The Manufacturers Life Insurance Company Takes $10.02 Million Position in DigitalOcean Holdings, Inc. $DOCN

The Manufacturers Life Insurance Company acquired a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 63,777 shares of the company’s stock, valued at approximately $10,015,000.

A number of other large investors have also recently bought and sold shares of DOCN. State of New Jersey Common Pension Fund D acquired a new position in DigitalOcean during the fourth quarter worth $2,358,000. New York State Teachers Retirement System lifted its position in shares of DigitalOcean by 33.0% in the fourth quarter. New York State Teachers Retirement System now owns 49,310 shares of the company’s stock worth $2,373,000 after buying an additional 12,229 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of DigitalOcean during the 4th quarter worth about $1,365,000. Summit Creek Advisors LLC bought a new stake in shares of DigitalOcean during the 4th quarter worth about $7,126,000. Finally, Wealth High Governance Asset Management Ltda. acquired a new position in shares of DigitalOcean during the 1st quarter valued at about $8,986,000. 49.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Warren J. Adelman sold 4,200 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $124.01, for a total value of $520,842.00. Following the completion of the transaction, the director directly owned 67,433 shares in the company, valued at approximately $8,362,366.33. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matt Steinfort sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $170.07, for a total value of $1,700,700.00. Following the completion of the transaction, the chief financial officer directly owned 538,414 shares of the company’s stock, valued at approximately $91,568,068.98. This trade represents a 1.82% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 18,656 shares of company stock worth $2,811,383. 0.96% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DOCN has been the topic of a number of recent analyst reports. Barclays raised their price objective on DigitalOcean from $160.00 to $161.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Oppenheimer set a $190.00 price target on DigitalOcean in a report on Wednesday, May 6th. UBS Group reduced their price objective on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. William Blair reissued an “outperform” rating on shares of DigitalOcean in a research report on Wednesday, July 15th. Finally, Morgan Stanley raised their target price on DigitalOcean from $75.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $152.81.

DigitalOcean Stock Performance

NYSE:DOCN opened at $111.50 on Friday. The firm’s 50-day moving average is $128.72 and its 200-day moving average is $115.41. DigitalOcean Holdings, Inc. has a 52-week low of $30.89 and a 52-week high of $187.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $11.64 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 95.20 and a beta of 1.61.

DigitalOcean (NYSE:DOCN) last released its earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.19. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The business had revenue of $281.18 million during the quarter, compared to analysts’ expectations of $279.03 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s 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. Equities research analysts anticipate that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current 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.