Bank of New York Mellon Corp Acquires Shares of 624,154 DigitalOcean Holdings, Inc. $DOCN

Bank of New York Mellon Corp bought a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 624,154 shares of the company's stock, valued at approximately $98,011,000. Bank of New York Mellon Corp owned approximately 0.60% of DigitalOcean as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of DigitalOcean by 14.8% in the first quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company's stock worth $47,000 after acquiring an additional 71 shares during the period. Parallel Advisors LLC raised its stake in shares of DigitalOcean by 66.2% during the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company's stock valued at $28,000 after purchasing an additional 129 shares during the period. Maryland State Retirement & Pension System raised its stake in shares of DigitalOcean by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company's stock valued at $481,000 after purchasing an additional 185 shares during the period. Hilltop National Bank purchased a new stake in DigitalOcean during the 2nd quarter worth about $38,000. Finally, Allworth Financial LP boosted its stake in DigitalOcean by 54.4% in the 3rd 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. Institutional investors own 49.77% of the company's stock.

Insider Buying and Selling

In other DigitalOcean news, Director Warren J. Adelman sold 4,200 shares of DigitalOcean stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $124.01, for a total transaction of $520,842.00. Following the completion of the sale, the director owned 67,433 shares of the company's stock, valued at $8,362,366.33. The trade was a 5.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matt Steinfort sold 10,000 shares of the company's 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 completion of the transaction, the chief financial officer owned 538,414 shares of the company's stock, valued at $91,568,068.98. The trade was a 1.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last ninety days, insiders sold 18,656 shares of company stock worth $2,811,383. Corporate insiders own 0.96% of the company's stock.

DigitalOcean Stock Down 3.6%

DOCN stock opened at $111.53 on Tuesday. The company's 50 day moving average is $133.48 and its 200 day moving average is $114.23. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 50.93, a price-to-earnings-growth ratio of 98.99 and a beta of 1.61. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14. DigitalOcean Holdings, Inc. has a 1-year low of $30.36 and a 1-year high of $187.50.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.19. The business had revenue of $281.18 million during the quarter, compared to analyst estimates of $279.03 million. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. DigitalOcean's revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. DigitalOcean has set its FY 2026 guidance at 1.350-1.400 EPS and its Q3 2026 guidance at 0.280-0.300 EPS. Sell-side analysts predict that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.

Analysts Set New Price Targets

DOCN has been the topic of several analyst reports. Oppenheimer set a $190.00 price target on DigitalOcean in a research report on Wednesday, May 6th. Citigroup boosted their price objective on shares of DigitalOcean from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Robert W. Baird began coverage on shares of DigitalOcean in a research note on Tuesday, July 21st. They issued an "outperform" rating and a $165.00 target price on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $200.00 price target on shares of DigitalOcean in a report on Friday, July 10th. Finally, Weiss Ratings upgraded shares of DigitalOcean from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $151.33.

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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