DigitalOcean Holdings, Inc. (NYSE:DOCN - Get Free Report) CAO Cherie Barrett sold 4,456 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $132.37, for a total value of $589,840.72. Following the transaction, the chief accounting officer directly owned 65,487 shares in the company, valued at $8,668,514.19. This trade represents a 6.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
DigitalOcean Trading Up 4.0%
NYSE DOCN opened at $135.14 on Tuesday. DigitalOcean Holdings, Inc. has a 12 month low of $29.62 and a 12 month 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 stock has a 50 day moving average of $139.08 and a 200-day moving average of $112.17. The company has a market cap of $14.10 billion, a PE ratio of 61.71, a PEG ratio of 111.22 and a beta of 1.61.
DigitalOcean (NYSE:DOCN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.19. The firm had revenue of $281.18 million for the quarter, compared to analyst estimates of $279.03 million. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The company's quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. 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 0.63 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on DOCN shares. UBS Group cut their target price on shares of DigitalOcean from $155.00 to $140.00 and set a "neutral" rating for the company in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of DigitalOcean from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Robert W. Baird initiated coverage on DigitalOcean in a research report on Tuesday, July 21st. They issued an "outperform" rating and a $165.00 target price on the stock. The Goldman Sachs Group raised their price target 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. Finally, Piper Sandler boosted their price target on DigitalOcean from $98.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $151.33.
View Our Latest Analysis on DigitalOcean
Hedge Funds Weigh In On DigitalOcean
Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of DigitalOcean by 14.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company's stock valued at $47,000 after buying an additional 71 shares in the last quarter. Parallel Advisors LLC increased its stake in DigitalOcean by 66.2% in the first quarter. Parallel Advisors LLC now owns 324 shares of the company's stock valued at $28,000 after acquiring an additional 129 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in DigitalOcean by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company's stock valued at $481,000 after acquiring an additional 185 shares during the last quarter. Hilltop National Bank acquired a new position in DigitalOcean during the second quarter valued at approximately $38,000. Finally, Allworth Financial LP lifted its stake in DigitalOcean by 54.4% during the third quarter. Allworth Financial LP now owns 724 shares of the company's stock worth $25,000 after purchasing an additional 255 shares during the last quarter. 49.77% of the stock is owned by institutional investors.
DigitalOcean Company Profile
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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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