DigitalOcean Holdings, Inc. $DOCN Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,499 shares of the company's stock after buying an additional 2,320 shares during the quarter. California State Teachers Retirement System owned about 0.09% of DigitalOcean worth $14,211,058 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Parallel Advisors LLC grew its holdings in DigitalOcean by 66.2% in the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company's stock worth $28,000 after buying an additional 129 shares in the last quarter. Huntington National Bank lifted its stake in DigitalOcean by 638.3% in the 4th quarter. Huntington National Bank now owns 598 shares of the company's stock valued at $29,000 after acquiring an additional 517 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in DigitalOcean in the 1st quarter valued at about $33,000. Optiver Holding B.V. boosted its stake in DigitalOcean by 1,063.9% in the first quarter. Optiver Holding B.V. now owns 419 shares of the company's stock valued at $36,000 after buying an additional 383 shares in the last quarter. Finally, SSI Investment Management LLC bought a new position in shares of DigitalOcean in the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 49.77% of the company's stock.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, CAO Cherie Barrett sold 4,456 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 65,487 shares of the company's stock, valued at $8,668,514.19. The trade was a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Steinfort sold 10,000 shares of the firm's 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 sale, the chief financial officer owned 503,692 shares of the company's stock, valued at approximately $53,255,355.16. This trade represents a 1.95% 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. Over the last three months, insiders sold 22,641 shares of company stock valued at $2,589,317. Corporate insiders own 0.96% of the company's stock.

DigitalOcean Stock Performance

DOCN traded down $5.55 on Tuesday, hitting $114.66. The company's stock had a trading volume of 718,779 shares, compared to its average volume of 3,635,428. The firm has a market cap of $11.97 billion, a P/E ratio of 52.60, a price-to-earnings-growth ratio of 105.25 and a beta of 1.57. DigitalOcean Holdings, Inc. has a 12 month low of $33.69 and a 12 month high of $187.50. The company's 50 day simple moving average is $122.60 and its 200-day simple moving average is $119.82. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.14.

DigitalOcean (NYSE:DOCN - Get Free Report) last issued 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. The business had revenue of $281.18 million during the quarter, compared to analyst estimates of $279.03 million. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%.DigitalOcean's revenue was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 EPS. 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 forecast that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current year.

Wall Street Analyst Weigh In

DOCN has been the topic of several analyst reports. Barclays lifted their price objective on DigitalOcean from $160.00 to $161.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Canaccord Genuity Group reissued a "buy" rating and set a $200.00 price target on shares of DigitalOcean in a report on Friday, July 10th. Citigroup lifted their target price on shares of DigitalOcean from $185.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Stifel Nicolaus raised shares of DigitalOcean from a "hold" rating to a "buy" rating and lifted their price target for the company from $135.00 to $160.00 in a research report on Tuesday, July 21st. Finally, KeyCorp began coverage on shares of DigitalOcean in a research report on Tuesday, June 2nd. They issued an "overweight" rating and a $200.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $152.81.

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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