Canada Pension Plan Investment Board purchased a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 70,000 shares of the company's stock, valued at approximately $10,992,000. Canada Pension Plan Investment Board owned about 0.07% of DigitalOcean at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of DOCN. Castleark Management LLC purchased a new stake in shares of DigitalOcean in the 2nd quarter worth $5,580,000. Osterweis Capital Management Inc. bought a new stake in DigitalOcean during the second quarter valued at about $14,374,000. Nicholas Investment Partners LP purchased a new stake in DigitalOcean in the second quarter worth about $2,983,000. Legal & General Group Plc bought a new position in shares of DigitalOcean in the second quarter worth about $16,502,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of DigitalOcean during the 2nd quarter valued at about $10,015,000. Institutional investors own 49.77% of the company's stock.
Insider Buying and Selling
In other DigitalOcean news, CAO Cherie Barrett sold 4,456 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $132.37, for a total transaction of $589,840.72. Following the completion of the transaction, the chief accounting officer owned 65,487 shares in the company, valued at $8,668,514.19. This trade represents a 6.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Warren J. Adelman sold 4,200 shares of DigitalOcean stock in a transaction that occurred 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 completion of the sale, the director directly owned 67,433 shares in the company, valued at approximately $8,362,366.33. The trade was a 5.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,656 shares of company stock worth $2,811,383. Corporate insiders own 0.96% of the company's stock.
DigitalOcean Price Performance
Shares of NYSE:DOCN opened at $111.50 on Friday. The firm has a market cap of $11.64 billion, a price-to-earnings ratio of 50.91, a P/E/G ratio of 95.20 and a beta of 1.61. The firm has a fifty day moving average price of $128.72 and a 200 day moving average price of $115.41. DigitalOcean Holdings, Inc. has a fifty-two week low of $30.89 and a fifty-two week high of $187.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.31 and a current ratio of 1.31.
DigitalOcean (NYSE:DOCN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.26 by $0.19. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The business had revenue of $281.18 million for the quarter, compared to analysts' expectations of $279.03 million. During the same quarter in the previous year, the company earned $0.39 EPS. 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. As a group, sell-side analysts expect that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts recently issued reports on DOCN shares. William Blair reissued an "outperform" rating on shares of DigitalOcean in a report on Wednesday, July 15th. The Goldman Sachs Group increased their price objective on shares of DigitalOcean from $78.00 to $179.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of DigitalOcean from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Oppenheimer set a $190.00 price target on DigitalOcean in a research note on Wednesday, May 6th. Finally, KeyCorp started coverage on DigitalOcean in a report on Tuesday, June 2nd. They set an "overweight" rating and a $200.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, DigitalOcean has an average rating of "Buy" and an average price target of $152.81.
Check Out Our Latest Research Report on DOCN
DigitalOcean Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding DOCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report).
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