DigitalOcean (NYSE:DOCN) CAO Cherie Barrett Sells 3,985 Shares of Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) CAO Cherie Barrett sold 3,985 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $105.73, for a total transaction of $421,334.05. Following the sale, the chief accounting officer directly owned 58,399 shares in the company, valued at approximately $6,174,526.27. This represents a 6.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.

Cherie Barrett also recently made the following trade(s):

• On Thursday, August 13th, Cherie Barrett sold 4,456 shares of DigitalOcean stock. The stock was sold at an average price of $132.37, for a total transaction of $589,840.72.

DigitalOcean Trading Up 4.4%

NYSE:DOCN opened at $109.50 on Friday. DigitalOcean Holdings, Inc. has a 12 month low of $30.89 and a 12 month high of $187.50. The firm has a fifty day simple moving average of $125.06 and a 200-day simple moving average of $117.00. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $11.43 billion, a P/E ratio of 50.00, a PEG ratio of 89.78 and a beta of 1.57.

DigitalOcean (NYSE:DOCN) last released its earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.19. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%.The firm had revenue of $281.18 million for the quarter, compared to the consensus estimate of $279.03 million. During the same period in the prior year, the firm earned $0.39 EPS. The firm’s revenue was up 28.6% on a year-over-year basis. 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, equities research analysts anticipate that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current year.

Analyst Ratings Changes

DOCN has been the topic of several research reports. UBS Group cut 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. Citigroup upped their price objective on shares of DigitalOcean from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. William Blair reiterated an “outperform” rating on shares of DigitalOcean in a research note on Wednesday, July 15th. Truist Financial began coverage on shares of DigitalOcean in a report on Thursday, August 27th. They set a “buy” rating and a $175.00 target price for the company. Finally, Canaccord Genuity Group restated a “buy” rating and set a $200.00 target price on shares of DigitalOcean in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, DigitalOcean has an average rating of “Buy” and a consensus target price of $152.81.

Institutional Investors Weigh In On DigitalOcean

Hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in DigitalOcean by 16,016.1% during the second quarter. California State Teachers Retirement System now owns 14,211,058 shares of the company’s stock worth $2,231,562,000 after buying an additional 14,122,879 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in DigitalOcean by 11.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,420,341 shares of the company’s stock valued at $116,467,000 after buying an additional 252,303 shares during the period. Lazard Asset Management LLC increased its holdings in DigitalOcean by 34.5% in the second quarter. Lazard Asset Management LLC now owns 1,660,731 shares of the company’s stock valued at $47,430,000 after buying an additional 426,264 shares in the last quarter. Bank of America Corp DE purchased a new position in DigitalOcean in the second quarter valued at $241,945,000. Finally, First Trust Advisors LP raised its position in shares of DigitalOcean by 9.3% in the first quarter. First Trust Advisors LP now owns 1,441,151 shares of the company’s stock worth $123,622,000 after acquiring an additional 122,675 shares during the period. Hedge funds and other institutional investors own 49.77% of the company’s stock.

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.