Wesbanco Bank Inc. Cuts Stock Holdings in DigitalOcean Holdings, Inc. $DOCN

Wesbanco Bank Inc. reduced its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 19.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,200 shares of the company’s stock after selling 11,000 shares during the period. Wesbanco Bank Inc.’s holdings in DigitalOcean were worth $3,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Bullseye Asset Management LLC increased its holdings in DigitalOcean by 267.8% in the third quarter. Bullseye Asset Management LLC now owns 99,300 shares of the company’s stock valued at $3,392,000 after buying an additional 72,300 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of DigitalOcean during the 4th quarter worth about $2,358,000. New York State Teachers Retirement System boosted its stake in shares of DigitalOcean by 33.0% during 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 in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of DigitalOcean during the 3rd quarter valued at about $8,951,000. Finally, SG Americas Securities LLC grew its position in shares of DigitalOcean by 266.1% during the 4th quarter. SG Americas Securities LLC now owns 167,126 shares of the company’s stock valued at $8,042,000 after acquiring an additional 121,473 shares during the period. 49.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DigitalOcean

In related news, Director Hilary Schneider sold 4,338 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $156.38, for a total transaction of $678,376.44. Following the completion of the sale, the director directly owned 24,323 shares in the company, valued at approximately $3,803,630.74. The trade was a 15.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matt Steinfort sold 25,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $152.50, for a total value of $3,812,500.00. Following the completion of the transaction, the chief financial officer directly owned 573,272 shares of the company’s stock, valued at approximately $87,423,980. This represents a 4.18% 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 sold 39,338 shares of company stock worth $6,191,576. Company insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on DOCN. Oppenheimer set a $190.00 price target on DigitalOcean in a report on Wednesday, May 6th. Citizens Jmp raised their price objective on DigitalOcean from $83.00 to $105.00 and gave the company a “market outperform” rating in a report on Thursday, March 26th. The Goldman Sachs Group boosted their price objective on DigitalOcean from $78.00 to $179.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Piper Sandler increased their target price on DigitalOcean from $98.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Finally, Bank of America increased their target price on DigitalOcean from $103.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.36.

DigitalOcean Stock Down 4.0%

DOCN opened at $139.57 on Friday. DigitalOcean Holdings, Inc. has a twelve month low of $25.56 and a twelve month high of $187.50. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $147.26 and a 200 day moving average price of $92.09. The company has a market cap of $14.57 billion, a PE ratio of 60.95 and a beta of 1.60.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.17. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The firm had revenue of $257.90 million for the quarter, compared to analyst estimates of $249.76 million. During the same period last year, the company posted $0.56 EPS. DigitalOcean’s quarterly revenue was up 22.4% compared to the same quarter last year. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. Sell-side analysts expect that DigitalOcean Holdings, Inc. will post 0.54 earnings per share for the current fiscal year.

DigitalOcean Company 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.