Peregrine Capital Management LLC Takes $13.53 Million Position in DigitalOcean Holdings, Inc. $DOCN

Peregrine Capital Management LLC acquired a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 157,724 shares of the company’s stock, valued at approximately $13,530,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in DOCN. Janney Montgomery Scott LLC bought a new stake in DigitalOcean during the first quarter valued at approximately $402,000. Pictet Asset Management Holding SA raised its position in DigitalOcean by 22.3% in the first quarter. Pictet Asset Management Holding SA now owns 11,653 shares of the company’s stock worth $1,000,000 after acquiring an additional 2,128 shares during the period. Louisiana State Employees Retirement System bought a new position in DigitalOcean in the first quarter worth approximately $2,608,000. Banque Cantonale Vaudoise purchased a new position in shares of DigitalOcean during the 1st quarter worth $33,000. Finally, Campbell Newman Asset Management Inc. boosted its stake in shares of DigitalOcean by 2.6% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 44,793 shares of the company’s stock worth $3,842,000 after acquiring an additional 1,126 shares during the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

DigitalOcean Trading Up 4.8%

DigitalOcean stock opened at $157.03 on Wednesday. DigitalOcean Holdings, Inc. has a 1 year low of $25.56 and a 1 year high of $187.50. The firm’s 50 day moving average price is $149.90 and its 200-day moving average price is $93.84. 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 cap of $16.39 billion, a P/E ratio of 68.57 and a beta of 1.60.

DigitalOcean (NYSE:DOCN) last issued its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.17. The firm had revenue of $257.90 million during the quarter, compared to analyst estimates of $249.76 million. DigitalOcean had a net margin of 24.97% and a return on equity of 88.86%. DigitalOcean’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. On average, equities analysts predict that DigitalOcean Holdings, Inc. will post 0.54 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 transaction of $3,812,500.00. Following the completion of the transaction, the chief financial officer owned 573,272 shares in the company, valued at $87,423,980. This trade represents a 4.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hilary Schneider sold 4,338 shares of the business’s 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 completion of the sale, the director owned 24,323 shares in the company, valued at $3,803,630.74. This represents a 15.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,338 shares of company stock valued at $6,191,576 in the last three months. Insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on DOCN. Morgan Stanley raised their target price on DigitalOcean from $75.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. KeyCorp started coverage on DigitalOcean in a research report on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 price target for the company. Citizens Jmp upped their price target on DigitalOcean from $83.00 to $105.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 26th. The Goldman Sachs Group boosted their price objective on DigitalOcean from $78.00 to $179.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $200.00 target price on shares of DigitalOcean in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.