in the first quarter. Parallel Advisors LLC now owns 324 shares of the company's stock valued at $28,000 after buying an additional 129 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of DigitalOcean by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company's stock valued at $481,000 after buying an additional 185 shares in the last quarter. Hilltop National Bank purchased a new stake in shares of DigitalOcean in the 2nd quarter valued at $38,000. Finally, Allworth Financial LP lifted its stake in DigitalOcean by 54.4% during the 3rd quarter. Allworth Financial LP now owns 724 shares of the company's stock worth $25,000 after acquiring an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 49.77% of the company's stock.

DigitalOcean Stock Performance

Shares of DigitalOcean stock opened at $132.40 on Friday. DigitalOcean Holdings, Inc. has a one year low of $29.62 and a one year high of $187.50. The company has a market cap of $13.82 billion, a PE ratio of 60.46, a P/E/G ratio of 114.17 and a beta of 1.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.31 and a current ratio of 1.31. The business has a 50-day simple moving average of $140.56 and a 200-day simple moving average of $111.14.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.19. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The firm had revenue of $281.18 million for the quarter, compared to analyst estimates of $279.03 million. During the same period in the prior year, the firm earned $0.39 earnings per share. The business's quarterly revenue was up 28.6% compared to the same quarter last year. 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 research analysts forecast that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on DOCN shares. The Goldman Sachs Group raised their target price on DigitalOcean from $78.00 to $179.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of DigitalOcean from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. Morgan Stanley raised their price objective on shares of DigitalOcean from $75.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Canaccord Genuity Group restated a "buy" rating and issued a $200.00 price objective on shares of DigitalOcean in a report on Friday, July 10th. Finally, KeyCorp assumed coverage on shares of DigitalOcean in a research note on Tuesday, June 2nd. They set an "overweight" rating and a $200.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $151.33.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, Director Warren J. Adelman sold 4,200 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $124.01, for a total value of $520,842.00. Following the sale, the director directly owned 67,433 shares in the company, valued at $8,362,366.33. This trade represents a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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 trade 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. Corporate 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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