Ieq Capital LLC Acquires New Holdings in DigitalOcean Holdings, Inc. $DOCN

Ieq Capital LLC bought a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,740 shares of the company’s stock, valued at approximately $525,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in DigitalOcean by 155.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,108,420 shares of the company’s stock valued at $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 $21,808,000. Bank of New York Mellon Corp purchased a new stake in shares of DigitalOcean in the second quarter worth $98,011,000. Arrowstreet Capital Limited Partnership raised its position 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 in the last quarter. Finally, Franklin Resources Inc. boosted its stake in DigitalOcean by 784.2% during the fourth quarter. Franklin Resources Inc. now owns 494,314 shares of the company’s stock valued at $23,786,000 after buying an additional 438,411 shares during the period. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

DigitalOcean Stock Down 8.4%

Shares of NYSE DOCN opened at $111.50 on Friday. DigitalOcean Holdings, Inc. has a one year low of $30.89 and a one year high of $187.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.31 and a quick ratio of 1.31. The firm’s 50 day simple moving average is $128.72 and its two-hundred day simple moving average is $115.41. The stock has a market capitalization of $11.64 billion, a P/E ratio of 50.91, a PEG ratio of 104.17 and a beta of 1.61.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, topping 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 firm had revenue of $281.18 million during the quarter, compared to analyst estimates of $279.03 million. During the same period in the previous year, the business posted $0.39 EPS. 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 expect that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In other DigitalOcean news, Director Warren J. Adelman sold 4,200 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $124.01, for a total value of $520,842.00. Following the completion of the sale, the director directly owned 67,433 shares of the company’s stock, valued at $8,362,366.33. The trade was a 5.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matt Steinfort sold 10,000 shares of the company’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 sale, the chief financial officer owned 538,414 shares of the company’s stock, valued at approximately $91,568,068.98. The trade was a 1.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 18,656 shares of company stock worth $2,811,383 in the last 90 days. 0.96% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on DOCN shares. Citigroup raised their price target on DigitalOcean from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Truist Financial started coverage on shares of DigitalOcean in a research report on Thursday. They issued a “buy” rating and a $175.00 price objective on the stock. Morgan Stanley raised their target price 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. The Goldman Sachs Group lifted their target price on shares of DigitalOcean from $78.00 to $179.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, KeyCorp started coverage on shares of DigitalOcean in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $152.81.

About DigitalOcean

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.