Spire Wealth Management Invests $3.51 Million in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Spire Wealth Management purchased a new $3.51 million stake in DigitalOcean during the second quarter, acquiring 22,431 shares. Institutional investors now own 49.77% of the company.
• Analysts remain broadly bullish, with an average “Buy” rating and a consensus price target of $151.33; Morgan Stanley, Citigroup and Goldman Sachs recently raised their targets.
• DigitalOcean reported quarterly EPS of $0.45, exceeding estimates by $0.19, while revenue rose 28.6% year over year to $281.18 million. Meanwhile, insiders sold 43,538 shares worth $6.71 million over the past 90 days.

Spire Wealth Management purchased a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 22,431 shares of the company's stock, valued at approximately $3,513,000.

Several other large investors have also recently bought and sold shares of DOCN. EverSource Wealth Advisors LLC boosted its position in shares of DigitalOcean by 14.8% during the first quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company's stock worth $47,000 after purchasing an additional 71 shares in the last quarter. Parallel Advisors LLC raised its stake 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 raised its stake in DigitalOcean by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company's stock worth $481,000 after buying an additional 185 shares during the period. Hilltop National Bank bought a new position in DigitalOcean during the second quarter worth about $38,000. Finally, Allworth Financial LP grew its stake 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 acquiring an additional 255 shares during the period. Institutional investors own 49.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley raised their price target on DigitalOcean from $75.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Weiss Ratings raised DigitalOcean from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday. Barclays raised their target price on shares of DigitalOcean from $160.00 to $161.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Citigroup upped their price target on shares of DigitalOcean from $185.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group raised their price objective on shares of DigitalOcean from $78.00 to $179.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $151.33.

Insider Buying and Selling

In related news, CFO Matt Steinfort sold 25,000 shares of the firm's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $152.50, for a total value of $3,812,500.00. Following the completion of the transaction, the chief financial officer owned 573,272 shares of the company's stock, valued at approximately $87,423,980. This trade represents a 4.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Warren J. Adelman sold 4,200 shares of DigitalOcean stock in a transaction 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 completion of the sale, the director owned 67,433 shares in the company, valued at $8,362,366.33. The trade was a 5.86% 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 43,538 shares of company stock worth $6,712,418. 0.96% of the stock is owned by insiders.

DigitalOcean Stock Up 10.2%

Shares of DigitalOcean stock opened at $133.18 on Thursday. The firm has a market cap of $13.90 billion, a PE ratio of 60.81, a P/E/G ratio of 103.46 and a beta of 1.61. The business's 50 day simple moving average is $141.53 and its 200 day simple moving average is $110.58. 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 52-week low of $29.62 and a 52-week high of $187.50.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.19. The firm 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%.The business's revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. DigitalOcean has set its FY 2026 guidance at 1.350-1.400 EPS and its Q3 2026 guidance at 0.280-0.300 EPS. On average, analysts predict that DigitalOcean Holdings, Inc. will post 0.63 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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