Sanctuary Advisors LLC Takes Position in DigitalOcean Holdings, Inc. $DOCN

Sanctuary Advisors LLC bought a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,143 shares of the company’s stock, valued at approximately $1,279,000.

Several other institutional investors and hedge funds have also bought and sold shares of DOCN. Principal Financial Group Inc. increased its stake in DigitalOcean by 155.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,108,420 shares of the company’s stock worth $95,080,000 after purchasing an additional 674,231 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of DigitalOcean in the third quarter worth approximately $21,808,000. Bank of New York Mellon Corp bought a new position in shares of DigitalOcean in the second quarter worth approximately $98,011,000. Arrowstreet Capital Limited Partnership increased its stake in shares of DigitalOcean by 90.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,194,845 shares of the company’s stock worth $57,496,000 after buying an additional 568,823 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of DigitalOcean by 784.2% in the fourth quarter. Franklin Resources Inc. now owns 494,314 shares of the company’s stock worth $23,786,000 after buying an additional 438,411 shares during the period. 49.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Matt Steinfort sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the transaction, the chief financial officer owned 538,414 shares in the company, valued at $91,568,068.98. The trade was a 1.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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. Also, Director Warren J. Adelman sold 4,200 shares of the 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 transaction, the director directly owned 67,433 shares of the company’s stock, valued at approximately $8,362,366.33. The trade was a 5.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 18,656 shares of company stock valued at $2,811,383. Corporate insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. KeyCorp assumed coverage on shares of DigitalOcean in a research report on Tuesday, June 2nd. They set an “overweight” rating and a $200.00 price target for the company. Oppenheimer set a $190.00 price objective on shares of DigitalOcean in a research report on Wednesday, May 6th. Morgan Stanley upped their price objective on shares of DigitalOcean from $75.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Citigroup increased their target price on shares of DigitalOcean from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Stifel Nicolaus raised DigitalOcean from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $160.00 in a research note on Tuesday, July 21st. Two 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $152.81.

DigitalOcean Stock Performance

Shares of DOCN stock opened at $121.76 on Friday. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 98.44 and a beta of 1.61. The stock has a fifty day moving average of $129.95 and a 200 day moving average of $115.44. DigitalOcean Holdings, Inc. has a 52 week low of $30.89 and a 52 week high of $187.50. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.14.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.19. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The business had revenue of $281.18 million for the quarter, compared to the consensus estimate of $279.03 million. During the same period in the previous year, the firm earned $0.39 EPS. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. 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, research analysts expect 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.