Wesbanco Bank Inc. Decreases Stock Position in DigitalOcean Holdings, Inc. $DOCN

Wesbanco Bank Inc. lessened its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 19.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,200 shares of the company’s stock after selling 11,000 shares during the quarter. Wesbanco Bank Inc. owned 0.05% of DigitalOcean worth $3,963,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Banque Cantonale Vaudoise purchased a new position in shares of DigitalOcean in the 1st quarter valued at approximately $33,000. Huntington National Bank grew its position in DigitalOcean by 638.3% during the 4th quarter. Huntington National Bank now owns 598 shares of the company’s stock worth $29,000 after purchasing an additional 517 shares during the last quarter. NBC Securities Inc. purchased a new stake in DigitalOcean during the 4th quarter worth approximately $32,000. Allworth Financial LP increased its stake in 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 in the last quarter. Finally, Transamerica Financial Advisors LLC increased its stake in DigitalOcean by 417.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 782 shares of the company’s stock valued at $38,000 after purchasing an additional 631 shares in the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Insider Activity

In other news, CFO Matt Steinfort sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 538,414 shares of the company’s stock, valued at $91,568,068.98. The trade was a 1.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 Hilary Schneider sold 4,338 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $156.38, for a total value of $678,376.44. Following the completion of the sale, the director owned 24,323 shares in the company, valued at $3,803,630.74. The trade was a 15.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,338 shares of company stock worth $6,191,576 over the last ninety days. 0.96% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DOCN shares. Citigroup lifted their price objective on shares of DigitalOcean from $115.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley upped their target price on DigitalOcean from $75.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Canaccord Genuity Group restated a “buy” rating and issued a $200.00 target price on shares of DigitalOcean in a research note on Thursday, June 11th. KeyCorp assumed coverage on DigitalOcean in a research report on Tuesday, June 2nd. They set an “overweight” rating and a $200.00 price target for the company. Finally, Bank of America boosted their price target on DigitalOcean from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $146.36.

DigitalOcean Stock Performance

Shares of NYSE DOCN opened at $139.57 on Friday. The company has a 50 day simple moving average of $147.26 and a two-hundred day simple moving average of $92.09. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 60.95 and a beta of 1.60. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.92. DigitalOcean Holdings, Inc. has a 12 month low of $25.56 and a 12 month high of $187.50.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 $257.90 million for the quarter, compared to analyst estimates of $249.76 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The business’s quarterly revenue 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. As a group, analysts predict that DigitalOcean Holdings, Inc. will post 0.54 earnings per share for the current year.

DigitalOcean 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.