Advisors Asset Management Inc. Raises Stock Holdings in DigitalOcean Holdings, Inc. $DOCN

Advisors Asset Management Inc. boosted its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 39.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,229 shares of the company’s stock after buying an additional 632 shares during the quarter. Advisors Asset Management Inc.’s holdings in DigitalOcean were worth $74,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Viking Fund Management LLC bought a new stake in shares of DigitalOcean during the 1st quarter valued at about $2,170,000. Wesbanco Bank Inc. bought a new stake in shares of DigitalOcean during the 1st quarter valued at about $808,000. Fuller & Thaler Asset Management Inc. grew its stake in shares of DigitalOcean by 28.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,987,177 shares of the company’s stock valued at $66,352,000 after purchasing an additional 441,535 shares during the period. Nuveen LLC bought a new stake in shares of DigitalOcean during the 1st quarter valued at about $5,737,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of DigitalOcean during the 1st quarter valued at about $265,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DOCN. Canaccord Genuity Group boosted their price target on DigitalOcean from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded DigitalOcean from a “hold” rating to a “buy” rating in a research note on Sunday, June 29th. Morgan Stanley boosted their price objective on DigitalOcean from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Stifel Nicolaus set a $36.00 price objective on DigitalOcean in a research note on Tuesday, August 5th. Finally, Barclays boosted their price objective on DigitalOcean from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.45.

DigitalOcean Trading Down 2.5%

NYSE DOCN opened at $35.65 on Friday. The stock has a market cap of $3.25 billion, a PE ratio of 27.42, a P/E/G ratio of 2.08 and a beta of 1.77. DigitalOcean Holdings, Inc. has a 12 month low of $25.45 and a 12 month high of $47.02. The stock’s 50 day moving average is $30.83 and its 200 day moving average is $31.15.

DigitalOcean (NYSE:DOCN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.12. The business had revenue of $218.70 million for the quarter, compared to analysts’ expectations of $216.62 million. DigitalOcean had a negative return on equity of 73.19% and a net margin of 15.18%.The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. DigitalOcean has set its FY 2025 guidance at 2.050-2.100 EPS. Q3 2025 guidance at 0.450-0.500 EPS. On average, analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Bratin Saha sold 13,010 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $31.87, for a total transaction of $414,628.70. Following the sale, the insider owned 269,465 shares in the company, valued at approximately $8,587,849.55. This represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.

About DigitalOcean

DigitalOcean Holdings, Inc, through its subsidiaries, operates a cloud computing platform in North America, Europe, Asia, and internationally. The company’s platform provides on-demand infrastructure and platform tools for developers, start-ups, and small and growing digital businesses. It also offers infrastructure-as-a-service (IaaS) solutions comprising compute and storage services, as well as networking projects, including Cloud Firewalls software, Managed Load Balancers software, and Virtual Private Cloud (VPC).