VIRGINIA RETIREMENT SYSTEMS ET Al Takes $2.56 Million Position in DigitalOcean Holdings, Inc. $DOCN

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,300 shares of the company’s stock, valued at approximately $2,560,000.

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

DigitalOcean Trading Down 1.4%

NYSE:DOCN opened at $130.78 on Friday. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of 59.72, a PEG ratio of 113.57 and a beta of 1.57. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.31 and a current ratio of 1.31. DigitalOcean Holdings, Inc. has a 1 year low of $33.69 and a 1 year high of $187.50. The business has a fifty day moving average of $122.95 and a 200-day moving average of $118.97.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.19. The business had revenue of $281.18 million for the quarter, compared to analysts’ expectations of $279.03 million. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The company’s revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 earnings per share. 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 analysts predict that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DOCN. UBS Group cut their target price on DigitalOcean from $155.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Citigroup upped their price target on shares of DigitalOcean from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Truist Financial initiated coverage on shares of DigitalOcean in a research report on Thursday, August 27th. They issued a “buy” rating and a $175.00 price objective on the stock. Stifel Nicolaus upgraded shares of DigitalOcean from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $160.00 in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of DigitalOcean from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.81.

Insider Buying and Selling at DigitalOcean

In other news, Director Warren J. Adelman sold 4,200 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Cherie Barrett sold 4,456 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $132.37, for a total transaction of $589,840.72. Following the transaction, the chief accounting officer owned 65,487 shares in the company, valued at $8,668,514.19. This represents a 6.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 22,641 shares of company stock valued at $2,589,317. Company insiders own 0.96% of the company’s stock.

About DigitalOcean

DigitalOcean Holdings, Inc provides cloud computing services designed primarily for developers, startups, and small and medium-sized businesses. Its platform offers on-demand infrastructure and developer tools intended to simplify the process of building, deploying, and scaling applications.

The company’s products include virtual machines known as Droplets, managed Kubernetes, managed databases, object storage through Spaces, block storage, networking services, and App Platform, a platform-as-a-service offering for application deployment.