CenterBook Partners LP Makes New Investment in DigitalOcean Holdings, Inc. $DOCN

CenterBook Partners LP purchased a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 78,866 shares of the company’s stock, valued at approximately $3,795,000.

Other institutional investors have also recently bought and sold shares of the company. Bullseye Asset Management LLC increased its position in 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 buying an additional 72,300 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in DigitalOcean during the fourth quarter worth approximately $2,358,000. New York State Teachers Retirement System increased its position in DigitalOcean by 33.0% during the fourth 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 last quarter. Segall Bryant & Hamill LLC acquired a new position in DigitalOcean during the third quarter worth approximately $8,951,000. Finally, SG Americas Securities LLC increased its position in DigitalOcean by 266.1% during the fourth quarter. SG Americas Securities LLC now owns 167,126 shares of the company’s stock worth $8,042,000 after buying an additional 121,473 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company’s stock.

DigitalOcean Price Performance

DigitalOcean stock opened at $169.17 on Tuesday. DigitalOcean Holdings, Inc. has a 12 month low of $25.56 and a 12 month high of $184.46. The stock’s 50 day moving average is $124.29 and its 200-day moving average is $80.54. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $17.65 billion, a price-to-earnings ratio of 73.87 and a beta of 1.59.

DigitalOcean (NYSE:DOCN) last posted its earnings results on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.27 by $0.17. DigitalOcean had a return on equity of 88.86% and a net margin of 24.97%.The company had revenue of $257.91 million for the quarter, compared to the consensus estimate of $249.76 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. Equities research analysts expect that DigitalOcean Holdings, Inc. will post 0.54 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on DOCN. Canaccord Genuity Group boosted their price target on DigitalOcean from $120.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of DigitalOcean in a research report on Friday, March 27th. Citizens Jmp boosted their price target on DigitalOcean from $83.00 to $105.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 26th. Barclays boosted their price target on DigitalOcean from $105.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Citigroup boosted their price target on DigitalOcean from $115.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.36.

Insider Activity at DigitalOcean

In other news, Director Hilary Schneider sold 4,338 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was 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 approximately $3,803,630.74. This represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matt Steinfort sold 25,000 shares of the company’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 completion of the transaction, the chief financial officer directly owned 573,272 shares in the company, valued at $87,423,980. The trade was a 4.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 39,338 shares of company stock worth $6,191,576 in the last ninety days. 0.96% of the stock is 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.