Public Employees Retirement System of Ohio Acquires Shares of 23,601 DigitalOcean Holdings, Inc. $DOCN

Public Employees Retirement System of Ohio bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 2nd quarter, HoldingsChannel reports. The fund bought 23,601 shares of the company’s stock, valued at approximately $3,706,000.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of DigitalOcean by 14.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company’s stock worth $47,000 after purchasing an additional 71 shares during the period. Parallel Advisors LLC lifted 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 purchasing an additional 129 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in shares of DigitalOcean by 1.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 10,001 shares of the company’s stock valued at $481,000 after buying an additional 185 shares during the period. Hilltop National Bank purchased a new position in shares of DigitalOcean during the second quarter valued at approximately $38,000. Finally, Allworth Financial LP grew its stake in shares of DigitalOcean by 54.4% during the third quarter. Allworth Financial LP now owns 724 shares of the company’s stock valued at $25,000 after buying an additional 255 shares during the last quarter. Institutional investors own 49.77% of the company’s stock.

Insider Activity at DigitalOcean

In other DigitalOcean news, CAO Cherie Barrett sold 4,456 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $132.37, for a total transaction of $589,840.72. Following the completion of the sale, the chief accounting officer owned 65,487 shares in the company, valued at $8,668,514.19. This represents a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a 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. Also, Director Warren J. Adelman sold 4,200 shares of the stock in a transaction 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 sale, the director directly owned 67,433 shares in the company, valued at $8,362,366.33. This trade represents a 5.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,641 shares of company stock valued at $2,589,317 over the last ninety days. 0.96% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DOCN. Citigroup raised their price target on DigitalOcean from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. KeyCorp assumed coverage on DigitalOcean in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $200.00 target price on the stock. Weiss Ratings upgraded DigitalOcean from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Truist Financial initiated coverage on shares of DigitalOcean in a research note on Thursday, August 27th. They set a “buy” rating and a $175.00 target price for the company. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $200.00 price target on shares of DigitalOcean in a report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, DigitalOcean currently has an average rating of “Buy” and a consensus target price of $152.81.

DigitalOcean Stock Performance

DOCN stock opened at $109.50 on Friday. DigitalOcean Holdings, Inc. has a 1-year low of $30.89 and a 1-year high of $187.50. The business has a 50-day moving average price of $125.06 and a 200 day moving average price of $117.00. The company has a market capitalization of $11.43 billion, a P/E ratio of 50.00, a PEG ratio of 89.78 and a beta of 1.57. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.31 and a quick ratio of 1.31.

DigitalOcean (NYSE:DOCN) last posted its earnings results on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $279.03 million. During the same quarter last year, the firm posted $0.39 EPS. The company’s revenue for the quarter 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. As a group, equities research analysts forecast that DigitalOcean Holdings, Inc. will post 0.63 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.