CenterBook Partners LP Makes New Investment in DigitalOcean Holdings, Inc. $DOCN

CenterBook Partners LP bought a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 78,866 shares of the company’s stock, valued at approximately $3,795,000. CenterBook Partners LP owned approximately 0.09% of DigitalOcean at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOCN. Alyeska Investment Group L.P. bought a new position in DigitalOcean during the third quarter worth about $21,808,000. Vanguard Group Inc. lifted its holdings in shares of DigitalOcean by 5.0% in the third quarter. Vanguard Group Inc. now owns 9,362,889 shares of the company’s stock valued at $319,836,000 after purchasing an additional 442,617 shares in the last quarter. Danske Bank A S bought a new stake in shares of DigitalOcean in the third quarter valued at about $14,582,000. Lazard Asset Management LLC lifted its holdings in shares of DigitalOcean by 34.5% in the second quarter. Lazard Asset Management LLC now owns 1,660,731 shares of the company’s stock valued at $47,430,000 after purchasing an additional 426,264 shares in the last quarter. Finally, Fund 1 Investments LLC bought a new stake in shares of DigitalOcean in the third quarter valued at about $13,011,000. 49.77% of the stock is currently owned by institutional investors.

DigitalOcean Price Performance

NYSE:DOCN opened at $169.17 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.46 and a current ratio of 1.46. The stock’s 50-day simple moving average is $124.29 and its 200 day simple moving average is $80.54. The company has a market cap of $17.65 billion, a P/E ratio of 73.87 and a beta of 1.59. DigitalOcean Holdings, Inc. has a 52-week low of $25.56 and a 52-week high of $184.46.

DigitalOcean (NYSE:DOCN) last released its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.17. The business had revenue of $257.91 million for the quarter, compared to the consensus estimate of $249.76 million. DigitalOcean had a return on equity of 88.86% and a net margin of 24.97%.DigitalOcean’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. As a group, sell-side analysts forecast that DigitalOcean Holdings, Inc. will post 0.54 EPS for the current fiscal year.

Analyst Ratings Changes

DOCN has been the topic of a number of research reports. Bank of America boosted their price target on DigitalOcean from $103.00 to $107.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Citizens Jmp boosted their price target on DigitalOcean from $83.00 to $105.00 and gave the company a “market outperform” rating in a report on Thursday, March 26th. Stifel Nicolaus set a $57.00 price target on DigitalOcean in a report on Tuesday, February 24th. Barclays boosted their price target on DigitalOcean from $105.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, UBS Group boosted their price target on DigitalOcean to $175.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, DigitalOcean has an average rating of “Moderate Buy” and an average target price of $146.36.

Insider Transactions at DigitalOcean

In related news, CFO Matt Steinfort sold 10,000 shares of DigitalOcean stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $170.07, for a total value of $1,700,700.00. Following the sale, the chief financial officer owned 538,414 shares of the company’s stock, valued at approximately $91,568,068.98. The trade was a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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. Also, Director Hilary Schneider sold 4,338 shares of DigitalOcean stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $156.38, for a total value of $678,376.44. Following the completion of the sale, the director directly owned 24,323 shares in the company, valued at approximately $3,803,630.74. This represents a 15.14% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 39,338 shares of company stock worth $6,191,576. 0.96% of the stock is owned by company insiders.

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.