New Mexico Educational Retirement Board Invests $2.67 Million in DigitalOcean Holdings, Inc. $DOCN

New Mexico Educational Retirement Board acquired a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,000 shares of the company’s stock, valued at approximately $2,670,000.

A number of other institutional investors also recently added to or reduced their stakes in DOCN. Bank of America Corp DE bought a new position in DigitalOcean in the second quarter worth about $241,945,000. Principal Financial Group Inc. boosted its holdings in shares of DigitalOcean by 155.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,108,420 shares of the company’s stock valued at $95,080,000 after buying an additional 674,231 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of DigitalOcean in the 3rd quarter valued at about $21,808,000. Bank of New York Mellon Corp purchased a new position in shares of DigitalOcean in the 2nd quarter worth approximately $98,011,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of DigitalOcean by 90.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,194,845 shares of the company’s stock worth $57,496,000 after acquiring an additional 568,823 shares in the last quarter. Institutional investors own 49.77% of the company’s stock.

Insider Buying and Selling

In other news, Director Warren J. Adelman sold 4,200 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $124.01, for a total value of $520,842.00. Following the transaction, the director directly owned 67,433 shares of the company’s stock, valued at approximately $8,362,366.33. This represents a 5.86% 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, CAO Cherie Barrett sold 4,456 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was 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 owned 65,487 shares of the company’s stock, valued at approximately $8,668,514.19. The trade was a 6.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,656 shares of company stock worth $2,811,383 in the last 90 days. Insiders own 0.96% of the company’s stock.

DigitalOcean Trading Down 8.4%

Shares of DigitalOcean stock opened at $111.50 on Friday. The firm’s 50 day simple moving average is $128.72 and its two-hundred day simple moving average is $115.41. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 95.20 and a beta of 1.61. DigitalOcean Holdings, Inc. has a 12-month low of $30.89 and a 12-month high of $187.50. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.14.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.26 by $0.19. The business had revenue of $281.18 million during the quarter, compared to the consensus estimate of $279.03 million. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. 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 predict that DigitalOcean Holdings, Inc. will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DOCN shares. 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 note on Wednesday, May 6th. Piper Sandler upped their price target on DigitalOcean from $98.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Citigroup increased their price objective on DigitalOcean from $185.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Robert W. Baird began coverage on DigitalOcean in a research report on Tuesday, July 21st. They issued an “outperform” rating and a $165.00 price objective for the company. Finally, Truist Financial assumed coverage on DigitalOcean in a research note on Thursday. They set a “buy” rating and a $175.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $152.81.

DigitalOcean 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.