SSI Investment Management LLC Acquires Shares of 33,000 DigitalOcean Holdings, Inc. $DOCN

SSI Investment Management LLC bought a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the second quarter, HoldingsChannel reports. The firm bought 33,000 shares of the company’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP increased its stake in shares of DigitalOcean by 54.4% in the 3rd quarter. Allworth Financial LP now owns 724 shares of the company’s stock worth $25,000 after acquiring an additional 255 shares in the last quarter. Parallel Advisors LLC boosted its stake in DigitalOcean by 66.2% during the first quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock worth $28,000 after acquiring an additional 129 shares in the last quarter. Huntington National Bank grew its holdings in DigitalOcean by 638.3% in the fourth quarter. Huntington National Bank now owns 598 shares of the company’s stock worth $29,000 after purchasing an additional 517 shares during the period. NBC Securities Inc. purchased a new stake in DigitalOcean in the fourth quarter worth about $32,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of DigitalOcean during the first quarter valued at approximately $33,000. 49.77% of the stock is owned by hedge funds and other institutional investors.

DigitalOcean Price Performance

Shares of DOCN opened at $116.60 on Thursday. DigitalOcean Holdings, Inc. has a twelve month low of $29.62 and a twelve month high of $187.50. The company has a market capitalization of $12.17 billion, a P/E ratio of 53.24, a price-to-earnings-growth ratio of 107.22 and a beta of 1.61. The firm has a 50 day moving average of $137.14 and a 200 day moving average of $113.05. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.14.

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, beating the consensus estimate of $0.26 by $0.19. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%.The business had revenue of $281.18 million for the quarter, compared to analysts’ expectations of $279.03 million. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly 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, equities research analysts anticipate that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Cherie Barrett sold 4,456 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $132.37, for a total transaction of $589,840.72. Following the sale, the chief accounting officer directly owned 65,487 shares of the company’s stock, valued at $8,668,514.19. This trade represents a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Steinfort sold 10,000 shares of DigitalOcean stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $170.07, for a total value of $1,700,700.00. Following the completion of the sale, the chief financial officer owned 538,414 shares of the company’s stock, valued at $91,568,068.98. The trade was a 1.82% 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. Insiders have sold a total of 18,656 shares of company stock valued at $2,811,383 over the last ninety days. 0.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DOCN. Weiss Ratings upgraded shares of DigitalOcean from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Morgan Stanley upped their price target on DigitalOcean from $75.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Stifel Nicolaus upgraded DigitalOcean from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $160.00 in a research note on Tuesday, July 21st. UBS Group lowered their price objective on DigitalOcean from $155.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Finally, KeyCorp initiated coverage on DigitalOcean in a report on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $151.33.

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.