Landscape Capital Management L.L.C. Takes Position in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Landscape Capital Management acquired 12,068 DigitalOcean shares during the second quarter, valued at approximately $1.9 million. Institutional investors collectively own about 49.77% of the company.
• Analyst sentiment remains positive, with DigitalOcean holding a consensus “Buy” rating and an average price target of $151.33. Recent targets range from $140 to $200.
• DigitalOcean exceeded quarterly earnings expectations, reporting $0.45 in EPS versus a $0.26 estimate and $281.18 million in revenue, up 28.6% year over year. However, insiders have sold 18,656 shares worth about $2.81 million over the past three months.

Landscape Capital Management L.L.C. bought a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,068 shares of the company's stock, valued at approximately $1,895,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in 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 purchasing an additional 255 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of 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 last quarter. Huntington National Bank lifted its position in shares of DigitalOcean by 638.3% during the 4th quarter. Huntington National Bank now owns 598 shares of the company's stock worth $29,000 after buying an additional 517 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of DigitalOcean in the 4th quarter valued at $32,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of DigitalOcean in the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 49.77% of the company's stock.

Insiders Place Their Bets

In other DigitalOcean news, Director Warren J. Adelman sold 4,200 shares of the business's stock in a transaction on Friday, August 7th. The stock was 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 in the company, valued at approximately $8,362,366.33. The trade was a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Cherie Barrett sold 4,456 shares of the company's stock in a transaction 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 in the company, valued at $8,668,514.19. This trade represents a 6.37% 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. Over the last three months, insiders have sold 18,656 shares of company stock worth $2,811,383. 0.96% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DOCN. Stifel Nicolaus raised shares of DigitalOcean from a "hold" rating to a "buy" rating and boosted their price target for the company from $135.00 to $160.00 in a research report on Tuesday, July 21st. UBS Group cut their target price on DigitalOcean from $155.00 to $140.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Canaccord Genuity Group reissued a "buy" rating and issued a $200.00 target price on shares of DigitalOcean in a report on Friday, July 10th. Barclays upped their target price on DigitalOcean from $160.00 to $161.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Finally, KeyCorp began coverage on DigitalOcean in a research note on Tuesday, June 2nd. They set an "overweight" rating and a $200.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $151.33.

DigitalOcean Trading Up 0.7%

NYSE:DOCN opened at $115.12 on Friday. The stock has a fifty day moving average price of $134.86 and a two-hundred day moving average price of $113.48. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 52.57, a PEG ratio of 98.99 and a beta of 1.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.31 and a current ratio of 1.31. DigitalOcean Holdings, Inc. has a 1 year low of $30.05 and a 1 year high of $187.50.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.19. The company had revenue of $281.18 million during the quarter, compared to the consensus estimate of $279.03 million. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%.DigitalOcean's quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. DigitalOcean has set its FY 2026 guidance at 1.350-1.400 EPS and its Q3 2026 guidance at 0.280-0.300 EPS. As a group, sell-side analysts anticipate that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current fiscal year.

About DigitalOcean

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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