Norris Financial Group LLC Makes New Investment in DigitalOcean Holdings, Inc. $DOCN

Norris Financial Group LLC bought a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 1st quarter, HoldingsChannel.com reports. The firm bought 84,335 shares of the company’s stock, valued at approximately $7,234,000. DigitalOcean accounts for 2.4% of Norris Financial Group LLC’s holdings, making the stock its 11th biggest position.

A number of other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in DigitalOcean by 14.8% in 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 during the last quarter. Parallel Advisors LLC raised its stake in shares of DigitalOcean by 66.2% in the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock valued at $28,000 after purchasing an additional 129 shares during the period. Maryland State Retirement & Pension System boosted its position in DigitalOcean by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company’s stock worth $481,000 after acquiring an additional 185 shares during the last quarter. Allworth Financial LP grew its position in DigitalOcean by 54.4% in the third quarter. Allworth Financial LP now owns 724 shares of the company’s stock valued at $25,000 after purchasing an additional 255 shares in the last quarter. Finally, CWM LLC grew its stake in DigitalOcean by 1.3% in the fourth quarter. CWM LLC now owns 20,971 shares of the company’s stock valued at $1,009,000 after purchasing an additional 270 shares in the last quarter. 49.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DOCN has been the subject of a number of recent analyst reports. Barclays cut their price objective on DigitalOcean from $184.00 to $160.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. Weiss Ratings lowered DigitalOcean from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Bank of America lifted their price target on DigitalOcean from $103.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Stifel Nicolaus raised DigitalOcean from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $160.00 in a report on Tuesday, July 21st. Finally, Citigroup increased their price objective on DigitalOcean from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.93.

Insider Transactions at DigitalOcean

In other DigitalOcean news, Director Hilary Schneider sold 4,338 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $156.38, for a total value of $678,376.44. Following the sale, the director owned 24,323 shares in the company, valued at $3,803,630.74. This trade represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Matt Steinfort sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $152.50, for a total value of $3,812,500.00. Following the completion of the transaction, the chief financial officer directly owned 573,272 shares of the company’s stock, valued at $87,423,980. This represents a 4.18% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 39,338 shares of company stock worth $6,191,576. Company insiders own 0.96% of the company’s stock.

DigitalOcean Trading Up 12.4%

Shares of DOCN stock opened at $120.02 on Friday. The stock has a market cap of $12.53 billion, a P/E ratio of 52.41 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. 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 stock has a 50 day simple moving average of $148.07 and a 200 day simple moving average of $105.98.

DigitalOcean (NYSE:DOCN) last issued its 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. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The company had revenue of $257.90 million during the quarter, compared to analysts’ expectations of $249.76 million. During the same period in the previous year, the company earned $0.56 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. 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 predict that DigitalOcean Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

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.