Peregrine Capital Management LLC Sells 37,565 Shares of DigitalOcean Holdings, Inc. $DOCN

Peregrine Capital Management LLC lowered its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 23.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,159 shares of the company’s stock after selling 37,565 shares during the period. Peregrine Capital Management LLC owned 0.12% of DigitalOcean worth $18,869,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of DigitalOcean by 11.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,420,341 shares of the company’s stock worth $116,467,000 after acquiring an additional 252,303 shares during the period. Lazard Asset Management LLC raised its stake in shares of DigitalOcean by 34.5% during the 2nd quarter. Lazard Asset Management LLC now owns 1,660,731 shares of the company’s stock valued at $47,430,000 after purchasing an additional 426,264 shares during the period. Van Berkom & Associates Inc. lifted its holdings in DigitalOcean by 2.9% during the 4th quarter. Van Berkom & Associates Inc. now owns 1,610,671 shares of the company’s stock worth $77,505,000 after purchasing an additional 45,680 shares in the last quarter. First Trust Advisors LP lifted its holdings in DigitalOcean by 9.3% during the 1st quarter. First Trust Advisors LP now owns 1,441,151 shares of the company’s stock worth $123,622,000 after purchasing an additional 122,675 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in DigitalOcean by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,359,695 shares of the company’s stock worth $65,432,000 after purchasing an additional 31,682 shares during the period. 49.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Hilary Schneider sold 4,338 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $156.38, for a total value of $678,376.44. Following the sale, the director directly owned 24,323 shares of the company’s stock, valued at $3,803,630.74. This trade represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Warren J. Adelman sold 4,200 shares of DigitalOcean stock in a transaction that occurred 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 sale, the director owned 67,433 shares of the company’s stock, valued at approximately $8,362,366.33. The trade was a 5.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 43,538 shares of company stock worth $6,712,418. Insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DOCN shares. Piper Sandler lifted their target price on DigitalOcean from $98.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. UBS Group lowered their price target on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. KeyCorp initiated coverage on shares of DigitalOcean in a research report on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 price objective for the company. Oppenheimer set a $190.00 price objective on shares of DigitalOcean in a research note on Wednesday, May 6th. Finally, Citigroup upped their target price on shares of DigitalOcean from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $151.33.

DigitalOcean Price Performance

Shares of NYSE DOCN opened at $133.18 on Thursday. The firm has a market capitalization of $13.90 billion, a P/E ratio of 60.81, a P/E/G ratio of 103.46 and a beta of 1.61. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.14. The stock’s 50-day simple moving average is $141.53 and its two-hundred day simple moving average is $110.58. DigitalOcean Holdings, Inc. has a twelve month low of $29.62 and a twelve month high of $187.50.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter last year, the company 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. As a group, equities analysts anticipate that DigitalOcean Holdings, Inc. will post 0.63 EPS 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.