Bank of Montreal Can Sells 3,980 Shares of DigitalOcean Holdings, Inc. $DOCN

Bank of Montreal Can cut its stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) by 22.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,726 shares of the company’s stock after selling 3,980 shares during the quarter. Bank of Montreal Can’s holdings in DigitalOcean were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. CWM LLC raised its position in DigitalOcean by 2.6% in the 2nd quarter. CWM LLC now owns 18,272 shares of the company’s stock valued at $522,000 after buying an additional 470 shares during the last quarter. Farther Finance Advisors LLC grew 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 worth $55,000 after acquiring an additional 572 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of DigitalOcean by 39.6% in the first 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 during the last quarter. Covestor Ltd lifted its position in shares of DigitalOcean by 35.8% during the first quarter. Covestor Ltd now owns 3,182 shares of the company’s stock valued at $106,000 after purchasing an additional 838 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in DigitalOcean by 7.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,331 shares of the company’s stock worth $352,000 after purchasing an additional 891 shares during the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of DigitalOcean from $40.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Morgan Stanley increased their price target on DigitalOcean from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Wall Street Zen lowered DigitalOcean from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Stifel Nicolaus set a $36.00 price objective on DigitalOcean in a research note on Tuesday, August 5th. Finally, Canaccord Genuity Group lifted their target price on DigitalOcean from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.75.

Insider Buying and Selling

In other DigitalOcean 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 value of $414,628.70. Following the completion of the transaction, the insider directly owned 269,465 shares of the company’s stock, 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 link. 0.74% of the stock is currently owned by insiders.

DigitalOcean Stock Performance

Shares of DOCN opened at $44.06 on Wednesday. DigitalOcean Holdings, Inc. has a 52-week low of $25.45 and a 52-week high of $52.20. The stock’s 50-day simple moving average is $40.03 and its 200 day simple moving average is $33.37. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 5.60 and a beta of 1.78.

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

DigitalOcean 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).