Insider Selling: DigitalOcean (NYSE:DOCN) CAO Sells $589,840.72 in Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) CAO Cherie Barrett sold 4,456 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $132.37, for a total transaction of $589,840.72. Following the sale, the chief accounting officer directly owned 65,487 shares of the company’s stock, valued at $8,668,514.19. This represents a 6.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

DigitalOcean Trading Down 6.9%

Shares of NYSE:DOCN opened at $116.60 on Thursday. The firm has a market cap of $12.17 billion, a price-to-earnings ratio of 53.24, a PEG ratio of 107.22 and a beta of 1.61. DigitalOcean Holdings, Inc. has a 12 month low of $29.62 and a 12 month high of $187.50. The company’s fifty day simple moving average is $137.14 and its 200 day simple moving average is $113.05. 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 announced its earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.19. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The firm had revenue of $281.18 million during the quarter, compared to analyst estimates of $279.03 million. During the same period in the prior year, the business earned $0.39 EPS. The company’s revenue for the quarter 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. As a group, research analysts forecast that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.

Institutional Trading of DigitalOcean

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in DigitalOcean by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,670 shares of the company’s stock valued at $11,342,000 after purchasing an additional 16,162 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of DigitalOcean by 59.2% during the 1st quarter. Intech Investment Management LLC now owns 39,429 shares of the company’s stock worth $1,317,000 after purchasing an additional 14,655 shares in the last quarter. Amundi boosted its holdings in shares of DigitalOcean by 126,552.2% in the 2nd quarter. Amundi now owns 29,130 shares of the company’s stock valued at $827,000 after buying an additional 29,107 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of DigitalOcean in the 2nd quarter valued at approximately $3,212,000. Finally, Qube Research & Technologies Ltd grew its stake in shares of DigitalOcean by 69.7% in the second quarter. Qube Research & Technologies Ltd now owns 414,643 shares of the company’s stock valued at $11,842,000 after buying an additional 170,339 shares in the last quarter. Institutional investors own 49.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DOCN. Barclays lifted their target price on DigitalOcean from $160.00 to $161.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of DigitalOcean from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Stifel Nicolaus upgraded shares of DigitalOcean from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $160.00 in a report on Tuesday, July 21st. Morgan Stanley boosted their price objective on shares of DigitalOcean from $75.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, UBS Group reduced their target price on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $151.33.

About DigitalOcean

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.