CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Raises Stock Position in DigitalOcean Holdings, Inc. $DOCN

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 14.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 132,200 shares of the company’s stock after buying an additional 16,200 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in DigitalOcean were worth $11,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Abel Hall LLC grew its holdings in DigitalOcean by 10.7% in the first quarter. Abel Hall LLC now owns 4,733 shares of the company’s stock valued at $406,000 after purchasing an additional 457 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of DigitalOcean by 76.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 912 shares of the company’s stock worth $79,000 after buying an additional 395 shares during the last quarter. Praxis Investment Management Inc. acquired a new position in shares of DigitalOcean during the 1st quarter worth $211,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of DigitalOcean in the 1st quarter worth about $357,000. Finally, Strs Ohio grew its stake in DigitalOcean by 1,575.0% in the 1st quarter. Strs Ohio now owns 6,700 shares of the company’s stock valued at $575,000 after acquiring an additional 6,300 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company’s stock.

DigitalOcean Price Performance

DigitalOcean stock opened at $129.91 on Monday. The stock has a market capitalization of $13.56 billion, a P/E ratio of 56.73 and a beta of 1.57. DigitalOcean Holdings, Inc. has a 12-month low of $25.56 and a 12-month high of $187.50. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.46 and a quick ratio of 1.46. The firm’s 50-day moving average is $152.40 and its two-hundred day moving average is $95.68.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.17. The business had revenue of $257.90 million during the quarter, compared to analyst estimates of $249.76 million. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. The company’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. Equities analysts predict that DigitalOcean Holdings, Inc. will post 0.54 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of DigitalOcean from $105.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of DigitalOcean in a research report on Wednesday, June 24th. Oppenheimer set a $190.00 price objective on shares of DigitalOcean in a research note on Wednesday, May 6th. UBS Group lifted their price objective on DigitalOcean to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Finally, Bank of America upped their target price on DigitalOcean from $103.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $146.36.

Insider Activity at DigitalOcean

In other news, 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 transaction of $1,700,700.00. Following the sale, the chief financial officer owned 538,414 shares in the company, valued at $91,568,068.98. This trade represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 Hilary Schneider sold 4,338 shares of DigitalOcean stock in a transaction on Friday, May 15th. The shares were sold at an average price of $156.38, for a total value of $678,376.44. Following the completion of the sale, the director directly owned 24,323 shares of the company’s stock, valued at approximately $3,803,630.74. This represents a 15.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,338 shares of company stock valued at $6,191,576 over the last ninety days. 0.96% of the stock is owned by corporate insiders.

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.