DigitalOcean (NYSE:DOCN) CFO Matt Steinfort Sells 10,000 Shares

DigitalOcean Holdings, Inc. (NYSE:DOCN) 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 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 sale was disclosed in a filing with the SEC, which is accessible 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.

Matt Steinfort also recently made the following trade(s):

• On Friday, May 15th, Matt Steinfort sold 25,000 shares of DigitalOcean stock. The shares were sold at an average price of $152.50, for a total transaction of $3,812,500.00.

DigitalOcean Stock Up 0.3%

DOCN stock opened at $173.60 on Thursday. 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’s 50-day moving average price is $119.03 and its 200 day moving average price is $77.82. DigitalOcean Holdings, Inc. has a 52 week low of $25.56 and a 52 week high of $179.81. The company has a market cap of $18.12 billion, a P/E ratio of 75.81 and a beta of 1.60.

DigitalOcean (NYSE:DOCN) last issued its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.17. The company had revenue of $257.91 million during the quarter, compared to analysts’ expectations of $249.76 million. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the company 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. On average, research analysts expect that DigitalOcean Holdings, Inc. will post 0.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DOCN has been the topic of a number of research analyst reports. Bank of America boosted their target price on DigitalOcean from $103.00 to $107.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Stifel Nicolaus set a $57.00 price target on DigitalOcean in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of DigitalOcean in a research report on Friday, March 27th. Cantor Fitzgerald increased their price objective on shares of DigitalOcean from $68.00 to $83.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada set a $60.00 target price on shares of DigitalOcean in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $146.36.

Institutional Trading of DigitalOcean

Several institutional investors and hedge funds have recently made changes to their positions in DOCN. Allworth Financial LP increased its position in DigitalOcean by 54.4% during the 3rd quarter. Allworth Financial LP now owns 724 shares of the company’s stock worth $25,000 after purchasing an additional 255 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of DigitalOcean by 66.2% during the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock worth $28,000 after purchasing an additional 129 shares during the last quarter. Huntington National Bank grew its holdings in shares of DigitalOcean by 638.3% during the fourth quarter. Huntington National Bank now owns 598 shares of the company’s stock worth $29,000 after buying an additional 517 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of DigitalOcean in the fourth quarter valued at approximately $32,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of DigitalOcean in the first quarter valued at approximately $33,000. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

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.