State of Alaska Department of Revenue Has $1.07 Million Holdings in DigitalOcean Holdings, Inc. $DOCN

State of Alaska Department of Revenue increased its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 5.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,368 shares of the company’s stock after purchasing an additional 2,086 shares during the period. State of Alaska Department of Revenue’s holdings in DigitalOcean were worth $1,067,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System boosted its stake in DigitalOcean by 6.9% in the fourth quarter. California State Teachers Retirement System now owns 60,357 shares of the company’s stock valued at $2,056,000 after buying an additional 3,880 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of DigitalOcean by 14,460.2% in the 1st quarter. GAMMA Investing LLC now owns 35,527 shares of the company’s stock valued at $1,186,000 after purchasing an additional 35,283 shares in the last quarter. Wesbanco Bank Inc. bought a new stake in shares of DigitalOcean during the 1st quarter valued at approximately $808,000. Farther Finance Advisors LLC grew its holdings in shares of DigitalOcean by 135,100.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,352 shares of the company’s stock valued at $46,000 after purchasing an additional 1,351 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. increased its position in DigitalOcean by 202.9% during the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 38,603 shares of the company’s stock worth $1,289,000 after purchasing an additional 25,858 shares in the last quarter. Institutional investors own 49.77% of the company’s stock.

Insiders Place Their Bets

In related news, insider Bratin Saha sold 13,010 shares of DigitalOcean 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 completion of the sale, the insider owned 269,465 shares of the company’s stock, valued at approximately $8,587,849.55. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.74% of the company’s stock.

DigitalOcean Price Performance

NYSE DOCN opened at $37.42 on Monday. The company has a fifty day moving average price of $33.07 and a 200-day moving average price of $30.81. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 2.12 and a beta of 1.76. DigitalOcean Holdings, Inc. has a 1 year low of $25.45 and a 1 year high of $47.02.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on DOCN. Canaccord Genuity Group increased their target price on DigitalOcean from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Morgan Stanley raised their price objective on shares of DigitalOcean from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of DigitalOcean from a “buy” rating to a “hold” rating in a report on Friday. Stifel Nicolaus set a $36.00 price target on shares of DigitalOcean in a research note on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of DigitalOcean in a report on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.45.

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).