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

California State Teachers Retirement System lifted its position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 16,016.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,211,058 shares of the company's stock after purchasing an additional 14,122,879 shares during the quarter. California State Teachers Retirement System owned approximately 13.62% of DigitalOcean worth $2,231,562,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in DigitalOcean during the 2nd quarter valued at approximately $38,000. Rakuten Securities Inc. acquired a new stake in shares of DigitalOcean during the second quarter worth $43,000. Parallel Advisors LLC grew its position in DigitalOcean by 66.2% in the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company's stock valued at $28,000 after buying an additional 129 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in DigitalOcean in the 1st quarter valued at $33,000. Finally, LRI Investments LLC acquired a new position in DigitalOcean in the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 49.77% of the company's stock.

Insider Activity

In related 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 value of $589,840.72. Following the sale, the chief accounting officer directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 sale, the chief financial officer directly owned 503,692 shares in the company, valued at $53,255,355.16. The trade was a 1.95% decrease in their position. 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 quarter, insiders sold 22,641 shares of company stock valued at $2,589,317. 0.96% of the stock is currently owned by company insiders.

DigitalOcean Stock Performance

Shares of DOCN opened at $122.83 on Friday. The business's fifty day moving average price is $122.81 and its 200 day moving average price is $118.99. 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 Holdings, Inc. has a 12-month low of $33.69 and a 12-month high of $187.50. The stock has a market capitalization of $12.82 billion, a PE ratio of 56.08, a price-to-earnings-growth ratio of 112.19 and a beta of 1.57.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.19. The business had revenue of $281.18 million during 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 company's revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the prior 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. Equities research analysts forecast that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of DigitalOcean from $160.00 to $161.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. William Blair restated an "outperform" rating on shares of DigitalOcean in a research report on Wednesday, July 15th. Truist Financial began coverage on DigitalOcean in a research report on Thursday, August 27th. They set a "buy" rating and a $175.00 target price on the stock. Robert W. Baird assumed coverage on DigitalOcean in a report on Tuesday, July 21st. They issued an "outperform" rating and a $165.00 price target for the company. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $200.00 price target on shares of DigitalOcean in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, DigitalOcean currently has an average rating of "Moderate Buy" and a consensus target price of $152.81.

DigitalOcean Company 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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