DigitalOcean (NYSE:DOCN) Director Sells $520,842.00 in Stock
by Michael Walen · The Markets DailyDigitalOcean Holdings, Inc. (NYSE:DOCN – Get Free Report) Director Warren Adelman sold 4,200 shares of the stock in a transaction on 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 directly owned 67,433 shares of the company’s stock, valued at approximately $8,362,366.33. This trade represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
DigitalOcean Price Performance
Shares of DOCN stock traded down $9.05 on Tuesday, hitting $120.68. 2,376,996 shares of the stock traded hands, compared to its average volume of 3,851,186. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 55.10, a PEG ratio of 113.10 and a beta of 1.61. DigitalOcean Holdings, Inc. has a 52 week low of $28.79 and a 52 week high of $187.50. The firm has a 50 day simple moving average of $143.38 and a two-hundred day simple moving average of $109.54. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.31 and a quick ratio of 1.31.
DigitalOcean (NYSE:DOCN – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share 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 company had revenue of $281.18 million for the quarter, compared to analysts’ expectations of $279.03 million. During the same quarter in the previous year, the company earned $0.39 EPS. DigitalOcean’s revenue for the quarter 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, equities research analysts predict that DigitalOcean Holdings, Inc. will post 0.59 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently issued reports on DOCN shares. Canaccord Genuity Group reiterated a “buy” rating and set a $200.00 target price on shares of DigitalOcean in a research report on Friday, July 10th. Piper Sandler boosted their price target on DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Barclays upped their price target on DigitalOcean from $160.00 to $161.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. UBS Group cut their price objective on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Finally, Morgan Stanley lifted their price objective on shares of DigitalOcean from $75.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $151.33.
View Our Latest Analysis on DigitalOcean
Institutional Investors Weigh In On DigitalOcean
Hedge funds have recently bought and sold shares of the business. Allworth Financial LP bought a new position in DigitalOcean during the second quarter valued at $92,000. Silvant Capital Management LLC purchased a new stake in shares of DigitalOcean during the 2nd quarter valued at about $5,647,000. D L Carlson Investment Group Inc. bought a new position in shares of DigitalOcean in the 2nd quarter valued at about $6,653,000. Ninepoint Partners LP bought a new position in shares of DigitalOcean in the 2nd quarter valued at about $1,708,000. Finally, Clay Northam Wealth Management LLC purchased a new position in DigitalOcean in the second quarter worth about $3,378,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.
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.