Pinnbrook Capital Management LP Invests $5.38 Million in DigitalOcean Holdings, Inc. $DOCN

Pinnbrook Capital Management LP bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 34,262 shares of the company’s stock, valued at approximately $5,380,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOCN. Hilltop National Bank acquired a new position in DigitalOcean during the 2nd quarter worth approximately $38,000. Rakuten Securities Inc. acquired a new stake in DigitalOcean in the second quarter valued at approximately $43,000. Parallel Advisors LLC grew its stake in 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 bought a new stake in shares of DigitalOcean during the first quarter valued at approximately $33,000. Finally, LRI Investments LLC bought a new stake in shares of DigitalOcean during the second quarter valued at approximately $64,000. 49.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Warren J. Adelman sold 4,200 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $124.01, for a total transaction of $520,842.00. Following the transaction, the director directly owned 67,433 shares of the company’s stock, valued at $8,362,366.33. This trade represents a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Cherie Barrett sold 4,456 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $132.37, for a total transaction of $589,840.72. Following the transaction, the chief accounting officer owned 65,487 shares in the company, valued at approximately $8,668,514.19. This trade represents a 6.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,656 shares of company stock valued at $2,811,383 in the last three months. 0.96% of the stock is currently owned by insiders.

DigitalOcean Stock Up 0.7%

DOCN stock opened at $115.12 on Friday. The firm has a market capitalization of $12.01 billion, a PE ratio of 52.57, a P/E/G ratio of 98.99 and a beta of 1.61. 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 $30.05 and a twelve month high of $187.50. The stock’s 50 day moving average is $134.86 and its 200-day moving average is $113.48.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.19. The business had revenue of $281.18 million during the quarter, compared to the consensus estimate of $279.03 million. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%.DigitalOcean’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. 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 expect that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DOCN shares. Stifel Nicolaus upgraded DigitalOcean from a “hold” rating to a “buy” rating and increased their target price for the stock from $135.00 to $160.00 in a report on Tuesday, July 21st. Barclays boosted their price target on shares of DigitalOcean from $160.00 to $161.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group upped their price objective on shares of DigitalOcean from $78.00 to $179.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. KeyCorp began coverage on shares of DigitalOcean in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 price objective on the stock. Finally, Oppenheimer set a $190.00 price objective on shares of DigitalOcean in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, DigitalOcean presently has an average rating of “Buy” and a consensus target price of $151.33.

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.