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 business’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 directly owned 573,272 shares in the company, valued at approximately $87,423,980. The trade was a 4.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

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

DigitalOcean Stock Up 1.8%

Shares of NYSE DOCN traded up $2.58 during trading on Tuesday, reaching $150.01. 3,880,998 shares of the stock were exchanged, compared to its average volume of 4,066,515. The business’s 50-day moving average price is $97.81 and its 200 day moving average price is $68.04. DigitalOcean Holdings, Inc. has a twelve month low of $25.56 and a twelve month high of $164.77. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.92. The company 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 posted its earnings results on Tuesday, May 5th. The company reported $0.44 EPS 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 business had revenue of $257.91 million for the quarter, compared to analysts’ expectations of $249.76 million. During the same period in the previous year, the company posted $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. As a group, equities analysts forecast that DigitalOcean Holdings, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Trading of DigitalOcean

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in shares of DigitalOcean by 14.8% in the first quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company’s stock worth $47,000 after buying an additional 71 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of DigitalOcean by 66.2% in the first quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock worth $28,000 after buying an additional 129 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in DigitalOcean by 1.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company’s stock valued at $481,000 after purchasing an additional 185 shares during the last quarter. Allworth Financial LP increased its stake in DigitalOcean by 54.4% during the third 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 last quarter. Finally, CWM LLC increased its stake in DigitalOcean by 1.3% during the fourth quarter. CWM LLC now owns 20,971 shares of the company’s stock valued at $1,009,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 49.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on DOCN. Oppenheimer set a $190.00 target price on shares of DigitalOcean in a research report on Wednesday, May 6th. Canaccord Genuity Group boosted their target price on shares of DigitalOcean from $120.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald lifted their price target on shares of DigitalOcean from $68.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Morgan Stanley lifted their price target 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. Finally, Royal Bank Of Canada set a $60.00 price target on shares of DigitalOcean in a research note on Tuesday, February 24th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.23.

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.