CastleKnight Management LP Sells 208,700 Shares of DigitalOcean Holdings, Inc. $DOCN

CastleKnight Management LP lowered its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 73.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 76,000 shares of the company’s stock after selling 208,700 shares during the quarter. CastleKnight Management LP owned 0.08% of DigitalOcean worth $3,657,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bullseye Asset Management LLC increased its position in shares of DigitalOcean by 267.8% during the 3rd quarter. Bullseye Asset Management LLC now owns 99,300 shares of the company’s stock valued at $3,392,000 after purchasing an additional 72,300 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of DigitalOcean during the 4th quarter valued at approximately $2,358,000. New York State Teachers Retirement System increased its position in shares of DigitalOcean by 33.0% during the 4th quarter. New York State Teachers Retirement System now owns 49,310 shares of the company’s stock valued at $2,373,000 after purchasing an additional 12,229 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of DigitalOcean during the 3rd quarter valued at approximately $8,951,000. Finally, SG Americas Securities LLC increased its position in shares of DigitalOcean by 266.1% during the 4th quarter. SG Americas Securities LLC now owns 167,126 shares of the company’s stock valued at $8,042,000 after purchasing an additional 121,473 shares during the last quarter. Institutional investors own 49.77% of the company’s stock.

DigitalOcean Trading Up 2.1%

Shares of NYSE DOCN opened at $177.89 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $18.56 billion, a P/E ratio of 77.68 and a beta of 1.60. DigitalOcean Holdings, Inc. has a 1-year low of $25.56 and a 1-year high of $187.50. The business has a fifty day moving average price of $136.60 and a 200 day moving average price of $86.90.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.17. DigitalOcean had a return on equity of 88.86% and a net margin of 24.97%.The company had revenue of $257.91 million during the quarter, compared to analysts’ expectations of $249.76 million. During the same period last year, the business posted $0.56 earnings per share. The firm’s revenue was up 22.4% compared to the same quarter last year. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. Equities research analysts expect that DigitalOcean Holdings, Inc. will post 0.54 EPS for the current fiscal year.

Insider Transactions at DigitalOcean

In other news, Director Hilary Schneider sold 4,338 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $156.38, for a total value of $678,376.44. Following the transaction, the director directly owned 24,323 shares of the company’s stock, valued at approximately $3,803,630.74. This represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matt Steinfort sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $152.50, for a total value of $3,812,500.00. Following the sale, the chief financial officer directly owned 573,272 shares in the company, valued at approximately $87,423,980. This trade represents a 4.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 39,338 shares of company stock worth $6,191,576 over the last three months. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

DOCN has been the topic of several analyst reports. Stifel Nicolaus set a $57.00 target price on DigitalOcean in a research report on Tuesday, February 24th. Morgan Stanley boosted their target price on DigitalOcean from $75.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Barclays boosted their target price on DigitalOcean from $105.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $200.00 price objective on shares of DigitalOcean in a research report on Thursday, June 11th. Finally, UBS Group upped their price objective on DigitalOcean to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, DigitalOcean currently has an average rating of “Moderate Buy” and an average target price of $146.36.

About DigitalOcean

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.