Matt Steinfort Sells 10,000 Shares of DigitalOcean (NYSE:DOCN) Stock

DigitalOcean Holdings, Inc. (NYSE:DOCN) CFO Matt Steinfort sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the sale, the chief financial officer owned 538,414 shares in the company, valued at $91,568,068.98. This represents a 1.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Matt Steinfort also recently made the following trade(s):

• On Friday, May 15th, Matt Steinfort sold 25,000 shares of DigitalOcean stock. The stock was sold at an average price of $152.50, for a total transaction of $3,812,500.00.

DigitalOcean Stock Performance

NYSE DOCN opened at $180.88 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $18.88 billion, a price-to-earnings ratio of 78.99 and a beta of 1.60. The firm’s 50 day simple moving average is $120.95 and its 200 day simple moving average is $78.77. DigitalOcean Holdings, Inc. has a 1 year low of $25.56 and a 1 year high of $184.46.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.17. The business had revenue of $257.91 million for 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%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. As a group, research analysts expect that DigitalOcean Holdings, Inc. will post 0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on DOCN shares. Oppenheimer set a $190.00 target price on shares of DigitalOcean in a research report on Wednesday, May 6th. Piper Sandler raised their target price on shares of DigitalOcean from $98.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Cantor Fitzgerald raised their target price on shares of DigitalOcean from $68.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Citigroup raised their target price on shares of DigitalOcean from $115.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group raised their target price on shares of DigitalOcean from $120.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, DigitalOcean currently has an average rating of “Moderate Buy” and an average price target of $146.36.

Hedge Funds Weigh In On DigitalOcean

A number of hedge funds have recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in shares of DigitalOcean by 66.2% during 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 period. Optiver Holding B.V. lifted its holdings in shares of DigitalOcean by 1,063.9% during the first quarter. Optiver Holding B.V. now owns 419 shares of the company’s stock worth $36,000 after purchasing an additional 383 shares during the period. Norris Financial Group LLC acquired a new position in shares of DigitalOcean during the first quarter worth $7,234,000. Edgestream Partners L.P. acquired a new position in shares of DigitalOcean during the first quarter worth $3,119,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of DigitalOcean by 3.8% during the first quarter. Janus Henderson Group PLC now owns 33,376 shares of the company’s stock worth $2,864,000 after purchasing an additional 1,235 shares during the period. Institutional investors and hedge funds own 49.77% 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.