DigitalOcean (NYSE:DOCN) Director Warren Adelman Sells 4,200 Shares of Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) 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 $8,362,366.33. The trade was a 5.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

DigitalOcean Stock Performance

NYSE:DOCN opened at $120.68 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 55.10, a PEG ratio of 121.20 and a beta of 1.61. The firm’s fifty day simple moving average is $142.34 and its 200 day simple moving average is $110.03. DigitalOcean Holdings, Inc. has a twelve month low of $28.79 and a twelve month high of $187.50.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings results 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 analysts’ expectations of $279.03 million. During the same period in the prior year, the company earned $0.39 EPS. 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. As a group, equities research analysts expect that DigitalOcean Holdings, Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of DigitalOcean

Hedge funds and other institutional investors have recently modified their holdings of the business. Ieq Capital LLC acquired a new position in shares of DigitalOcean in the second quarter worth about $525,000. Allworth Financial LP purchased a new position in DigitalOcean in the second quarter valued at about $92,000. Silvant Capital Management LLC acquired a new stake in DigitalOcean during the 2nd quarter valued at approximately $5,647,000. D L Carlson Investment Group Inc. acquired a new stake in DigitalOcean during the 2nd quarter valued at approximately $6,653,000. Finally, Ninepoint Partners LP purchased a new stake in DigitalOcean during the 2nd quarter worth approximately $1,708,000. 49.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DOCN shares. Barclays increased their target price 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. KeyCorp started coverage on shares of DigitalOcean in a research report on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 price objective for the company. The Goldman Sachs Group increased their price objective 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, Piper Sandler lifted their price objective on shares of DigitalOcean from $98.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $151.33.

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.