Entropy Technologies LP Has $3.20 Million Holdings in DigitalOcean Holdings, Inc. $DOCN

Entropy Technologies LP increased its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 35.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,337 shares of the company's stock after purchasing an additional 9,747 shares during the quarter. Entropy Technologies LP's holdings in DigitalOcean were worth $3,203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DOCN. Parallel Advisors LLC lifted its holdings in DigitalOcean by 66.2% during the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company's stock worth $28,000 after buying an additional 129 shares during the period. Maryland State Retirement & Pension System increased its stake in shares of DigitalOcean by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company's stock valued at $481,000 after buying an additional 185 shares during the period. Allworth Financial LP increased its stake in shares of DigitalOcean by 54.4% in the third quarter. Allworth Financial LP now owns 724 shares of the company's stock valued at $25,000 after buying an additional 255 shares during the period. CWM LLC raised its position in shares of DigitalOcean by 1.3% during the fourth quarter. CWM LLC now owns 20,971 shares of the company's stock worth $1,009,000 after acquiring an additional 270 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of DigitalOcean during the first quarter worth about $33,000. 49.77% of the stock is currently owned by institutional investors and hedge funds.

DigitalOcean Stock Down 5.7%

DigitalOcean stock opened at $123.65 on Friday. The company has a market capitalization of $12.90 billion, a PE ratio of 53.99 and a beta of 1.57. DigitalOcean Holdings, Inc. has a 12-month low of $25.56 and a 12-month high of $187.50. The firm's fifty day moving average is $151.20 and its 200 day moving average is $103.88. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.92.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.17. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The business had revenue of $257.90 million during the quarter, compared to analysts' expectations of $249.76 million. During the same period last year, the company posted $0.56 earnings per share. The business's quarterly 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. As a group, sell-side analysts predict that DigitalOcean Holdings, Inc. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on DOCN shares. Morgan Stanley upped their target price on DigitalOcean from $75.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. William Blair restated an "outperform" rating on shares of DigitalOcean in a research report on Wednesday, July 15th. Citigroup upped their price objective on shares of DigitalOcean from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. UBS Group decreased their price objective on shares of DigitalOcean from $175.00 to $155.00 and set a "neutral" rating for the company in a research report on Wednesday, July 8th. Finally, Bank of America lifted their target price on shares of DigitalOcean from $103.00 to $107.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $151.93.

Insider Activity

In related news, CFO Matt Steinfort sold 10,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 538,414 shares of the company's stock, valued at approximately $91,568,068.98. This represents a 1.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, Director Hilary Schneider sold 4,338 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $156.38, for a total value of $678,376.44. Following the completion of the transaction, the director owned 24,323 shares in the company, valued at approximately $3,803,630.74. This represents a 15.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 39,338 shares of company stock valued at $6,191,576. 0.96% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding DOCN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.