Tocqueville Asset Management L.P. Purchases Shares of 7,500 DigitalOcean Holdings, Inc. $DOCN

Tocqueville Asset Management L.P. purchased a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,500 shares of the company’s stock, valued at approximately $1,178,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in DigitalOcean by 155.3% during the first quarter. Principal Financial Group Inc. now owns 1,108,420 shares of the company’s stock valued at $95,080,000 after acquiring an additional 674,231 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in DigitalOcean in the third quarter worth $21,808,000. Bank of New York Mellon Corp acquired a new position in shares of DigitalOcean during the second quarter worth $98,011,000. Arrowstreet Capital Limited Partnership increased its position in shares of DigitalOcean by 90.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,194,845 shares of the company’s stock worth $57,496,000 after purchasing an additional 568,823 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of DigitalOcean by 784.2% during the 4th quarter. Franklin Resources Inc. now owns 494,314 shares of the company’s stock valued at $23,786,000 after purchasing an additional 438,411 shares during the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DOCN. Robert W. Baird started coverage on DigitalOcean in a research report on Tuesday, July 21st. They issued an “outperform” rating and a $165.00 price objective for the company. Morgan Stanley increased their price target on DigitalOcean from $75.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings raised DigitalOcean from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Canaccord Genuity Group restated a “buy” rating and set a $200.00 price target on shares of DigitalOcean in a research note on Friday, July 10th. Finally, Stifel Nicolaus upgraded shares of DigitalOcean from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $160.00 in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, DigitalOcean presently has a consensus rating of “Buy” and an average price target of $151.33.

Insiders Place Their Bets

In other DigitalOcean news, Director Warren J. Adelman sold 4,200 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was 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 of the company’s stock, valued at approximately $8,362,366.33. The trade was a 5.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matt Steinfort sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the completion of the transaction, the chief financial officer owned 538,414 shares of the company’s stock, valued at approximately $91,568,068.98. This represents a 1.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders have sold 18,656 shares of company stock valued at $2,811,383. Company insiders own 0.96% of the company’s stock.

DigitalOcean Price Performance

Shares of NYSE:DOCN opened at $114.73 on Friday. DigitalOcean Holdings, Inc. has a twelve month low of $29.62 and a twelve month high of $187.50. The company’s 50 day moving average is $135.95 and its 200 day moving average is $113.47. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14. The company has a market cap of $11.97 billion, a PE ratio of 52.39, a price-to-earnings-growth ratio of 99.87 and a beta of 1.61.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.26 by $0.19. The business had revenue of $281.18 million during 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 business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the business posted $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. On average, sell-side analysts forecast that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current year.

DigitalOcean 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.