DigitalOcean (NYSE:DOCN) CFO Matt Steinfort Sells 10,000 Shares

DigitalOcean Holdings, Inc. (NYSE:DOCN) CFO Matt Steinfort sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $105.73, for a total transaction of $1,057,300.00. Following the sale, the chief financial officer directly owned 503,692 shares in the company, valued at approximately $53,255,355.16. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.

DigitalOcean Stock Performance

Shares of DOCN stock opened at $109.50 on Friday. 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 Holdings, Inc. has a 52 week low of $30.89 and a 52 week high of $187.50. The stock has a market capitalization of $11.43 billion, a PE ratio of 50.00, a P/E/G ratio of 89.78 and a beta of 1.57. The firm has a 50 day moving average of $125.06 and a two-hundred day moving average of $117.00.

DigitalOcean (NYSE:DOCN) last announced 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 last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter 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, research analysts predict that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DOCN has been the topic of several research analyst reports. Stifel Nicolaus upgraded shares of DigitalOcean from a “hold” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $160.00 in a research note on Tuesday, July 21st. Truist Financial began coverage on DigitalOcean in a research report on Thursday, August 27th. They set a “buy” rating and a $175.00 target price on the stock. William Blair reissued an “outperform” rating on shares of DigitalOcean in a research report on Wednesday, July 15th. Citigroup raised their price target on DigitalOcean from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, UBS Group reduced 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. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $152.81.

Hedge Funds Weigh In On DigitalOcean

Several institutional investors have recently bought and sold shares of the company. Corient Private Wealth LP lifted its stake in shares of DigitalOcean by 662.2% in the 2nd quarter. Corient Private Wealth LP now owns 100,760 shares of the company’s stock worth $15,822,000 after acquiring an additional 87,540 shares during the period. Amundi lifted its position in DigitalOcean by 31.7% in the second quarter. Amundi now owns 30,674 shares of the company’s stock valued at $4,817,000 after purchasing an additional 7,389 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in DigitalOcean in the 2nd quarter valued at approximately $2,560,000. California State Teachers Retirement System increased its position in DigitalOcean by 16,016.1% during the 2nd quarter. California State Teachers Retirement System now owns 14,211,058 shares of the company’s stock worth $2,231,562,000 after purchasing an additional 14,122,879 shares during the period. Finally, AlphaGrep UK Ltd acquired a new position in DigitalOcean during the 2nd quarter worth approximately $604,000. 49.77% of the stock is owned by institutional investors and hedge funds.

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.