DigitalOcean (NYSE:DOCN) CFO Sells $1,700,700.00 in Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) CFO Matt Steinfort sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.

Matt Steinfort also recently made the following trade(s):

• On Friday, May 15th, Matt Steinfort sold 25,000 shares of DigitalOcean stock. The stock was sold at an average price of $152.50, for a total transaction of $3,812,500.00.

DigitalOcean Stock Down 5.9%

Shares of DigitalOcean stock opened at $169.92 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.46 and a current ratio of 1.46. DigitalOcean Holdings, Inc. has a 52-week low of $25.56 and a 52-week high of $184.46. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of 74.20 and a beta of 1.60. The company’s 50 day moving average price is $122.61 and its 200-day moving average price is $79.41.

DigitalOcean (NYSE:DOCN) last issued its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.17. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The firm had revenue of $257.91 million for the quarter, compared to analysts’ expectations of $249.76 million. During the same quarter last year, the business earned $0.56 earnings per share. The business’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. Equities research analysts forecast that DigitalOcean Holdings, Inc. will post 0.54 EPS for the current year.

Analysts Set New Price Targets

DOCN has been the topic of several recent analyst reports. Oppenheimer set a $190.00 target price on shares of DigitalOcean in a report on Wednesday, May 6th. Citigroup raised their target price on shares of DigitalOcean from $115.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Cantor Fitzgerald raised their target price on shares of DigitalOcean from $68.00 to $83.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Canaccord Genuity Group lifted their price target on shares of DigitalOcean from $120.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Piper Sandler lifted their price target on shares of DigitalOcean from $98.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.36.

Institutional Trading of DigitalOcean

Several large investors have recently added to or reduced their stakes in DOCN. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in DigitalOcean by 5.0% in the first 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 acquiring an additional 16,162 shares in the last quarter. Intech Investment Management LLC lifted its position in DigitalOcean by 59.2% during the first 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 lifted its position in DigitalOcean by 126,552.2% during the second 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 position in DigitalOcean during the second quarter valued at $3,212,000. Finally, Qube Research & Technologies Ltd lifted its position in DigitalOcean by 69.7% during the second 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. Institutional investors own 49.77% of the company’s stock.

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.