Corient Private Wealth LP Buys 87,540 Shares of DigitalOcean Holdings, Inc. $DOCN

Corient Private Wealth LP grew its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 662.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 100,760 shares of the company's stock after buying an additional 87,540 shares during the period. Corient Private Wealth LP owned approximately 0.10% of DigitalOcean worth $15,822,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Amundi increased its position in shares of DigitalOcean by 31.7% during the second quarter. Amundi now owns 30,674 shares of the company's stock valued at $4,817,000 after purchasing an additional 7,389 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of DigitalOcean during the 2nd quarter worth about $2,560,000. AlphaGrep UK Ltd acquired a new stake in shares of DigitalOcean during the 2nd quarter valued at about $604,000. Three Seasons Wealth LLC acquired a new stake in shares of DigitalOcean during the 2nd quarter valued at about $985,000. Finally, Nykredit A S bought a new stake in DigitalOcean in the second quarter valued at about $403,000. 49.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOCN has been the topic of a number of recent research reports. Robert W. Baird initiated coverage on DigitalOcean in a report on Tuesday, July 21st. They set an "outperform" rating and a $165.00 price objective on the stock. KeyCorp started coverage on DigitalOcean in a research report on Tuesday, June 2nd. They set an "overweight" rating and a $200.00 target price for the company. Barclays upped their price target on DigitalOcean from $160.00 to $161.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Canaccord Genuity Group reissued a "buy" rating and set a $200.00 price objective on shares of DigitalOcean in a report on Friday, July 10th. Finally, William Blair restated an "outperform" rating on shares of DigitalOcean in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, DigitalOcean currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.81.

Insider Transactions at DigitalOcean

In related news, Director Warren J. Adelman sold 4,200 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $124.01, for a total value of $520,842.00. Following the completion of the transaction, the director owned 67,433 shares in the company, valued at $8,362,366.33. The trade was a 5.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matt Steinfort sold 10,000 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $105.73, for a total value of $1,057,300.00. Following the completion of the transaction, the chief financial officer owned 503,692 shares in the company, valued at $53,255,355.16. The trade was a 1.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 three months, insiders have sold 22,641 shares of company stock worth $2,589,317. Corporate insiders own 0.96% of the company's stock.

DigitalOcean Trading Down 2.1%

DOCN stock opened at $117.74 on Wednesday. The business has a fifty day moving average price of $122.20 and a 200 day moving average price of $120.23. DigitalOcean Holdings, Inc. has a fifty-two week low of $33.69 and a fifty-two week high of $187.50. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 53.76, a P/E/G ratio of 102.91 and a beta of 1.57. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.31 and a quick ratio of 1.31.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced its 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. The company had revenue of $281.18 million for the quarter, compared to analysts' expectations of $279.03 million. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%.The business's revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $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. Analysts expect that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.

DigitalOcean Profile

DigitalOcean Holdings, Inc provides cloud computing services designed primarily for developers, startups, and small and medium-sized businesses. Its platform offers on-demand infrastructure and developer tools intended to simplify the process of building, deploying, and scaling applications.

The company's products include virtual machines known as Droplets, managed Kubernetes, managed databases, object storage through Spaces, block storage, networking services, and App Platform, a platform-as-a-service offering for application deployment.

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