Osterweis Capital Management Inc. Purchases New Holdings in DigitalOcean Holdings, Inc. $DOCN

Osterweis Capital Management Inc. purchased a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the second quarter, Holdings Channel reports. The firm purchased 91,535 shares of the company’s stock, valued at approximately $14,374,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nicholas Investment Partners LP acquired a new position in DigitalOcean in the 2nd quarter valued at $2,983,000. Legal & General Group Plc acquired a new stake in shares of DigitalOcean during the 2nd quarter worth $16,502,000. The Manufacturers Life Insurance Company bought a new position in shares of DigitalOcean in the second quarter worth $10,015,000. Algert Global LLC bought a new position in shares of DigitalOcean in the second quarter worth $7,979,000. Finally, Sanctuary Advisors LLC acquired a new position in DigitalOcean in the second quarter valued at about $1,279,000. Institutional investors own 49.77% of the company’s stock.

Analyst Ratings Changes

DOCN has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of DigitalOcean from $75.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of DigitalOcean from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group upped their price target on shares of DigitalOcean from $78.00 to $179.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Barclays increased their price target on shares of DigitalOcean from $160.00 to $161.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, UBS Group decreased their price objective on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $151.33.

DigitalOcean Stock Down 3.6%

Shares of DOCN opened at $111.53 on Tuesday. 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 52 week low of $30.36 and a 52 week high of $187.50. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of 50.93, a PEG ratio of 98.99 and a beta of 1.61. The stock has a fifty day moving average of $133.48 and a 200-day moving average of $114.23.

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

Insider Activity

In other news, CFO Matt Steinfort sold 10,000 shares of the business’s stock in a transaction dated 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 directly owned 538,414 shares in the company, valued at approximately $91,568,068.98. The trade was a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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, CAO Cherie Barrett sold 4,456 shares of the company’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 value of $589,840.72. Following the completion of the transaction, the chief accounting officer directly owned 65,487 shares of the company’s stock, valued at $8,668,514.19. This represents a 6.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 18,656 shares of company stock valued at $2,811,383. 0.96% of the stock is currently 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.