CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires 5,200 Shares of DigitalOcean Holdings, Inc. $DOCN

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 145,600 shares of the company’s stock after acquiring an additional 5,200 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in DigitalOcean were worth $19,422,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Root Financial Partners LLC purchased a new stake in shares of DigitalOcean during the third quarter worth about $31,000. Hilltop National Bank purchased a new position in DigitalOcean in the 2nd quarter valued at about $38,000. Rakuten Securities Inc. purchased a new position in DigitalOcean in the 2nd quarter valued at about $43,000. TD Waterhouse Canada Inc. boosted its holdings in DigitalOcean by 32,000.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 321 shares of the company’s stock worth $45,000 after buying an additional 320 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in DigitalOcean by 66.2% in the 1st 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. Institutional investors and hedge funds own 49.77% of the company’s stock.

DigitalOcean Stock Performance

DOCN opened at $99.55 on Tuesday. The firm has a market capitalization of $10.39 billion, a PE ratio of 45.46, a PEG ratio of 81.27 and a beta of 1.70. DigitalOcean Holdings, Inc. has a twelve month low of $37.83 and a twelve month high of $187.50. The firm’s 50-day moving average price is $121.58 and its 200 day moving average price is $110.03. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings data 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. The company had revenue of $281.18 million during the quarter, compared to analysts’ expectations of $279.03 million. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. DigitalOcean’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior 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. As a group, sell-side analysts expect that DigitalOcean Holdings, Inc. will post 0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DOCN has been the subject of several research reports. Truist Financial started coverage on DigitalOcean in a research note on Thursday, August 27th. They set a “buy” rating and a $175.00 price objective for the company. Weiss Ratings downgraded DigitalOcean from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 9th. UBS Group lowered their price target on DigitalOcean from $125.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday. William Blair reiterated an “outperform” rating on shares of DigitalOcean in a research report on Wednesday, July 15th. Finally, Stifel Nicolaus raised DigitalOcean from a “hold” rating to a “buy” rating and increased their price objective for the company from $135.00 to $160.00 in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $150.69.

Insider Transactions at DigitalOcean

In related news, CFO Matt Steinfort sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $105.73, for a total value of $1,057,300.00. Following the completion of the sale, the chief financial officer owned 503,692 shares of the company’s stock, valued at approximately $53,255,355.16. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 Warren J. Adelman sold 4,200 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $124.01, for a total value of $520,842.00. Following the completion of the sale, the director directly owned 67,433 shares of the company’s stock, valued at approximately $8,362,366.33. This represents a 5.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,641 shares of company stock worth $2,589,317 in the last ninety days. Insiders own 0.96% of the company’s stock.

About DigitalOcean

DigitalOcean Holdings, Inc is a cloud computing company that provides infrastructure and developer-focused services for startups, small and medium-sized businesses, and individual developers. Its platform is designed to simplify the deployment, management, and scaling of applications without requiring customers to build and operate extensive in-house infrastructure.

The company’s offerings include Droplets, its virtual machine service; managed Kubernetes; managed databases; object and block storage; networking tools; and application deployment services through App Platform.