34,262 Shares in DigitalOcean Holdings, Inc. $DOCN Bought by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP acquired a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 34,262 shares of the company’s stock, valued at approximately $5,380,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in DigitalOcean by 155.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,108,420 shares of the company’s stock valued at $95,080,000 after purchasing an additional 674,231 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of DigitalOcean during the 3rd quarter worth $21,808,000. Bank of New York Mellon Corp purchased a new position in shares of DigitalOcean in the 2nd quarter worth about $98,011,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of DigitalOcean by 90.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,194,845 shares of the company’s stock worth $57,496,000 after buying an additional 568,823 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of DigitalOcean by 784.2% in the 4th quarter. Franklin Resources Inc. now owns 494,314 shares of the company’s stock worth $23,786,000 after buying an additional 438,411 shares during the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DOCN shares. William Blair restated an “outperform” rating on shares of DigitalOcean in a report on Wednesday, July 15th. Citigroup boosted their target price on shares of DigitalOcean from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Morgan Stanley increased their target price on shares of DigitalOcean from $75.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Piper Sandler raised their price target on shares of DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Finally, UBS Group lowered their price target on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, DigitalOcean presently has a consensus rating of “Buy” and a consensus target price of $151.33.

Insider Activity

In related news, CAO Cherie Barrett sold 4,456 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $132.37, for a total value of $589,840.72. Following the completion of the transaction, the chief accounting officer directly owned 65,487 shares of the company’s stock, valued at approximately $8,668,514.19. This trade represents a 6.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 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 approximately $91,568,068.98. This trade represents a 1.82% decrease in their ownership of the stock. 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 have sold a total of 18,656 shares of company stock valued at $2,811,383 over the last quarter. Company insiders own 0.96% of the company’s stock.

DigitalOcean Trading Up 0.7%

Shares of DOCN opened at $115.12 on Friday. The business has a 50-day moving average of $134.86 and a 200 day moving average of $113.48. DigitalOcean Holdings, Inc. has a fifty-two week low of $30.05 and a fifty-two week high of $187.50. The firm has a market cap of $12.01 billion, a P/E ratio of 52.57, a price-to-earnings-growth ratio of 98.99 and a beta of 1.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.31 and a current ratio of 1.31.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.26 by $0.19. The business had revenue of $281.18 million for the quarter, compared to the consensus estimate of $279.03 million. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The company’s revenue was up 28.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. DigitalOcean has set its FY 2026 guidance at 1.350-1.400 EPS and its Q3 2026 guidance at 0.280-0.300 EPS. As a group, research analysts forecast that DigitalOcean Holdings, Inc. will post 0.63 EPS 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.