Sumitomo Mitsui Trust Group Inc. Purchases 2,155 Shares of DigitalOcean Holdings, Inc. $DOCN

Sumitomo Mitsui Trust Group Inc. grew its position in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 12.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,884 shares of the company’s stock after buying an additional 2,155 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in DigitalOcean were worth $539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in DigitalOcean by 25.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 215,483 shares of the company’s stock worth $6,038,000 after acquiring an additional 43,732 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of DigitalOcean by 28.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,987,177 shares of the company’s stock worth $66,352,000 after purchasing an additional 441,535 shares in the last quarter. Nuveen LLC purchased a new position in shares of DigitalOcean in the first quarter worth $5,737,000. Concurrent Investment Advisors LLC bought a new position in shares of DigitalOcean during the first quarter valued at $265,000. Finally, Trexquant Investment LP bought a new position in shares of DigitalOcean during the first quarter valued at $1,041,000. Institutional investors own 49.77% of the company’s stock.

Insider Activity

In other news, insider Bratin Saha sold 13,010 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $31.87, for a total transaction of $414,628.70. Following the sale, the insider directly owned 269,465 shares in the company, valued at $8,587,849.55. This trade represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.96% of the stock is currently owned by company insiders.

DigitalOcean Stock Performance

NYSE:DOCN opened at $40.63 on Friday. The stock has a 50-day simple moving average of $36.77 and a two-hundred day simple moving average of $31.92. The firm has a market capitalization of $3.70 billion, a PE ratio of 31.25, a P/E/G ratio of 2.16 and a beta of 1.76. DigitalOcean Holdings, Inc. has a 52-week low of $25.45 and a 52-week high of $47.02.

DigitalOcean (NYSE:DOCN) last posted 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 firm 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 business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous 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. Equities analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their target price on DigitalOcean from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Canaccord Genuity Group lifted their price target on shares of DigitalOcean from $49.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. UBS Group initiated coverage on shares of DigitalOcean in a research report on Tuesday, October 7th. They set a “neutral” rating and a $40.00 price objective on the stock. Barclays lifted their target price on shares of DigitalOcean from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised DigitalOcean from a “hold” rating to a “buy” rating in a report on Saturday. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, DigitalOcean has a consensus rating of “Hold” and a consensus price target of $42.73.

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).