DigitalOcean Holdings, Inc. $DOCN Shares Sold by Viking Fund Management LLC

Viking Fund Management LLC cut its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 9.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,000 shares of the company’s stock after selling 7,000 shares during the quarter. Viking Fund Management LLC’s holdings in DigitalOcean were worth $10,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DOCN. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of DigitalOcean by 5.0% during 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 acquiring an additional 16,162 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of DigitalOcean by 59.2% during the 1st quarter. Intech Investment Management LLC now owns 39,429 shares of the company’s stock worth $1,317,000 after acquiring an additional 14,655 shares during the period. Amundi boosted its position in shares of DigitalOcean by 126,552.2% in the second quarter. Amundi now owns 29,130 shares of the company’s stock worth $827,000 after acquiring an additional 29,107 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of DigitalOcean in the second quarter worth approximately $3,212,000. Finally, Qube Research & Technologies Ltd grew its holdings in DigitalOcean by 69.7% in the second quarter. Qube Research & Technologies Ltd now owns 414,643 shares of the company’s stock valued at $11,842,000 after purchasing an additional 170,339 shares during the period. 49.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 transaction, the director owned 67,433 shares in the company, valued at approximately $8,362,366.33. The trade was a 5.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matt Steinfort sold 25,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $152.50, for a total transaction of $3,812,500.00. Following the sale, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 43,538 shares of company stock valued at $6,712,418. Company insiders own 0.96% of the company’s stock.

DigitalOcean Trading Up 10.2%

NYSE DOCN opened at $133.18 on Thursday. DigitalOcean Holdings, Inc. has a one year low of $29.62 and a one year high of $187.50. The company’s 50 day moving average price is $141.53 and its 200 day moving average price 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. The firm has a market capitalization of $13.90 billion, a price-to-earnings ratio of 60.81, a PEG ratio of 103.46 and a beta of 1.61.

DigitalOcean (NYSE:DOCN) last released 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 net margin of 23.26% and a return on equity of 31.01%. The company had revenue of $281.18 million during the quarter, compared to the consensus estimate of $279.03 million. During the same period in the previous year, the firm earned $0.39 earnings per share. DigitalOcean’s revenue for the quarter 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. On average, sell-side analysts predict that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on DOCN shares. Stifel Nicolaus raised shares of DigitalOcean from a “hold” rating to a “buy” rating and upped their price target for the stock from $135.00 to $160.00 in a research report on Tuesday, July 21st. Oppenheimer set a $190.00 price objective on shares of DigitalOcean in a research note on Wednesday, May 6th. Canaccord Genuity Group restated a “buy” rating and set a $200.00 price objective on shares of DigitalOcean in a report on Friday, July 10th. KeyCorp assumed coverage on DigitalOcean in a research report on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 target price on the stock. Finally, Robert W. Baird started coverage on DigitalOcean in a report on Tuesday, July 21st. They issued an “outperform” rating and a $165.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $151.33.

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.