Danske Bank A S Purchases Shares of 9,478 DigitalOcean Holdings, Inc. $DOCN

Key Points

• Danske Bank purchased 9,478 DigitalOcean shares in the second quarter, valued at approximately $1.49 million. Institutional investors collectively own about 49.77% of the company.
• Analysts maintain a positive outlook, with DigitalOcean receiving a consensus “Buy” rating and an average price target of $151.33; recent targets include $175 from Morgan Stanley and $200 from KeyCorp.
• DigitalOcean exceeded quarterly expectations, reporting $0.45 in earnings per share versus the $0.26 consensus estimate and $281.18 million in revenue, up 28.6% year over year. Insiders have sold 18,656 shares worth about $2.81 million over the past 90 days.

Danske Bank A S purchased a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 9,478 shares of the company's stock, valued at approximately $1,488,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP increased its position in shares of DigitalOcean by 54.4% in the third quarter. Allworth Financial LP now owns 724 shares of the company's stock worth $25,000 after purchasing an additional 255 shares during the last quarter. Parallel Advisors LLC raised its stake in 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 purchasing an additional 129 shares in the last quarter. Huntington National Bank lifted its position in DigitalOcean by 638.3% during the fourth quarter. Huntington National Bank now owns 598 shares of the company's stock valued at $29,000 after purchasing an additional 517 shares during the last quarter. NBC Securities Inc. bought a new stake in DigitalOcean during the fourth quarter valued at approximately $32,000. Finally, Banque Cantonale Vaudoise purchased a new position in DigitalOcean in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 49.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DOCN shares. Morgan Stanley increased their price target on shares of DigitalOcean from $75.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. KeyCorp started coverage on shares of DigitalOcean in a report on Tuesday, June 2nd. They set an "overweight" rating and a $200.00 price objective for the company. Citigroup lifted their price objective on shares of DigitalOcean from $185.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. William Blair reiterated an "outperform" rating on shares of DigitalOcean in a research report on Wednesday, July 15th. Finally, Oppenheimer set a $190.00 target price on DigitalOcean in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, DigitalOcean has a consensus rating of "Buy" and an average price target of $151.33.

DigitalOcean Stock Up 0.7%

Shares of DOCN opened at $115.12 on Friday. DigitalOcean Holdings, Inc. has a 1 year low of $30.05 and a 1 year high of $187.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a 50 day simple moving average of $134.86 and a two-hundred day simple moving average of $113.48. The firm has a market cap of $12.01 billion, a P/E ratio of 52.57, a P/E/G ratio of 98.99 and a beta of 1.61.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted 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. The firm had revenue of $281.18 million for the quarter, compared to the consensus estimate of $279.03 million. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The business's revenue was up 28.6% compared to the same quarter last year. During the same period last year, the firm 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. On average, analysts forecast that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Activity at DigitalOcean

In related news, CAO Cherie Barrett sold 4,456 shares of DigitalOcean stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $132.37, for a total value of $589,840.72. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Steinfort sold 10,000 shares of DigitalOcean stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the completion of the transaction, the chief financial officer owned 538,414 shares in the company, valued at approximately $91,568,068.98. The trade was a 1.82% decrease in their position. 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. In the last 90 days, insiders have sold 18,656 shares of company stock valued at $2,811,383. 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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