Ninepoint Partners LP Makes New $1.71 Million Investment in DigitalOcean Holdings, Inc. $DOCN

Ninepoint Partners LP purchased a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,876 shares of the company’s stock, valued at approximately $1,708,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. grew its position in shares of DigitalOcean by 11.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,420,341 shares of the company’s stock worth $116,467,000 after buying an additional 252,303 shares during the period. Lazard Asset Management LLC lifted its position in shares of DigitalOcean by 34.5% during the 2nd quarter. Lazard Asset Management LLC now owns 1,660,731 shares of the company’s stock valued at $47,430,000 after acquiring an additional 426,264 shares during the period. Van Berkom & Associates Inc. boosted its stake in DigitalOcean by 2.9% during the fourth quarter. Van Berkom & Associates Inc. now owns 1,610,671 shares of the company’s stock worth $77,505,000 after acquiring an additional 45,680 shares in the last quarter. First Trust Advisors LP grew its holdings in DigitalOcean by 9.3% in the first quarter. First Trust Advisors LP now owns 1,441,151 shares of the company’s stock worth $123,622,000 after purchasing an additional 122,675 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in DigitalOcean by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,359,695 shares of the company’s stock worth $65,432,000 after purchasing an additional 31,682 shares during the period. 49.77% of the stock is currently owned by institutional investors.

DigitalOcean Stock Down 1.7%

Shares of NYSE DOCN opened at $114.73 on Friday. The stock has a market capitalization of $11.97 billion, a P/E ratio of 52.39, a P/E/G ratio of 99.87 and a beta of 1.61. The company has a 50-day moving average price of $135.95 and a 200-day moving average price of $113.47. DigitalOcean Holdings, Inc. has a 1 year low of $29.62 and a 1 year high of $187.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.31 and a quick ratio of 1.31.

DigitalOcean (NYSE:DOCN) last posted 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 company had revenue of $281.18 million for the quarter, compared to analyst estimates of $279.03 million. During the same quarter in the prior year, the business posted $0.39 EPS. The firm’s revenue 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. On average, equities research analysts forecast that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Matt Steinfort sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $170.07, for a total value of $1,700,700.00. Following the transaction, the chief financial officer owned 538,414 shares in the company, valued at $91,568,068.98. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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. Also, Director Warren J. Adelman sold 4,200 shares of DigitalOcean 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 transaction, the director directly owned 67,433 shares in the company, valued at approximately $8,362,366.33. The trade was a 5.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,656 shares of company stock valued at $2,811,383. Corporate insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

DOCN has been the topic of several research reports. The Goldman Sachs Group upped their price objective on shares of DigitalOcean from $78.00 to $179.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Oppenheimer set a $190.00 target price on DigitalOcean in a research report on Wednesday, May 6th. Robert W. Baird initiated coverage on DigitalOcean in a research note on Tuesday, July 21st. They set an “outperform” rating and a $165.00 price target on the stock. Stifel Nicolaus upgraded DigitalOcean from a “hold” rating to a “buy” rating and increased their price target for the stock from $135.00 to $160.00 in a report on Tuesday, July 21st. Finally, Citigroup raised their price objective on DigitalOcean from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $151.33.

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.