Peregrine Capital Management LLC Sells 37,565 Shares of DigitalOcean Holdings, Inc. $DOCN

Peregrine Capital Management LLC reduced its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 23.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,159 shares of the company’s stock after selling 37,565 shares during the quarter. Peregrine Capital Management LLC’s holdings in DigitalOcean were worth $18,869,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of DOCN. Allworth Financial LP raised its holdings in shares of DigitalOcean by 54.4% during the 3rd quarter. Allworth Financial LP now owns 724 shares of the company’s stock valued at $25,000 after buying an additional 255 shares in the last quarter. Parallel Advisors LLC boosted its stake in DigitalOcean by 66.2% in the first quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock worth $28,000 after buying an additional 129 shares in the last quarter. Huntington National Bank boosted its stake in DigitalOcean by 638.3% in 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 position in DigitalOcean during the fourth quarter valued at approximately $32,000. Finally, Banque Cantonale Vaudoise bought a new position in DigitalOcean during the first quarter valued at approximately $33,000. 49.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DOCN shares. Piper Sandler boosted their price objective on shares of DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $200.00 target price on shares of DigitalOcean in a report on Friday, July 10th. UBS Group decreased their target price on shares of DigitalOcean from $155.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Barclays boosted their price target on shares of DigitalOcean from $160.00 to $161.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Robert W. Baird initiated coverage on shares of DigitalOcean in a research report on Tuesday, July 21st. They set an “outperform” rating and a $165.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $151.33.

DigitalOcean Stock Performance

Shares of DOCN stock opened at $133.18 on Thursday. The company has a market capitalization of $13.90 billion, a P/E ratio of 60.81, a PEG ratio of 103.46 and a beta of 1.61. DigitalOcean Holdings, Inc. has a fifty-two week low of $29.62 and a fifty-two 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 stock has a 50 day moving average price of $141.53 and a two-hundred day moving average price of $110.58.

DigitalOcean (NYSE:DOCN) last issued its earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $279.03 million. During the same quarter last year, the business earned $0.39 earnings per share. The business’s revenue was up 28.6% on a year-over-year basis. DigitalOcean has set its FY 2026 guidance at 1.350-1.400 EPS and its Q3 2026 guidance at 0.280-0.300 EPS. Analysts expect that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current year.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, CFO Matt Steinfort sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $170.07, for a total value of $1,700,700.00. Following the sale, the chief financial officer owned 538,414 shares of the company’s stock, valued at $91,568,068.98. This trade represents a 1.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, Director Hilary Schneider sold 4,338 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $156.38, for a total transaction of $678,376.44. Following the completion of the transaction, the director owned 24,323 shares in the company, valued at $3,803,630.74. The trade was a 15.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 43,538 shares of company stock valued at $6,712,418 in the last quarter. Company insiders own 0.96% of the company’s stock.

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.