Spire Wealth Management Takes $3.51 Million Position in DigitalOcean Holdings, Inc. $DOCN

Spire Wealth Management acquired a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 2nd quarter, Holdings Channel reports. The firm acquired 22,431 shares of the company’s stock, valued at approximately $3,513,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP lifted its stake in 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 during the last quarter. Parallel Advisors LLC boosted its stake 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 increased its holdings in shares of DigitalOcean by 638.3% during the 4th quarter. Huntington National Bank now owns 598 shares of the company’s stock worth $29,000 after acquiring an additional 517 shares during the last quarter. NBC Securities Inc. bought a new stake in DigitalOcean in the 4th quarter valued at $32,000. Finally, Banque Cantonale Vaudoise acquired a new stake in DigitalOcean during the 1st quarter valued at $33,000. 49.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DOCN shares. KeyCorp started coverage on shares of DigitalOcean in a report on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 price objective on the stock. Barclays upped their price target on shares of DigitalOcean from $160.00 to $161.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Citigroup increased their price target on shares of DigitalOcean from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded DigitalOcean from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Piper Sandler increased their target price on DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $151.33.

DigitalOcean Price Performance

NYSE:DOCN opened at $133.18 on Thursday. DigitalOcean Holdings, Inc. has a 52 week low of $29.62 and a 52 week high of $187.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.31 and a current ratio of 1.31. The firm’s 50-day simple moving average is $141.53 and its 200 day simple moving average is $110.58. The firm has a market cap of $13.90 billion, a price-to-earnings ratio of 60.81, a P/E/G ratio of 103.46 and a beta of 1.61.

DigitalOcean (NYSE:DOCN) last announced its earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $279.03 million. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue was up 28.6% compared to the same quarter last year. 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, sell-side analysts predict that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Warren J. Adelman sold 4,200 shares of the stock in a transaction that occurred 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 sale, the director owned 67,433 shares of the company’s stock, valued at $8,362,366.33. This represents a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $1,700,700.00. Following the transaction, the chief financial officer owned 538,414 shares in the company, valued at approximately $91,568,068.98. This trade represents a 1.82% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 43,538 shares of company stock valued at $6,712,418 over the last 90 days. 0.96% of the stock is owned by corporate insiders.

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.