Tidal Investments LLC Sells 33,051 Shares of DigitalOcean Holdings, Inc. $DOCN

Tidal Investments LLC reduced its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 21.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 122,206 shares of the company’s stock after selling 33,051 shares during the period. Tidal Investments LLC’s holdings in DigitalOcean were worth $19,190,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of DigitalOcean by 16,016.1% during the second quarter. California State Teachers Retirement System now owns 14,211,058 shares of the company’s stock worth $2,231,562,000 after acquiring an additional 14,122,879 shares during the last quarter. Bank of America Corp DE bought a new position in DigitalOcean in the second quarter valued at about $241,945,000. Principal Financial Group Inc. increased its position in DigitalOcean by 155.3% in the first quarter. Principal Financial Group Inc. now owns 1,108,420 shares of the company’s stock worth $95,080,000 after purchasing an additional 674,231 shares during the period. Alyeska Investment Group L.P. acquired a new stake in DigitalOcean in the third quarter worth about $21,808,000. Finally, Bank of New York Mellon Corp bought a new stake in DigitalOcean during the 2nd quarter worth about $98,011,000. 49.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings downgraded shares of DigitalOcean from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. UBS Group lowered their price target on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. KeyCorp started coverage on shares of DigitalOcean in a research note on Tuesday, June 2nd. They set an “overweight” rating and a $200.00 price target for the company. Truist Financial began coverage on shares of DigitalOcean in a report on Thursday, August 27th. They issued a “buy” rating and a $175.00 price objective on the stock. Finally, Barclays raised their price objective on shares of DigitalOcean from $160.00 to $161.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $152.81.

Insider Activity at DigitalOcean

In other DigitalOcean news, Director Warren Adelman sold 4,200 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director owned 67,433 shares of the company’s stock, valued at approximately $8,362,366.33. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the chief accounting officer owned 65,487 shares in the company, valued at approximately $8,668,514.19. This trade represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 22,641 shares of company stock worth $2,589,317. 0.96% of the stock is currently owned by company insiders.

DigitalOcean Price Performance

Shares of DOCN opened at $130.78 on Friday. The stock has a market cap of $13.65 billion, a P/E ratio of 59.72, a price-to-earnings-growth ratio of 113.57 and a beta of 1.57. DigitalOcean Holdings, Inc. has a 1 year low of $33.69 and a 1 year high of $187.50. The stock’s 50-day moving average price is $122.95 and its two-hundred day moving average price is $118.97. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14.

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

About DigitalOcean

DigitalOcean Holdings, Inc provides cloud computing services designed primarily for developers, startups, and small and medium-sized businesses. Its platform offers on-demand infrastructure and developer tools intended to simplify the process of building, deploying, and scaling applications.

The company’s products include virtual machines known as Droplets, managed Kubernetes, managed databases, object storage through Spaces, block storage, networking services, and App Platform, a platform-as-a-service offering for application deployment.