Clay Northam Wealth Management LLC Acquires Shares of 21,511 DigitalOcean Holdings, Inc. $DOCN

Clay Northam Wealth Management LLC purchased a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 21,511 shares of the company’s stock, valued at approximately $3,378,000. DigitalOcean accounts for approximately 1.7% of Clay Northam Wealth Management LLC’s investment portfolio, making the stock its 15th largest holding.

Several other hedge funds also recently added to or reduced their stakes in DOCN. Fuller & Thaler Asset Management Inc. lifted its position in shares of DigitalOcean by 11.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,420,341 shares of the company’s stock valued at $116,467,000 after buying an additional 252,303 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of DigitalOcean by 34.5% in the second quarter. Lazard Asset Management LLC now owns 1,660,731 shares of the company’s stock valued at $47,430,000 after acquiring an additional 426,264 shares in the last quarter. Van Berkom & Associates Inc. grew its stake 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 position in shares of 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 during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in DigitalOcean by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,359,695 shares of the company’s stock valued at $65,432,000 after buying an additional 31,682 shares during the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus upgraded shares of 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 research note on Tuesday, July 21st. UBS Group cut their target price on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Robert W. Baird initiated coverage on DigitalOcean in a research note on Tuesday, July 21st. They issued an “outperform” rating and a $165.00 price target on the stock. Morgan Stanley raised their price objective on shares of DigitalOcean from $75.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $200.00 price target on shares of DigitalOcean in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $151.33.

Insider Buying and Selling

In related news, CFO Matt Steinfort sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the completion of the sale, the chief financial officer owned 538,414 shares in the company, valued at $91,568,068.98. This represents a 1.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 4,456 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $132.37, for a total transaction of $589,840.72. Following the transaction, the chief accounting officer owned 65,487 shares in the company, valued at approximately $8,668,514.19. The trade was a 6.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,656 shares of company stock worth $2,811,383 in the last quarter. 0.96% of the stock is currently owned by company insiders.

DigitalOcean Price Performance

DOCN stock opened at $114.73 on Friday. DigitalOcean Holdings, Inc. has a one year low of $29.62 and a one year high of $187.50. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $11.97 billion, a PE ratio of 52.39, a P/E/G ratio of 99.87 and a beta of 1.61. The firm has a 50-day moving average of $135.95 and a two-hundred day moving average of $113.47.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.19. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The business had revenue of $281.18 million during the quarter, compared to analyst estimates of $279.03 million. During the same period in the prior year, the firm earned $0.39 earnings per share. The firm’s revenue was up 28.6% compared to the same quarter last year. 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, analysts forecast that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current year.

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.