Nuveen LLC Takes Position in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Nuveen LLC acquired 171,828 shares of DigitalOcean Holdings, Inc. for about $5.7 million, representing a 0.19% ownership stake in the company.
• DigitalOcean reported $0.59 EPS for the last quarter, exceeding the estimated $0.47 EPS, with revenues of $218.70 million, a 13.6% year-over-year increase.
• Analyst consensus rating for DigitalOcean is currently a "Hold" with a target price of $41.45, reflecting recent adjustments from various analysts.

Nuveen LLC purchased a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 171,828 shares of the company's stock, valued at approximately $5,737,000. Nuveen LLC owned about 0.19% of DigitalOcean as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DOCN. GAMMA Investing LLC raised its stake 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 during the last quarter. Farther Finance Advisors LLC raised its stake 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 during the last quarter. Covestor Ltd raised its stake in DigitalOcean by 35.8% in the 1st quarter. Covestor Ltd now owns 3,182 shares of the company's stock valued at $106,000 after purchasing an additional 838 shares during the last quarter. Cerity Partners LLC acquired a new position in DigitalOcean in the 1st quarter valued at about $223,000. Finally, Mariner LLC raised its stake in DigitalOcean by 14.4% in the 4th quarter. Mariner LLC now owns 6,685 shares of the company's stock valued at $228,000 after purchasing an additional 839 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company's stock.

Insiders Place Their Bets

In other DigitalOcean news, insider Bratin Saha sold 3,461 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $27.77, for a total value of $96,111.97. Following the sale, the insider directly owned 294,546 shares of the company's stock, valued at $8,179,542.42. This trade represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.96% of the stock is owned by corporate insiders.

DigitalOcean Price Performance

Shares of DOCN stock traded up $0.95 on Thursday, hitting $33.31. 3,452,841 shares of the stock traded hands, compared to its average volume of 3,865,266. The company has a market capitalization of $3.03 billion, a PE ratio of 25.62, a PEG ratio of 1.84 and a beta of 1.75. DigitalOcean Holdings, Inc. has a 1-year low of $25.45 and a 1-year high of $47.02. The company's fifty day moving average is $29.69 and its 200 day moving average is $31.90.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $216.62 million. DigitalOcean had a negative return on equity of 73.19% and a net margin of 15.18%.The business's revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company 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. As a group, equities research analysts expect that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on DOCN. Citigroup lowered their price target on DigitalOcean from $50.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Stifel Nicolaus set a $36.00 target price on DigitalOcean in a report on Tuesday, August 5th. Morgan Stanley boosted their target price on DigitalOcean from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded DigitalOcean from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Finally, The Goldman Sachs Group decreased their target price on DigitalOcean from $46.00 to $41.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DigitalOcean presently has an average rating of "Hold" and an average target price of $41.45.

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).