Persistent Asset Partners Ltd Takes $1.19 Million Position in DigitalOcean Holdings, Inc. $DOCN

Persistent Asset Partners Ltd bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,550 shares of the company’s stock, valued at approximately $1,186,000.

A number of other institutional investors have also added to or reduced their stakes in DOCN. Principal Financial Group Inc. raised its holdings in DigitalOcean by 155.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,108,420 shares of the company’s stock valued at $95,080,000 after acquiring an additional 674,231 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of DigitalOcean during the third quarter valued at approximately $21,808,000. Bank of New York Mellon Corp bought a new stake in shares of DigitalOcean during the second quarter valued at approximately $98,011,000. Arrowstreet Capital Limited Partnership raised its stake in shares of DigitalOcean by 90.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,194,845 shares of the company’s stock valued at $57,496,000 after purchasing an additional 568,823 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of DigitalOcean by 784.2% in the fourth quarter. Franklin Resources Inc. now owns 494,314 shares of the company’s stock valued at $23,786,000 after purchasing an additional 438,411 shares in the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group decreased their price target on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Canaccord Genuity Group restated a “buy” rating and issued a $200.00 price objective on shares of DigitalOcean in a research note on Friday, July 10th. Morgan Stanley raised their price objective on shares of DigitalOcean from $75.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. KeyCorp started coverage on shares of DigitalOcean in a research report on Tuesday, June 2nd. They set an “overweight” rating and a $200.00 target price on the stock. Finally, Piper Sandler upped their target price on shares of DigitalOcean from $98.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, DigitalOcean has a consensus rating of “Buy” and an average price target of $151.33.

Insiders Place Their Bets

In other news, CFO Matt Steinfort sold 10,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer 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 legal filing with the SEC, which is available through this link. 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 Warren J. Adelman sold 4,200 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $124.01, for a total value of $520,842.00. Following the transaction, the director directly owned 67,433 shares in the company, valued at $8,362,366.33. This trade represents a 5.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.96% of the stock is currently owned by company insiders.

DigitalOcean Trading Up 0.0%

Shares of DigitalOcean stock opened at $129.95 on Monday. The stock has a market capitalization of $13.56 billion, a P/E ratio of 59.34, a price-to-earnings-growth ratio of 111.22 and a beta of 1.61. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.14. The company has a 50-day simple moving average of $139.76 and a 200 day simple moving average of $111.64. DigitalOcean Holdings, Inc. has a 12-month low of $29.62 and a 12-month high of $187.50.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.19. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%.The business had revenue of $281.18 million for the quarter, compared to analyst estimates of $279.03 million. During the same period in the prior year, the company earned $0.39 EPS. DigitalOcean’s revenue for the quarter was up 28.6% on a year-over-year basis. DigitalOcean has set its FY 2026 guidance at 1.350-1.400 EPS and its Q3 2026 guidance at 0.280-0.300 EPS. Research analysts expect that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current fiscal year.

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.