Key Points
- DigitalOcean CFO Matt Steinfort sold 10,000 shares on June 2 at an average price of $170.07, generating about $1.7 million. The sale was made under a pre-arranged Rule 10b5-1 plan and was tied to tax withholding for vested equity awards.
- After the transaction, Steinfort still held 538,414 shares valued at roughly $91.6 million, representing a 1.82% reduction in his position. He also recently sold 25,000 shares on May 15 for about $3.8 million.
- DigitalOcean shares were trading near recent highs, with the stock opening at $173.60 and the 12-month high at $179.81. The company also recently reported strong quarterly results, including EPS of $0.44 versus expectations of $0.27 and revenue up 22.4% year over year.
DigitalOcean Holdings, Inc. (NYSE:DOCN - Get Free Report) CFO Matt Steinfort sold 10,000 shares of DigitalOcean stock in a transaction on Tuesday, June 2nd. The shares were 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 directly owned 538,414 shares of the company's stock, valued at approximately $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 accessible 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.
Matt Steinfort also recently made the following trade(s):
- On Friday, May 15th, Matt Steinfort sold 25,000 shares of DigitalOcean stock. The stock was sold at an average price of $152.50, for a total value of $3,812,500.00.
DigitalOcean Stock Up 0.3%
DOCN opened at $173.60 on Thursday. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of 75.81 and a beta of 1.60. DigitalOcean Holdings, Inc. has a 12 month low of $25.56 and a 12 month high of $179.81. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.46 and a quick ratio of 1.46. The business has a 50-day moving average of $119.03 and a two-hundred day moving average of $77.82.
DigitalOcean (NYSE:DOCN - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.17. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The firm had revenue of $257.91 million during the quarter, compared to the consensus estimate of $249.76 million. During the same period in the previous year, the firm earned $0.56 earnings per share. DigitalOcean's revenue was up 22.4% compared to the same quarter last year. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. On average, research analysts expect that DigitalOcean Holdings, Inc. will post 0.55 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. Stifel Nicolaus set a $57.00 target price on DigitalOcean in a research report on Tuesday, February 24th. Morgan Stanley lifted their price objective on DigitalOcean from $75.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group increased their target price on shares of DigitalOcean from $78.00 to $179.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Citigroup lifted their price target on shares of DigitalOcean from $115.00 to $180.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada set a $60.00 price objective on shares of DigitalOcean in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, DigitalOcean currently has an average rating of "Moderate Buy" and an average target price of $146.36.
View Our Latest Report on DOCN
Institutional Investors Weigh In On DigitalOcean
A number of large investors have recently modified their holdings of the stock. Bullseye Asset Management LLC lifted its position in shares of DigitalOcean by 267.8% during the third quarter. Bullseye Asset Management LLC now owns 99,300 shares of the company's stock worth $3,392,000 after purchasing an additional 72,300 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in DigitalOcean during the 4th quarter worth $2,358,000. New York State Teachers Retirement System increased its stake in 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 during the period. Van Berkom & Associates Inc. lifted its holdings in DigitalOcean by 33.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,564,991 shares of the company's stock worth $53,460,000 after buying an additional 389,161 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its position in DigitalOcean by 27.2% in the 3rd quarter. Penserra Capital Management LLC now owns 293,132 shares of the company's stock valued at $10,013,000 after buying an additional 62,725 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company's stock.
DigitalOcean Company Profile
(
Get Free Report)
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.
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