Thrivent Financial for Lutherans Cuts Stock Position in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Thrivent Financial for Lutherans reduced its stake in DigitalOcean by 32.8% in the fourth quarter, selling 99,210 shares and ending with 203,294 shares valued at about $9.78 million.
• Insider selling has also been notable, with CFO Matt Steinfort and CAO Cherie Barrett both trimming holdings; insiders sold 71,338 shares worth about $6.8 million over the last 90 days.
• DigitalOcean recently beat earnings and revenue estimates, reporting EPS of $0.44 versus $0.27 expected and revenue of $257.91 million, while analysts now hold a consensus rating of Moderate Buy with an average price target of $142.23.

Thrivent Financial for Lutherans lessened its position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 32.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 203,294 shares of the company's stock after selling 99,210 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.22% of DigitalOcean worth $9,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DOCN. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of DigitalOcean by 5.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,670 shares of the company's stock valued at $11,342,000 after buying an additional 16,162 shares during the period. Intech Investment Management LLC raised its holdings in shares of DigitalOcean by 59.2% in the 1st quarter. Intech Investment Management LLC now owns 39,429 shares of the company's stock valued at $1,317,000 after buying an additional 14,655 shares during the period. Amundi raised its holdings in shares of DigitalOcean by 126,552.2% in the 2nd quarter. Amundi now owns 29,130 shares of the company's stock valued at $827,000 after buying an additional 29,107 shares during the period. Jump Financial LLC purchased a new stake in shares of DigitalOcean in the 2nd quarter valued at $3,212,000. Finally, Qube Research & Technologies Ltd raised its holdings in shares of DigitalOcean by 69.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 414,643 shares of the company's stock valued at $11,842,000 after buying an additional 170,339 shares during the period. Hedge funds and other institutional investors own 49.77% of the company's stock.

Insider Activity

In other news, CFO Matt Steinfort sold 25,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $3,812,500.00. Following the transaction, the chief financial officer owned 573,272 shares in the company, valued at approximately $87,423,980. This represents a 4.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Cherie Barrett sold 22,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $54.77, for a total value of $1,204,940.00. Following the completion of the transaction, the chief accounting officer owned 62,469 shares in the company, valued at approximately $3,421,427.13. The trade was a 26.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 71,338 shares of company stock worth $6,803,816. 0.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DOCN shares. Cantor Fitzgerald boosted their price objective on DigitalOcean from $68.00 to $83.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Weiss Ratings restated a "hold (c+)" rating on shares of DigitalOcean in a report on Friday, March 27th. The Goldman Sachs Group upped their price target on DigitalOcean from $78.00 to $179.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Citizens Jmp upped their price target on DigitalOcean from $83.00 to $105.00 and gave the stock a "market outperform" rating in a report on Thursday, March 26th. Finally, Barclays upped their price target on DigitalOcean from $105.00 to $183.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $142.23.

DigitalOcean Price Performance

Shares of NYSE DOCN opened at $150.01 on Wednesday. The stock's 50-day moving average is $99.72 and its two-hundred day moving average is $68.82. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.46 and a quick ratio of 1.46. DigitalOcean Holdings, Inc. has a 1-year low of $25.56 and a 1-year high of $164.77. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 65.51 and a beta of 1.42.

DigitalOcean (NYSE:DOCN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.17. DigitalOcean had a return on equity of 88.86% and a net margin of 24.97%.The company had revenue of $257.91 million for the quarter, compared to the consensus estimate of $249.76 million. During the same quarter in the prior year, the business earned $0.56 EPS. DigitalOcean's 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. Analysts forecast that DigitalOcean Holdings, Inc. will post 0.55 EPS for the current fiscal year.

DigitalOcean Company 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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