Castleark Management LLC Purchases Shares of 35,537 DigitalOcean Holdings, Inc. $DOCN

Castleark Management LLC acquired a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 35,537 shares of the company’s stock, valued at approximately $5,580,000.

A number of other institutional investors have also recently made changes to their positions in DOCN. Hilltop National Bank purchased a new stake in shares of DigitalOcean in the second quarter worth about $38,000. Rakuten Securities Inc. purchased a new position in DigitalOcean during the 2nd quarter valued at approximately $43,000. Parallel Advisors LLC increased its stake in DigitalOcean by 66.2% in the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock worth $28,000 after acquiring an additional 129 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of DigitalOcean during the 1st quarter worth approximately $33,000. Finally, LRI Investments LLC bought a new position in shares of DigitalOcean during the 2nd quarter valued at approximately $64,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Insider Buying and Selling

In other DigitalOcean news, CAO Cherie Barrett sold 4,456 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $132.37, for a total value of $589,840.72. Following the completion of the sale, the chief accounting officer owned 65,487 shares of the company’s stock, valued at $8,668,514.19. This trade represents a 6.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Steinfort sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 538,414 shares of the company’s stock, valued at $91,568,068.98. This trade represents a 1.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 18,656 shares of company stock valued at $2,811,383. Company insiders own 0.96% of the company’s stock.

DigitalOcean Stock Up 0.7%

Shares of DOCN opened at $112.32 on Wednesday. The company has a market cap of $11.72 billion, a PE ratio of 51.29, a P/E/G ratio of 95.48 and a beta of 1.61. The business has a fifty day moving average of $132.23 and a 200 day moving average of $114.62. DigitalOcean Holdings, Inc. has a 52-week low of $30.36 and a 52-week high of $187.50. 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 (NYSE:DOCN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.26 by $0.19. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The company had revenue of $281.18 million during the quarter, compared to analyst estimates of $279.03 million. During the same period in the previous year, the firm earned $0.39 earnings per share. DigitalOcean’s quarterly revenue 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, sell-side analysts expect that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on DOCN shares. The Goldman Sachs Group raised their target price on shares of DigitalOcean from $78.00 to $179.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Stifel Nicolaus raised shares of DigitalOcean from a “hold” rating to a “buy” rating and upped their price target for the company from $135.00 to $160.00 in a research note on Tuesday, July 21st. Oppenheimer set a $190.00 price objective on shares of DigitalOcean in a research report on Wednesday, May 6th. UBS Group dropped their price objective 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. Finally, Robert W. Baird began coverage on shares of DigitalOcean in a report on Tuesday, July 21st. They issued an “outperform” rating and a $165.00 target price on the stock. Two investment 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $151.33.

DigitalOcean Company 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.