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

Key Points

• New York State Teachers Retirement System increased its DigitalOcean stake by 33% in the fourth quarter, ending with 49,310 shares worth about $2.37 million.
• Insider selling was notable, with CFO Matt Steinfort and CAO Cherie Barrett both selling shares in early March, reducing their holdings by 3.53% and 26.05%, respectively.
• DigitalOcean posted a strong quarter, beating earnings and revenue estimates with EPS of $0.44 and revenue of $257.91 million, while analysts remain broadly positive with a consensus Moderate Buy rating and target price of $141.08.

New York State Teachers Retirement System grew its position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 33.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,310 shares of the company's stock after purchasing an additional 12,229 shares during the period. New York State Teachers Retirement System owned approximately 0.05% of DigitalOcean worth $2,373,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of DigitalOcean by 54.4% during the third quarter. Allworth Financial LP now owns 724 shares of the company's stock worth $25,000 after buying an additional 255 shares during the period. CWM LLC increased its position in DigitalOcean by 1.3% in the 4th quarter. CWM LLC now owns 20,971 shares of the company's stock valued at $1,009,000 after acquiring an additional 270 shares during the period. GAMMA Investing LLC increased its position in DigitalOcean by 33.8% in the 4th quarter. GAMMA Investing LLC now owns 1,581 shares of the company's stock valued at $76,000 after acquiring an additional 399 shares during the period. Man Group plc raised its stake in DigitalOcean by 0.5% during the 2nd quarter. Man Group plc now owns 82,485 shares of the company's stock valued at $2,356,000 after acquiring an additional 420 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in DigitalOcean by 2.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,319 shares of the company's stock valued at $930,000 after acquiring an additional 435 shares in the last quarter. Institutional investors and hedge funds own 49.77% of the company's stock.

Insider Transactions at DigitalOcean

In other news, CFO Matt Steinfort sold 20,000 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $55.40, for a total transaction of $1,108,000.00. Following the completion of the transaction, the chief financial officer owned 545,916 shares in the company, valued at approximately $30,243,746.40. This trade represents a 3.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Cherie Barrett sold 22,000 shares of DigitalOcean stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $54.77, for a total transaction of $1,204,940.00. Following the completion of the transaction, the chief accounting officer directly owned 62,469 shares in the company, valued at $3,421,427.13. This represents a 26.05% decrease in their position. The SEC filing for this sale provides additional information. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays increased their price target on DigitalOcean from $105.00 to $183.00 and gave the stock an "overweight" rating in a research note on Wednesday. Stifel Nicolaus set a $57.00 price objective on shares of DigitalOcean in a research note on Tuesday, February 24th. The Goldman Sachs Group increased their target price on shares of DigitalOcean from $78.00 to $179.00 and gave the company a "buy" rating in a research report on Wednesday. Oppenheimer set a $190.00 target price on shares of DigitalOcean in a research note on Wednesday. Finally, Piper Sandler boosted their price target on shares of DigitalOcean from $98.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, DigitalOcean has a consensus rating of "Moderate Buy" and a consensus target price of $141.08.

DigitalOcean Stock Up 9.5%

Shares of DOCN stock opened at $164.65 on Friday. DigitalOcean Holdings, Inc. has a 1 year low of $25.56 and a 1 year high of $164.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.69 and a current ratio of 1.46. The business's fifty day moving average is $83.54 and its 200-day moving average is $62.24. The stock has a market cap of $17.18 billion, a PE ratio of 71.90 and a beta of 1.42.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.17. DigitalOcean had a return on equity of 88.86% and a net margin of 24.97%.The business had revenue of $257.91 million during the quarter, compared to analyst estimates of $249.76 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The company's revenue was up 22.4% on a year-over-year basis. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. Equities analysts expect that DigitalOcean Holdings, Inc. will post 0.45 earnings per share for the current fiscal year.

DigitalOcean Profile

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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