DigitalOcean Holdings, Inc. $DOCN Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 21.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 596,961 shares of the company’s stock after selling 158,559 shares during the period. Bank of New York Mellon Corp owned about 0.66% of DigitalOcean worth $17,049,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Versor Investments LP acquired a new position in DigitalOcean during the second quarter valued at $568,000. Jennison Associates LLC purchased a new position in shares of DigitalOcean during the 2nd quarter valued at about $455,000. Y Intercept Hong Kong Ltd acquired a new position in shares of DigitalOcean in the 2nd quarter valued at about $478,000. AlphaQuest LLC boosted its stake in shares of DigitalOcean by 66.5% in the second quarter. AlphaQuest LLC now owns 15,386 shares of the company’s stock worth $439,000 after buying an additional 6,145 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of DigitalOcean by 12.9% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,884 shares of the company’s stock worth $539,000 after buying an additional 2,155 shares during the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

DigitalOcean Stock Performance

NYSE:DOCN opened at $45.80 on Monday. The stock has a market capitalization of $4.19 billion, a PE ratio of 18.47, a P/E/G ratio of 5.76 and a beta of 1.78. DigitalOcean Holdings, Inc. has a fifty-two week low of $25.45 and a fifty-two week high of $52.20. The company has a fifty day moving average of $39.61 and a two-hundred day moving average of $33.20.

DigitalOcean (NYSE:DOCN) last released its earnings results on Wednesday, November 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.23. DigitalOcean had a net margin of 29.15% and a negative return on equity of 92.51%. The business had revenue of $229.63 million during the quarter, compared to analysts’ expectations of $226.55 million. During the same quarter in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. DigitalOcean has set its Q4 2025 guidance at 0.350-0.400 EPS. FY 2025 guidance at 2.000-2.050 EPS. Research analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

Insider Activity at DigitalOcean

In other news, insider Bratin Saha sold 13,010 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $31.87, for a total value of $414,628.70. Following the transaction, the insider owned 269,465 shares in the company, valued at $8,587,849.55. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.74% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DOCN shares. Oppenheimer initiated coverage on DigitalOcean in a research report on Monday, November 10th. They set an “outperform” rating and a $60.00 price target for the company. UBS Group lifted their target price on shares of DigitalOcean from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of DigitalOcean in a research note on Wednesday, October 8th. Canaccord Genuity Group raised their price target on shares of DigitalOcean from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Stifel Nicolaus set a $36.00 price objective on shares of DigitalOcean in a report on Tuesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, DigitalOcean has a consensus rating of “Moderate Buy” and an average target price of $48.75.

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).