Edgestream Partners L.P. Takes Position in DigitalOcean Holdings, Inc. $DOCN

Edgestream Partners L.P. bought a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 1st quarter, HoldingsChannel reports. The fund bought 36,355 shares of the company’s stock, valued at approximately $3,119,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC lifted its position in DigitalOcean by 3.8% in the 1st quarter. Janus Henderson Group PLC now owns 33,376 shares of the company’s stock valued at $2,864,000 after acquiring an additional 1,235 shares in the last quarter. Amundi boosted its stake in DigitalOcean by 1.6% during the 1st quarter. Amundi now owns 23,285 shares of the company’s stock valued at $1,997,000 after purchasing an additional 370 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in DigitalOcean by 14.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company’s stock worth $47,000 after purchasing an additional 71 shares in the last quarter. California State Teachers Retirement System increased its holdings in DigitalOcean by 37.4% during the 1st quarter. California State Teachers Retirement System now owns 88,179 shares of the company’s stock worth $7,564,000 after purchasing an additional 23,985 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of DigitalOcean by 15.3% in the first quarter. Empowered Funds LLC now owns 25,910 shares of the company’s stock worth $2,223,000 after purchasing an additional 3,440 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Matt Steinfort sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the completion of the transaction, the chief financial officer directly owned 538,414 shares in the company, valued at $91,568,068.98. The trade was a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. Also, Director Hilary Schneider sold 4,338 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $156.38, for a total value of $678,376.44. Following the completion of the transaction, the director owned 24,323 shares in the company, valued at $3,803,630.74. This represents a 15.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 39,338 shares of company stock worth $6,191,576 in the last quarter. 0.96% of the stock is currently owned by company insiders.

DigitalOcean Stock Performance

DigitalOcean stock opened at $117.28 on Friday. The firm’s 50 day simple moving average is $147.24 and its 200 day simple moving average is $106.06. 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 firm has a market capitalization of $12.24 billion, a PE ratio of 51.22 and a beta of 1.57. DigitalOcean Holdings, Inc. has a 1-year low of $25.56 and a 1-year high of $187.50.

DigitalOcean (NYSE:DOCN) last announced its quarterly 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. The firm had revenue of $257.90 million during the quarter, compared to the consensus estimate of $249.76 million. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. As a group, analysts expect that DigitalOcean Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Robert W. Baird started coverage on DigitalOcean in a report on Tuesday, July 21st. They issued an “outperform” rating and a $165.00 target price on the stock. Piper Sandler upped their price target on DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Oppenheimer set a $190.00 price objective on DigitalOcean in a research note on Wednesday, May 6th. William Blair reaffirmed an “outperform” rating on shares of DigitalOcean in a report on Wednesday, July 15th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $200.00 target price on shares of DigitalOcean in a research note on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $151.93.

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.