Fulton Bank N.A. Makes New $597,000 Investment in DigitalOcean Holdings, Inc. $DOCN

Fulton Bank N.A. acquired a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 2nd quarter, HoldingsChannel reports. The firm acquired 3,805 shares of the company’s stock, valued at approximately $597,000.

A number of other institutional investors also recently modified their holdings of DOCN. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of DigitalOcean by 5.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,670 shares of the company’s stock worth $11,342,000 after acquiring an additional 16,162 shares in the last quarter. Intech Investment Management LLC increased its holdings in DigitalOcean by 59.2% during the 1st quarter. Intech Investment Management LLC now owns 39,429 shares of the company’s stock valued at $1,317,000 after purchasing an additional 14,655 shares in the last quarter. Amundi increased its holdings in DigitalOcean by 126,552.2% during the 2nd quarter. Amundi now owns 29,130 shares of the company’s stock valued at $827,000 after purchasing an additional 29,107 shares in the last quarter. Jump Financial LLC bought a new position in DigitalOcean in the 2nd quarter valued at $3,212,000. Finally, Qube Research & Technologies Ltd raised its position in DigitalOcean by 69.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 414,643 shares of the company’s stock valued at $11,842,000 after purchasing an additional 170,339 shares during the last quarter. Institutional investors own 49.77% of the company’s stock.

DigitalOcean Stock Up 10.2%

NYSE:DOCN opened at $133.18 on Thursday. The stock’s fifty day moving average price is $141.53 and its two-hundred day moving average price is $110.58. DigitalOcean Holdings, Inc. has a 52-week low of $29.62 and a 52-week high of $187.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $13.90 billion, a price-to-earnings ratio of 60.81, a P/E/G ratio of 103.46 and a beta of 1.61.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.19. The firm had revenue of $281.18 million for the quarter, compared to analyst estimates of $279.03 million. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%.The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. 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, analysts anticipate that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on DOCN. Robert W. Baird began coverage on DigitalOcean in a research note on Tuesday, July 21st. They issued an “outperform” rating and a $165.00 price objective on the stock. Weiss Ratings lowered DigitalOcean from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Stifel Nicolaus raised DigitalOcean from a “hold” rating to a “buy” rating and lifted their price target for the company from $135.00 to $160.00 in a report on Tuesday, July 21st. William Blair reiterated an “outperform” rating on shares of DigitalOcean in a research report on Wednesday, July 15th. Finally, Citigroup raised their price objective on shares of DigitalOcean from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.33.

Insider Activity

In other DigitalOcean news, CFO Matt Steinfort sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer directly 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Hilary Schneider sold 4,338 shares of the business’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 sale, the director directly owned 24,323 shares of the company’s stock, valued at $3,803,630.74. This represents a 15.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 43,538 shares of company stock valued at $6,712,418 over the last 90 days. 0.96% of the stock is owned by company insiders.

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.