DigitalOcean Holdings, Inc. $DOCN Stock Position Lessened by Congress Asset Management Co.

Key Points

• Congress Asset Management reduced its DigitalOcean stake by 5% in the third quarter, selling 7,800 shares and retaining 148,065 shares worth approximately $19.75 million. Institutional investors collectively own 49.77% of DOCN.
• DigitalOcean insiders sold 22,641 shares worth about $2.59 million over the past 90 days, including sales by Chief Accounting Officer Cherie Barrett and Director Warren Adelman.
• DigitalOcean reported quarterly EPS of $0.45, exceeding estimates of $0.26, while revenue rose 28.6% year over year to $281.18 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $152.81.

Congress Asset Management Co. lowered its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,065 shares of the company's stock after selling 7,800 shares during the quarter. Congress Asset Management Co. owned approximately 0.14% of DigitalOcean worth $19,750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in DOCN. Parallel Advisors LLC raised its holdings in shares of DigitalOcean by 66.2% during 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 in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of DigitalOcean during the first quarter valued at about $33,000. Optiver Holding B.V. boosted its holdings in shares of DigitalOcean by 1,063.9% during the first quarter. Optiver Holding B.V. now owns 419 shares of the company's stock worth $36,000 after purchasing an additional 383 shares during the period. SSI Investment Management LLC bought a new stake in shares of DigitalOcean in the second quarter worth about $37,000. Finally, Hilltop National Bank bought a new stake in shares of DigitalOcean in the second quarter worth about $38,000. Institutional investors own 49.77% of the company's stock.

Insider Activity at DigitalOcean

In other news, CAO Cherie Barrett sold 4,456 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $132.37, for a total value of $589,840.72. Following the completion of the transaction, the chief accounting officer owned 65,487 shares of the company's stock, valued at $8,668,514.19. This represents 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, Director Warren J. Adelman sold 4,200 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $124.01, for a total transaction of $520,842.00. Following the sale, the director directly owned 67,433 shares of the company's stock, valued at approximately $8,362,366.33. This trade represents a 5.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 22,641 shares of company stock worth $2,589,317. 0.96% of the stock is owned by company insiders.

DigitalOcean Stock Performance

Shares of DOCN opened at $131.14 on Wednesday. The company has a market cap of $13.69 billion, a price-to-earnings ratio of 59.88, a P/E/G ratio of 116.68 and a beta of 1.70. The business's fifty day simple moving average is $125.23 and its two-hundred day simple moving average is $128.08. DigitalOcean Holdings, Inc. has a 12 month low of $37.09 and a 12 month high of $187.50. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.19. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The firm had revenue of $281.18 million during the quarter, compared to analyst estimates of $279.03 million. During the same period in the previous year, the business posted $0.39 earnings per share. The business's revenue for the quarter was up 28.6% on a year-over-year basis. DigitalOcean has set its FY 2026 guidance at 1.350-1.400 EPS and its Q3 2026 guidance at 0.280-0.300 EPS. Research analysts anticipate that DigitalOcean Holdings, Inc. will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DOCN shares. Stifel Nicolaus raised shares of DigitalOcean from a "hold" rating to a "buy" rating and boosted their price objective for the company from $135.00 to $160.00 in a research report on Tuesday, July 21st. Canaccord Genuity Group reaffirmed a "buy" rating and set a $200.00 target price on shares of DigitalOcean in a research note on Friday, July 10th. UBS Group reduced their price target on shares of DigitalOcean from $155.00 to $140.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Barclays increased their price target on shares of DigitalOcean from $160.00 to $161.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Finally, Robert W. Baird started coverage on DigitalOcean in a report on Tuesday, July 21st. They set an "outperform" rating and a $165.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $152.81.

About DigitalOcean

DigitalOcean Holdings, Inc NYSE: DOCN provides cloud computing services designed primarily for developers, startups, and small and midsize businesses. Its platform offers on-demand infrastructure and software tools intended to simplify the development, deployment, and management of applications.

The company's services include cloud compute through Droplets, managed Kubernetes, managed databases, object and block storage, networking, and the App Platform for deploying applications. DigitalOcean also provides developer tools, tutorials, support, and other resources intended to help customers build and scale digital products without managing traditional data-center infrastructure.

Founded in 2011 and headquartered in New York City, DigitalOcean serves customers internationally through cloud infrastructure and data-center regions located in North America, Europe, and Asia.

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