66,265 Shares in DigitalOcean Holdings, Inc. $DOCN Bought by Empowered Funds LLC

Empowered Funds LLC purchased a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 66,265 shares of the company’s stock, valued at approximately $10,406,000. Empowered Funds LLC owned approximately 0.06% of DigitalOcean as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in DigitalOcean by 54.4% in the third quarter. Allworth Financial LP now owns 724 shares of the company’s stock worth $25,000 after buying an additional 255 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of DigitalOcean by 66.2% during the 1st quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock worth $28,000 after acquiring an additional 129 shares during the period. Huntington National Bank raised its position in shares of DigitalOcean by 638.3% in the 4th quarter. Huntington National Bank now owns 598 shares of the company’s stock worth $29,000 after acquiring an additional 517 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of DigitalOcean in the 1st quarter worth approximately $33,000. Finally, Optiver Holding B.V. lifted its stake in shares of DigitalOcean by 1,063.9% in the 1st quarter. Optiver Holding B.V. now owns 419 shares of the company’s stock valued at $36,000 after purchasing an additional 383 shares during the period. 49.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Matt Steinfort sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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 in the company, valued at $91,568,068.98. The trade was a 1.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, Director Warren J. Adelman sold 4,200 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 67,433 shares in the company, valued at $8,362,366.33. This trade represents a 5.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,656 shares of company stock worth $2,811,383 in the last three months. Insiders own 0.96% of the company’s stock.

DigitalOcean Trading Down 8.4%

NYSE DOCN opened at $111.50 on Friday. DigitalOcean Holdings, Inc. has a 12 month low of $30.89 and a 12 month high of $187.50. The stock has a market cap of $11.64 billion, a P/E ratio of 50.91, a P/E/G ratio of 95.20 and a beta of 1.61. The stock’s fifty day moving average price is $128.72 and its 200-day moving average price is $115.41. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14.

DigitalOcean (NYSE:DOCN) last posted 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 firm had revenue of $281.18 million during the quarter, compared to analyst estimates of $279.03 million. DigitalOcean had a return on equity of 31.01% and a net margin of 23.26%.DigitalOcean’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. 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 analysts forecast that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings upgraded DigitalOcean from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group raised their price objective on DigitalOcean from $78.00 to $179.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Barclays upped their target price on shares of DigitalOcean from $160.00 to $161.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Citigroup increased their price target on shares of DigitalOcean from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, William Blair reissued an “outperform” rating on shares of DigitalOcean in a research report on Wednesday, July 15th. 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 has an average rating of “Buy” and an average target price 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.