105,086 Shares in DigitalOcean Holdings, Inc. $DOCN Purchased by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 105,086 shares of the company’s stock, valued at approximately $16,502,000.

Several other hedge funds have also bought and sold shares of DOCN. The Manufacturers Life Insurance Company acquired a new stake in shares of DigitalOcean during the 2nd quarter worth approximately $10,015,000. Algert Global LLC acquired a new position in shares of DigitalOcean in the 2nd quarter valued at $7,979,000. Sanctuary Advisors LLC acquired a new position in shares of DigitalOcean in the 2nd quarter valued at $1,279,000. Wealth High Governance Capital Ltda purchased a new stake in DigitalOcean during the second quarter worth $8,672,000. Finally, E20 Capital Ltd acquired a new stake in DigitalOcean during the second quarter valued at $11,938,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

DigitalOcean Stock Performance

DOCN opened at $111.50 on Monday. The firm’s fifty day simple moving average is $128.72 and its two-hundred day simple moving average is $115.77. DigitalOcean Holdings, Inc. has a 52-week low of $30.89 and a 52-week high of $187.50. The company has a market cap of $11.64 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 95.20 and a beta of 1.61. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.14.

DigitalOcean (NYSE:DOCN) last released its earnings results on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.19. DigitalOcean had a net margin of 23.26% and a return on equity of 31.01%. The business had revenue of $281.18 million during the quarter, compared to analysts’ expectations of $279.03 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The company’s quarterly 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. Equities analysts anticipate that DigitalOcean Holdings, Inc. will post 0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Oppenheimer set a $190.00 price objective on shares of DigitalOcean in a research report on Wednesday, May 6th. Canaccord Genuity Group restated a “buy” rating and set a $200.00 target price on shares of DigitalOcean in a research report on Friday, July 10th. Morgan Stanley upped their price target on DigitalOcean from $75.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Piper Sandler increased 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. Finally, Truist Financial assumed coverage on DigitalOcean in a report on Thursday. They issued a “buy” rating and a $175.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $152.81.

Insider Buying and Selling

In other news, CAO Cherie Barrett sold 4,456 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $132.37, for a total value of $589,840.72. Following the transaction, the chief accounting officer owned 65,487 shares in the company, valued at $8,668,514.19. This trade represents a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Warren J. Adelman sold 4,200 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $124.01, for a total value of $520,842.00. Following the completion of the transaction, the director owned 67,433 shares in the company, valued at approximately $8,362,366.33. This trade represents a 5.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 18,656 shares of company stock worth $2,811,383. Insiders own 0.96% of the company’s stock.

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.