Mirae Asset Global Investments Co. Ltd. Increases Stake in DigitalOcean Holdings, Inc. $DOCN

Mirae Asset Global Investments Co. Ltd. raised its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 7.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,331 shares of the company’s stock after purchasing an additional 891 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in DigitalOcean were worth $352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CX Institutional lifted its holdings in DigitalOcean by 780.5% in the 2nd quarter. CX Institutional now owns 1,039 shares of the company’s stock valued at $30,000 after purchasing an additional 921 shares in the last quarter. GAMMA Investing LLC lifted its holdings in DigitalOcean by 336.1% in the 1st quarter. GAMMA Investing LLC now owns 1,064 shares of the company’s stock valued at $36,000 after purchasing an additional 820 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in DigitalOcean by 135,100.0% in 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 in the last quarter. SVB Wealth LLC purchased a new position in DigitalOcean in the 1st quarter valued at $48,000. Finally, Advisors Asset Management Inc. increased its stake in shares of DigitalOcean by 39.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock worth $74,000 after acquiring an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

DigitalOcean Price Performance

NYSE DOCN opened at $37.33 on Friday. The stock has a 50-day moving average of $34.12 and a two-hundred day moving average of $30.93. The company has a market cap of $3.40 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.25 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 quarterly earnings data 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. The business had revenue of $218.70 million during 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 business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $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 anticipate that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DOCN has been the subject of a number of recent research reports. Wall Street Zen downgraded DigitalOcean from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. UBS Group initiated coverage on DigitalOcean in a research note on Tuesday. They issued a “neutral” rating and a $40.00 target price for the company. Morgan Stanley raised their target price on DigitalOcean from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Canaccord Genuity Group raised their target price on DigitalOcean from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalOcean in a research note on Wednesday. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.73.

Insider Activity

In other news, insider Bratin Saha sold 13,010 shares of DigitalOcean stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $31.87, for a total value of $414,628.70. Following the completion of the transaction, the insider owned 269,465 shares in the company, valued at approximately $8,587,849.55. This trade represents a 4.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.96% of the company’s stock.

DigitalOcean Company Profile

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).