Empowered Funds LLC Takes $10.41 Million Position in DigitalOcean Holdings, Inc. $DOCN

Empowered Funds LLC purchased a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 66,265 shares of the company’s stock, valued at approximately $10,406,000.

Several other large investors also recently modified their holdings of DOCN. EverSource Wealth Advisors LLC increased its position in DigitalOcean by 14.8% during the first quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company’s stock valued at $47,000 after acquiring an additional 71 shares during the last quarter. Parallel Advisors LLC boosted its position in DigitalOcean by 66.2% in the first 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. Maryland State Retirement & Pension System boosted its position in DigitalOcean by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company’s stock worth $481,000 after purchasing an additional 185 shares during the last quarter. Hilltop National Bank bought a new stake in shares of DigitalOcean during the 2nd quarter valued at about $38,000. Finally, Allworth Financial LP grew its stake in shares of DigitalOcean by 54.4% during the 3rd quarter. Allworth Financial LP now owns 724 shares of the company’s stock valued at $25,000 after purchasing an additional 255 shares during the period. Institutional investors own 49.77% of the company’s stock.

Insiders Place Their Bets

In related news, Director Warren J. Adelman sold 4,200 shares of DigitalOcean stock in a transaction on Friday, August 7th. The shares were sold at an average price of $124.01, for a total transaction of $520,842.00. Following the transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matt Steinfort sold 10,000 shares of the company’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 completion of the transaction, the chief financial officer directly owned 538,414 shares of the company’s stock, valued at $91,568,068.98. This represents a 1.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 18,656 shares of company stock worth $2,811,383 over the last three months. 0.96% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DOCN shares. Morgan Stanley increased their price objective on shares of DigitalOcean from $75.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial started coverage on shares of DigitalOcean in a research report on Thursday. They set a “buy” rating and a $175.00 target price for the company. Oppenheimer set a $190.00 target price on shares of DigitalOcean in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of DigitalOcean from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, Stifel Nicolaus upgraded shares of DigitalOcean from a “hold” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $160.00 in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, DigitalOcean presently has an average rating of “Buy” and a consensus price target of $152.81.

DigitalOcean Stock Down 8.4%

DOCN stock opened at $111.50 on Friday. The business’s 50-day moving average price is $128.72 and its 200-day moving average price is $115.41. The stock has a market cap of $11.64 billion, a P/E ratio of 50.91, a PEG ratio of 95.20 and a beta of 1.61. 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 Holdings, Inc. has a twelve month low of $30.89 and a twelve month high of $187.50.

DigitalOcean (NYSE:DOCN) last released its earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $279.03 million. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly 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 year.

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.