Elevation Point Wealth Partners LLC Takes Position in DigitalOcean Holdings, Inc. $DOCN

Elevation Point Wealth Partners LLC bought a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 4,166 shares of the company’s stock, valued at approximately $357,000.

Several other hedge funds also recently bought and sold shares of DOCN. Strs Ohio increased its stake in DigitalOcean by 1,575.0% in the 1st quarter. Strs Ohio now owns 6,700 shares of the company’s stock worth $575,000 after buying an additional 6,300 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in shares of DigitalOcean in the first quarter valued at about $13,530,000. Janney Montgomery Scott LLC bought a new position in shares of DigitalOcean in the first quarter worth about $402,000. Pictet Asset Management Holding SA boosted its stake in shares of DigitalOcean by 22.3% in the first quarter. Pictet Asset Management Holding SA now owns 11,653 shares of the company’s stock worth $1,000,000 after acquiring an additional 2,128 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in shares of DigitalOcean in the first quarter worth about $2,608,000. Institutional investors own 49.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DOCN. Citizens Jmp lifted their target price on DigitalOcean from $83.00 to $105.00 and gave the company a “market outperform” rating in a research note on Thursday, March 26th. KeyCorp began coverage on DigitalOcean in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 price target for the company. Canaccord Genuity Group restated a “buy” rating and issued a $200.00 price target on shares of DigitalOcean in a research note on Thursday, June 11th. Barclays increased their price objective on shares of DigitalOcean from $183.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Piper Sandler lifted their price objective on shares of DigitalOcean from $98.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.36.

DigitalOcean Stock Up 0.5%

DOCN opened at $141.13 on Friday. The company has a market capitalization of $14.73 billion, a PE ratio of 61.63 and a beta of 1.57. The firm has a 50-day simple moving average of $155.69 and a two-hundred day simple moving average of $98.28. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.92. DigitalOcean Holdings, Inc. has a 52 week low of $25.56 and a 52 week high of $187.50.

DigitalOcean (NYSE:DOCN) last issued its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.17. The firm had revenue of $257.90 million for the quarter, compared to analysts’ expectations of $249.76 million. DigitalOcean had a return on equity of 88.86% and a net margin of 24.97%.The business’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 earnings per share. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. Analysts forecast that DigitalOcean Holdings, Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Activity at DigitalOcean

In other news, CFO Matt Steinfort sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $152.50, for a total transaction of $3,812,500.00. Following the sale, the chief financial officer directly owned 573,272 shares of the company’s stock, valued at $87,423,980. This represents a 4.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hilary Schneider sold 4,338 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $156.38, for a total value of $678,376.44. Following the transaction, the director owned 24,323 shares of the company’s stock, valued at $3,803,630.74. This represents a 15.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,338 shares of company stock valued at $6,191,576 in the last 90 days. 0.96% of the stock is currently owned by company insiders.

DigitalOcean 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.