121,960 Shares in DigitalOcean Holdings, Inc. $DOCN Purchased by Hodges Capital Management Inc.

Hodges Capital Management Inc. purchased a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) in the first quarter, Holdings Channel.com reports. The firm purchased 121,960 shares of the company’s stock, valued at approximately $10,462,000.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP raised its position in shares of DigitalOcean by 54.4% in the 3rd quarter. Allworth Financial LP now owns 724 shares of the company’s stock valued at $25,000 after purchasing an additional 255 shares in the last quarter. Huntington National Bank grew its position in shares of DigitalOcean by 638.3% during the fourth quarter. Huntington National Bank now owns 598 shares of the company’s stock worth $29,000 after buying an additional 517 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of DigitalOcean in the fourth quarter worth $32,000. Banque Cantonale Vaudoise acquired a new stake in DigitalOcean in the first quarter valued at $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in DigitalOcean in the third quarter valued at $37,000. Institutional investors and hedge funds own 49.77% of the company’s stock.

Insiders Place Their Bets

In other DigitalOcean news, Director Hilary Schneider sold 4,338 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $156.38, for a total value of $678,376.44. Following the sale, the director directly owned 24,323 shares of the company’s stock, valued at $3,803,630.74. This trade represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matt Steinfort sold 25,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $152.50, for a total value of $3,812,500.00. Following the completion of the sale, the chief financial officer owned 573,272 shares in the company, valued at $87,423,980. The trade was a 4.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 39,338 shares of company stock valued at $6,191,576. 0.96% of the stock is owned by company insiders.

DigitalOcean Stock Performance

Shares of DOCN stock opened at $129.91 on Monday. The company has a market cap of $13.56 billion, a P/E ratio of 56.73 and a beta of 1.57. The business has a 50 day moving average of $152.40 and a two-hundred day moving average of $95.68. DigitalOcean Holdings, Inc. has a 52 week low of $25.56 and a 52 week high of $187.50. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.92.

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

Analyst Upgrades and Downgrades

DOCN has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of DigitalOcean from $103.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DigitalOcean in a research report on Wednesday, June 24th. Piper Sandler lifted their price target on DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Morgan Stanley boosted their price objective on DigitalOcean from $75.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Citigroup upped their price objective on DigitalOcean from $115.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, DigitalOcean currently has a consensus rating of “Moderate Buy” and an average price target of $146.36.

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.