Tidal Investments LLC Has $19.19 Million Stake in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Tidal Investments reduced its DigitalOcean stake by 21.3% in the second quarter, selling 33,051 shares and retaining 122,206 shares valued at approximately $19.19 million. Institutional investors collectively own 49.77% of the company.
• DigitalOcean insiders sold 22,641 shares worth about $2.59 million over the past 90 days, including sales by the CFO and chief accounting officer under pre-arranged plans to cover tax obligations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $152.81. The company recently exceeded quarterly earnings expectations, reporting $0.45 EPS and $281.18 million in revenue, up 28.6% year over year.

Tidal Investments LLC reduced its position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 21.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,206 shares of the company's stock after selling 33,051 shares during the quarter. Tidal Investments LLC owned approximately 0.12% of DigitalOcean worth $19,190,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in shares of DigitalOcean by 14.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company's stock valued at $47,000 after buying an additional 71 shares in the last quarter. Parallel Advisors LLC boosted 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 valued at $28,000 after acquiring an additional 129 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in shares of DigitalOcean by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company's stock valued at $481,000 after acquiring an additional 185 shares in the last quarter. Hilltop National Bank bought a new stake in DigitalOcean in the second quarter valued at about $38,000. Finally, Allworth Financial LP increased 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 and hedge funds own 49.77% of the company's stock.

Insider Activity

In other news, CFO Matt Steinfort sold 10,000 shares of the firm's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $105.73, for a total value of $1,057,300.00. Following the completion of the sale, the chief financial officer directly owned 503,692 shares in the company, valued at approximately $53,255,355.16. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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, CAO Cherie Barrett sold 3,985 shares of DigitalOcean stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $105.73, for a total value of $421,334.05. Following the completion of the transaction, the chief accounting officer directly owned 58,399 shares of the company's stock, valued at $6,174,526.27. This represents a 6.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last ninety days, insiders sold 22,641 shares of company stock worth $2,589,317. 0.96% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on DOCN. KeyCorp initiated coverage on shares of DigitalOcean in a research note on Tuesday, June 2nd. They set an "overweight" rating and a $200.00 price target for the company. Citigroup upped their price objective on DigitalOcean from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Stifel Nicolaus raised DigitalOcean from a "hold" rating to a "buy" rating and increased their target price for the stock from $135.00 to $160.00 in a report on Tuesday, July 21st. Barclays raised their target price on DigitalOcean from $160.00 to $161.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Finally, Truist Financial initiated coverage on DigitalOcean in a research note on Thursday, August 27th. They issued a "buy" rating and a $175.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.81.

DigitalOcean Stock Down 1.4%

Shares of DOCN opened at $130.78 on Friday. The company has a market capitalization of $13.65 billion, a P/E ratio of 59.72, a PEG ratio of 113.57 and a beta of 1.57. DigitalOcean Holdings, Inc. has a one year low of $33.69 and a one year high of $187.50. The business's 50 day simple moving average is $122.95 and its 200-day simple moving average is $118.97. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.31 and a quick ratio of 1.31.

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, beating analysts' consensus estimates 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 firm posted $0.39 EPS. The business's revenue was up 28.6% on a year-over-year basis. 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 predict that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.

About DigitalOcean

DigitalOcean Holdings, Inc provides cloud computing services designed primarily for developers, startups, and small and medium-sized businesses. Its platform offers on-demand infrastructure and developer tools intended to simplify the process of building, deploying, and scaling applications.

The company's products include virtual machines known as Droplets, managed Kubernetes, managed databases, object storage through Spaces, block storage, networking services, and App Platform, a platform-as-a-service offering for application deployment.

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.