Legal & General Group Plc Buys Shares of 105,086 DigitalOcean Holdings, Inc. $DOCN

Key Points

• Legal & General Group Plc acquired 105,086 DigitalOcean shares worth approximately $16.5 million, representing about 0.10% of the company. Hedge funds and other institutional investors collectively own 49.77% of DOCN.
• Analyst sentiment remains positive, with an average rating of “Buy” and an average price target of $152.81. Recent targets range from $140 at UBS to $200 at Canaccord Genuity.
• DigitalOcean reported quarterly EPS of $0.45, exceeding estimates by $0.19, while revenue rose 28.6% year over year to $281.18 million. The stock opened at $111.50, compared with a 52-week range of $30.89 to $187.50.

Legal & General Group Plc bought a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 105,086 shares of the company's stock, valued at approximately $16,502,000. Legal & General Group Plc owned approximately 0.10% of DigitalOcean as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of DOCN. Allworth Financial LP raised its stake in shares of DigitalOcean by 54.4% during the 3rd quarter. Allworth Financial LP now owns 724 shares of the company's stock worth $25,000 after acquiring an additional 255 shares in the last quarter. Parallel Advisors LLC grew its holdings in DigitalOcean by 66.2% in the first quarter. Parallel Advisors LLC now owns 324 shares of the company's stock worth $28,000 after purchasing an additional 129 shares during the last quarter. Huntington National Bank increased its position in shares of DigitalOcean by 638.3% during the fourth quarter. Huntington National Bank now owns 598 shares of the company's stock worth $29,000 after purchasing an additional 517 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of DigitalOcean during the 1st quarter valued at $33,000. Finally, Optiver Holding B.V. lifted its holdings in shares of DigitalOcean by 1,063.9% during the 1st quarter. Optiver Holding B.V. now owns 419 shares of the company's stock valued at $36,000 after purchasing an additional 383 shares during the last quarter. 49.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on DOCN. Weiss Ratings raised DigitalOcean from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. UBS Group dropped their price target on DigitalOcean from $155.00 to $140.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 5th. Truist Financial assumed coverage on shares of DigitalOcean in a report on Thursday. They set a "buy" rating and a $175.00 price objective on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $200.00 price objective on shares of DigitalOcean in a research report on Friday, July 10th. Finally, Morgan Stanley lifted their target price on shares of DigitalOcean from $75.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $152.81.

DigitalOcean Stock Up 0.3%

DigitalOcean stock opened at $111.50 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.31 and a current ratio of 1.31. The business's 50-day simple moving average is $128.72 and its two-hundred day simple moving average is $115.77. The company has a market cap of $11.64 billion, a PE ratio of 50.91, a PEG ratio of 95.20 and a beta of 1.61. DigitalOcean Holdings, Inc. has a fifty-two week low of $30.89 and a fifty-two week high of $187.50.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.19. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%.The firm had revenue of $281.18 million during the quarter, compared to analysts' expectations of $279.03 million. During the same period last year, the business posted $0.39 earnings per share. The company's revenue for the quarter was up 28.6% compared to the same quarter last year. 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 analysts anticipate that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current year.

Insiders Place Their Bets

In other news, 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 sale, the chief accounting officer directly owned 65,487 shares of the company's stock, valued at $8,668,514.19. This represents a 6.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Steinfort sold 10,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer owned 538,414 shares in the company, valued at $91,568,068.98. The trade was a 1.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 18,656 shares of company stock valued at $2,811,383. 0.96% of the stock is owned by insiders.

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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