Truist Securities Initiates Coverage On DigitalOcean Holdings with Buy Rating, Announces Price Target of $175

DigitalOcean's CFO Sells Over 35,000 Shares for $3.8 Million After a 241% One-Year Return

DigitalOcean's CFO Matt Steinfort sold 35,151 shares for approximately $3.8 million between September 1-3, 2026. Of these, 25,151 shares were sold to cover tax withholding obligations from RSU vesting, while 10,000 shares were sold under a pre-established Rule 10b5-1 trading plan. The CFO retains over 503,000 shares worth $55.1 million. The stock has surged 241% over the past year, driven by 29% sales growth in Q2 2026 to $281 million, boosted by AI demand.

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DigitalOcean Holdings shares are trading higher after Truist Securities initiated coverage on the stock with a Buy rating and announced a $175 price target.