Mutual of America Capital Management LLC Sells 1,204 Shares of DigitalOcean Holdings, Inc. $DOCN

Mutual of America Capital Management LLC decreased its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,069 shares of the company’s stock after selling 1,204 shares during the period. Mutual of America Capital Management LLC’s holdings in DigitalOcean were worth $230,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DOCN. CX Institutional boosted its stake in shares of 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 boosted its stake in shares of 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. SVB Wealth LLC purchased a new stake in shares of DigitalOcean in the 1st quarter valued at $48,000. Farther Finance Advisors LLC boosted its stake in shares of DigitalOcean by 42.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,924 shares of the company’s stock valued at $55,000 after purchasing an additional 572 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted 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 valued at $74,000 after purchasing an additional 632 shares in the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Wall Street Analyst Weigh In

DOCN has been the subject of a number of research reports. Stifel Nicolaus set a $36.00 price objective on shares of DigitalOcean in a research note on Tuesday, August 5th. Barclays increased their price target on shares of DigitalOcean from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Canaccord Genuity Group increased their price target on shares of DigitalOcean from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. UBS Group assumed coverage on shares of DigitalOcean in a research report on Tuesday, October 7th. They set a “neutral” rating and a $40.00 price target for the company. Finally, Wall Street Zen cut shares of DigitalOcean from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, DigitalOcean currently has a consensus rating of “Hold” and a consensus target price of $42.73.

DigitalOcean Price Performance

Shares of NYSE DOCN opened at $39.60 on Thursday. DigitalOcean Holdings, Inc. has a 1 year low of $25.45 and a 1 year high of $47.02. The stock has a market cap of $3.60 billion, a P/E ratio of 30.46, a price-to-earnings-growth ratio of 2.26 and a beta of 1.76. The firm has a 50-day moving average of $36.43 and a 200 day moving average of $31.79.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.12. The business had revenue of $218.70 million during the quarter, compared to analyst estimates of $216.62 million. DigitalOcean had a net margin of 15.18% and a negative return on equity of 73.19%. DigitalOcean’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the business 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. Research analysts expect that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other DigitalOcean news, insider Bratin Saha sold 13,010 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $31.87, for a total transaction of $414,628.70. Following the completion of the sale, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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).