Matt Steinfort Sells 25,000 Shares of DigitalOcean (NYSE:DOCN) Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) CFO Matt Steinfort sold 25,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $152.50, for a total transaction of $3,812,500.00. Following the transaction, the chief financial officer owned 573,272 shares of the company’s stock, valued at approximately $87,423,980. The trade was a 4.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Matt Steinfort also recently made the following trade(s):

• On Tuesday, March 3rd, Matt Steinfort sold 20,000 shares of DigitalOcean stock. The shares were sold at an average price of $55.40, for a total transaction of $1,108,000.00.

DigitalOcean Price Performance

Shares of NYSE DOCN traded up $2.58 during midday trading on Tuesday, hitting $150.01. The company had a trading volume of 3,880,998 shares, compared to its average volume of 4,066,515. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.92. DigitalOcean Holdings, Inc. has a twelve month low of $25.56 and a twelve month high of $164.77. The business has a 50-day simple moving average of $97.81 and a two-hundred day simple moving average of $68.04. The firm has a market capitalization of $15.66 billion, a price-to-earnings ratio of 65.51 and a beta of 1.42.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings data 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 firm had revenue of $257.91 million during the quarter, compared to analysts’ expectations of $249.76 million. During the same quarter last year, the business earned $0.56 earnings per share. 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. Equities research analysts anticipate that DigitalOcean Holdings, Inc. will post 0.55 earnings per share for the current year.

Wall Street Analyst Weigh In

DOCN has been the subject of several recent research reports. Bank of America raised their target price on shares of DigitalOcean from $103.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Barclays lifted their price target on shares of DigitalOcean from $105.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Citizens Jmp lifted their price target on shares of DigitalOcean from $83.00 to $105.00 and gave the stock a “market outperform” rating in a report on Thursday, March 26th. Royal Bank Of Canada set a $60.00 price target on shares of DigitalOcean in a report on Tuesday, February 24th. Finally, Piper Sandler lifted their price target on shares of DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, DigitalOcean has a consensus rating of “Moderate Buy” and a consensus price target of $142.23.

Institutional Investors Weigh In On DigitalOcean

Hedge funds have recently modified their holdings of the stock. Bullseye Asset Management LLC lifted its position in DigitalOcean by 267.8% during the third quarter. Bullseye Asset Management LLC now owns 99,300 shares of the company’s stock valued at $3,392,000 after buying an additional 72,300 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in DigitalOcean during the fourth quarter valued at approximately $2,358,000. New York State Teachers Retirement System lifted its position in DigitalOcean by 33.0% during the fourth quarter. New York State Teachers Retirement System now owns 49,310 shares of the company’s stock valued at $2,373,000 after buying an additional 12,229 shares in the last quarter. Penserra Capital Management LLC lifted its position in DigitalOcean by 27.2% during the third quarter. Penserra Capital Management LLC now owns 293,132 shares of the company’s stock valued at $10,013,000 after buying an additional 62,725 shares in the last quarter. Finally, Van Berkom & Associates Inc. lifted its position in DigitalOcean by 33.1% during the third quarter. Van Berkom & Associates Inc. now owns 1,564,991 shares of the company’s stock valued at $53,460,000 after buying an additional 389,161 shares in the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

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.