Lisanti Capital Growth LLC Purchases Shares of 50,425 DigitalOcean Holdings, Inc. $DOCN

Lisanti Capital Growth LLC purchased a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 50,425 shares of the company’s stock, valued at approximately $7,918,000. DigitalOcean accounts for approximately 1.7% of Lisanti Capital Growth LLC’s holdings, making the stock its 6th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State of New Jersey Common Pension Fund D purchased a new position in DigitalOcean during the 4th quarter valued at approximately $2,358,000. New York State Teachers Retirement System increased its stake in DigitalOcean by 33.0% in the 4th quarter. New York State Teachers Retirement System now owns 49,310 shares of the company’s stock worth $2,373,000 after acquiring an additional 12,229 shares during the last quarter. Legato Capital Management LLC purchased a new stake in shares of DigitalOcean during the 4th quarter worth approximately $1,365,000. Summit Creek Advisors LLC purchased a new stake in shares of DigitalOcean during the 4th quarter worth approximately $7,126,000. Finally, Wealth High Governance Asset Management Ltda. bought a new position in shares of DigitalOcean during the 1st quarter valued at approximately $8,986,000. Institutional investors own 49.77% of the company’s stock.

Insider Activity

In other news, CAO Cherie Barrett sold 4,456 shares of the stock in a transaction 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 sale, the chief accounting officer owned 65,487 shares of the company’s stock, valued at approximately $8,668,514.19. This represents a 6.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Warren J. Adelman sold 4,200 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $124.01, for a total transaction of $520,842.00. Following the completion of the sale, the director owned 67,433 shares of the company’s stock, valued at $8,362,366.33. This trade represents a 5.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 18,656 shares of company stock valued at $2,811,383. 0.96% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Oppenheimer set a $190.00 price target on shares of DigitalOcean in a research report on Wednesday, May 6th. The Goldman Sachs Group increased their price objective on shares of DigitalOcean from $78.00 to $179.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Piper Sandler lifted their price objective 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. Canaccord Genuity Group restated a “buy” rating and issued a $200.00 target price on shares of DigitalOcean in a report on Friday, July 10th. Finally, Robert W. Baird started coverage on shares of DigitalOcean in a research report on Tuesday, July 21st. They set an “outperform” rating and a $165.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $151.33.

DigitalOcean Stock Performance

NYSE DOCN opened at $116.60 on Thursday. The company has a market cap of $12.17 billion, a P/E ratio of 53.24, a P/E/G ratio of 107.22 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. The business’s 50 day moving average price is $137.14 and its 200-day moving average price is $113.05. DigitalOcean Holdings, Inc. has a fifty-two week low of $29.62 and a fifty-two week high of $187.50.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.19. The company 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%.DigitalOcean’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. Sell-side analysts predict that DigitalOcean Holdings, Inc. will post 0.63 earnings per share 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.