Allspring Global Investments Holdings LLC Has $59.95 Million Holdings in DigitalOcean Holdings, Inc. $DOCN

Allspring Global Investments Holdings LLC grew its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 81.3% in the 1st quarter, Holdings Channel reports. The firm owned 683,707 shares of the company’s stock after acquiring an additional 306,529 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in DigitalOcean were worth $59,947,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOCN. Allworth Financial LP boosted its stake in shares of DigitalOcean by 54.4% in the 3rd quarter. Allworth Financial LP now owns 724 shares of the company’s stock valued at $25,000 after purchasing an additional 255 shares during the last quarter. Huntington National Bank raised its stake in DigitalOcean by 638.3% during the fourth quarter. Huntington National Bank now owns 598 shares of the company’s stock worth $29,000 after buying an additional 517 shares during the last quarter. NBC Securities Inc. bought a new position in DigitalOcean during the fourth quarter worth $32,000. Banque Cantonale Vaudoise acquired a new position in DigitalOcean in the first quarter valued at $33,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in DigitalOcean in the third quarter valued at $37,000. Institutional investors and hedge funds own 49.77% of the company’s stock.

Insider Buying and Selling

In other DigitalOcean news, Director Hilary Schneider sold 4,338 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $156.38, for a total value of $678,376.44. Following the completion of the sale, the director owned 24,323 shares of the company’s stock, valued at approximately $3,803,630.74. This trade represents a 15.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matt Steinfort sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $152.50, for a total value of $3,812,500.00. Following the sale, the chief financial officer owned 573,272 shares of the company’s stock, valued at approximately $87,423,980. This represents a 4.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 39,338 shares of company stock worth $6,191,576. 0.96% of the stock is owned by company insiders.

DigitalOcean Trading Up 2.2%

NYSE:DOCN opened at $119.56 on Friday. DigitalOcean Holdings, Inc. has a 12 month low of $25.56 and a 12 month high of $187.50. 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 stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 52.21 and a beta of 1.57. The firm has a fifty day simple moving average of $153.94 and a two-hundred day simple moving average of $101.00.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.17. The firm had revenue of $257.90 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 business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior 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. Analysts expect that DigitalOcean Holdings, Inc. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on DOCN. Citigroup increased their price target on DigitalOcean from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Piper Sandler boosted their price objective on DigitalOcean from $98.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded DigitalOcean from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Morgan Stanley raised their target price on DigitalOcean from $75.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group lifted their target price on DigitalOcean from $78.00 to $179.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, DigitalOcean has an average rating of “Moderate Buy” and a consensus target price of $145.36.

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.