Sterling Capital Management LLC Sells 19,749 Shares of DigitalOcean Holdings, Inc. $DOCN

Sterling Capital Management LLC decreased its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 57.1% in the first quarter, Holdings Channel reports. The firm owned 14,833 shares of the company’s stock after selling 19,749 shares during the period. Sterling Capital Management LLC’s holdings in DigitalOcean were worth $1,272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in DigitalOcean by 54.4% during the 3rd quarter. Allworth Financial LP now owns 724 shares of the company’s stock worth $25,000 after purchasing an additional 255 shares during the period. Huntington National Bank lifted its holdings in shares of DigitalOcean by 638.3% in the 4th quarter. Huntington National Bank now owns 598 shares of the company’s stock worth $29,000 after buying an additional 517 shares during the period. NBC Securities Inc. bought a new position in shares of DigitalOcean during the 4th quarter worth $32,000. Banque Cantonale Vaudoise bought a new position in shares of DigitalOcean during the 1st quarter worth $33,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of DigitalOcean during the third quarter valued at $37,000. Institutional investors own 49.77% of the company’s stock.

Insiders Place Their Bets

In other news, Director Hilary Schneider sold 4,338 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $156.38, for a total transaction of $678,376.44. Following the completion of the sale, the director owned 24,323 shares in the company, valued at approximately $3,803,630.74. This represents a 15.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matt Steinfort sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 573,272 shares of the company’s stock, valued at $87,423,980. The trade was a 4.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 39,338 shares of company stock worth $6,191,576. Insiders own 0.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DOCN. Oppenheimer set a $190.00 price objective on DigitalOcean in a report on Wednesday, May 6th. Morgan Stanley raised their target price on shares of DigitalOcean from $75.00 to $175.00 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 target on shares of DigitalOcean in a research report on Thursday, June 11th. Citigroup increased their price objective on shares of DigitalOcean from $115.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, KeyCorp assumed coverage on DigitalOcean in a report on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 price target on the stock. One 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $146.36.

DigitalOcean Stock Up 7.3%

Shares of DigitalOcean stock opened at $149.46 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.92. The company has a market cap of $15.60 billion, a P/E ratio of 65.27 and a beta of 1.59. The firm’s 50 day moving average price is $148.48 and its 200-day moving average price is $93.09. DigitalOcean Holdings, Inc. has a 52-week low of $25.56 and a 52-week high of $187.50.

DigitalOcean (NYSE:DOCN) last posted its 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. The company had revenue of $257.90 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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, sell-side analysts predict that DigitalOcean Holdings, Inc. will post 0.54 EPS for the current fiscal year.

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.