Viking Fund Management LLC Sells 14,000 Shares of DigitalOcean Holdings, Inc. $DOCN

Viking Fund Management LLC cut its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 20.6% in the third quarter, Holdings Channel reports. The institutional investor owned 54,000 shares of the company’s stock after selling 14,000 shares during the period. Viking Fund Management LLC’s holdings in DigitalOcean were worth $7,203,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Hilltop National Bank purchased a new position in DigitalOcean during the second quarter worth $38,000. Rakuten Securities Inc. bought a new position in DigitalOcean during the second quarter valued at $43,000. Parallel Advisors LLC raised its stake in shares of DigitalOcean by 66.2% in the first quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock valued at $28,000 after acquiring an additional 129 shares during the period. Banque Cantonale Vaudoise purchased a new stake in DigitalOcean in the 1st quarter worth about $33,000. Finally, LRI Investments LLC bought a new stake in DigitalOcean in the second quarter worth about $64,000. 49.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

DigitalOcean Price Performance

Shares of DOCN opened at $109.09 on Thursday. The company has a 50 day moving average of $125.82 and a two-hundred day moving average of $129.80. 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 Holdings, Inc. has a twelve month low of $37.83 and a twelve month high of $187.50. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 49.81, a price-to-earnings-growth ratio of 109.02 and a beta of 1.70.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.19. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%. 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 prior year, the firm posted $0.39 earnings per share. The business’s quarterly 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. As a group, analysts predict that DigitalOcean Holdings, Inc. will post 0.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

DOCN has been the subject of several recent analyst reports. Weiss Ratings lowered DigitalOcean from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 9th. Stifel Nicolaus raised shares of DigitalOcean from a “hold” rating to a “buy” rating and raised their price target for the stock from $135.00 to $160.00 in a research note on Tuesday, July 21st. Citigroup reaffirmed a “market outperform” rating on shares of DigitalOcean in a research note on Thursday. KeyCorp reiterated an “overweight” rating on shares of DigitalOcean in a report on Tuesday. Finally, Barclays increased their price objective on DigitalOcean from $160.00 to $161.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $154.69.

DigitalOcean Profile

DigitalOcean Holdings, Inc (NYSE:DOCN) provides cloud computing services designed primarily for developers, startups, and small and midsize businesses. Its platform offers on-demand infrastructure and software tools intended to simplify the development, deployment, and management of applications.

The company’s services include cloud compute through Droplets, managed Kubernetes, managed databases, object and block storage, networking, and the App Platform for deploying applications. DigitalOcean also provides developer tools, tutorials, support, and other resources intended to help customers build and scale digital products without managing traditional data-center infrastructure.

Founded in 2011 and headquartered in New York City, DigitalOcean serves customers internationally through cloud infrastructure and data-center regions located in North America, Europe, and Asia.