Insight Wealth Strategies LLC Cuts Stock Holdings in DigitalOcean Holdings, Inc. $DOCN

Insight Wealth Strategies LLC decreased its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 31.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,882 shares of the company’s stock after selling 29,127 shares during the quarter. Insight Wealth Strategies LLC’s holdings in DigitalOcean were worth $9,236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D purchased a new stake in DigitalOcean in the 4th quarter valued at about $2,358,000. New York State Teachers Retirement System lifted its position in shares of DigitalOcean by 33.0% during the 4th quarter. New York State Teachers Retirement System now owns 49,310 shares of the company’s stock worth $2,373,000 after buying an additional 12,229 shares in the last quarter. Legato Capital Management LLC purchased a new position in shares of DigitalOcean in the 4th quarter worth approximately $1,365,000. Campbell Newman Asset Management Inc. purchased a new position in shares of DigitalOcean in the 4th quarter worth approximately $2,101,000. Finally, Fortis Capital Advisors LLC bought a new position in shares of DigitalOcean in the fourth quarter valued at approximately $1,020,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

DigitalOcean Stock Down 7.0%

Shares of NYSE DOCN opened at $120.68 on Wednesday. DigitalOcean Holdings, Inc. has a one year low of $28.79 and a one year high of $187.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.31 and a quick ratio of 1.31. The business’s fifty day moving average price is $142.34 and its 200-day moving average price is $110.03. The stock has a market capitalization of $12.59 billion, a PE ratio of 55.10, a P/E/G ratio of 121.20 and a beta of 1.61.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, topping 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 company had revenue of $281.18 million during the quarter, compared to analyst estimates of $279.03 million. During the same quarter last year, the firm posted $0.39 EPS. The firm’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, equities research analysts anticipate that DigitalOcean Holdings, Inc. will post 0.58 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Matt Steinfort sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $152.50, for a total value of $3,812,500.00. Following the sale, the chief financial officer owned 573,272 shares of the company’s stock, valued at $87,423,980. The trade was a 4.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hilary Schneider sold 4,338 shares of the business’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 transaction of $678,376.44. Following the completion of the sale, the director directly owned 24,323 shares in the company, valued at approximately $3,803,630.74. This trade represents a 15.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 43,538 shares of company stock worth $6,712,418 over the last quarter. 0.96% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on DOCN shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $200.00 price target on shares of DigitalOcean in a research report on Friday, July 10th. Piper Sandler boosted their price objective on DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group upped their price objective on DigitalOcean from $78.00 to $179.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Stifel Nicolaus upgraded DigitalOcean from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $160.00 in a research note on Tuesday, July 21st. Finally, William Blair reiterated an “outperform” rating on shares of DigitalOcean in a research note on Wednesday, July 15th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.