Belpointe Asset Management LLC Makes New Investment in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Belpointe Asset Management LLC has made a new investment in DigitalOcean Holdings, acquiring 12,460 shares valued at approximately $356,000.
• Multiple hedge funds have significantly increased their stakes in DigitalOcean, including CX Institutional, which boosted its position by 780.5%.
• DigitalOcean reported earnings of $0.59 EPS for the last quarter, exceeding estimates and indicating a 13.6% revenue increase compared to the previous year.

Belpointe Asset Management LLC acquired a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,460 shares of the company's stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DOCN. CX Institutional boosted its position in DigitalOcean by 780.5% in the second quarter. CX Institutional now owns 1,039 shares of the company's stock worth $30,000 after purchasing an additional 921 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of DigitalOcean by 336.1% in the first quarter. GAMMA Investing LLC now owns 1,064 shares of the company's stock valued at $36,000 after buying an additional 820 shares during the period. Farther Finance Advisors LLC raised its stake in shares of DigitalOcean by 135,100.0% in the first quarter. Farther Finance Advisors LLC now owns 1,352 shares of the company's stock valued at $46,000 after buying an additional 1,351 shares during the period. SVB Wealth LLC bought a new stake in shares of DigitalOcean in the first quarter valued at $48,000. Finally, Advisors Asset Management Inc. raised its stake 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 buying an additional 632 shares during the period. Hedge funds and other institutional investors own 49.77% of the company's stock.

Insider Buying and Selling

In related news, insider Bratin Saha sold 13,010 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $31.87, for a total transaction of $414,628.70. Following the completion of the transaction, the insider directly owned 269,465 shares in the company, valued at $8,587,849.55. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is currently owned by insiders.

DigitalOcean Stock Performance

NYSE:DOCN opened at $37.33 on Friday. DigitalOcean Holdings, Inc. has a 52-week low of $25.45 and a 52-week high of $47.02. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.25 and a beta of 1.76. The business's fifty day moving average is $34.12 and its 200 day moving average is $30.93.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.12. DigitalOcean had a negative return on equity of 73.19% and a net margin of 15.18%.The company had revenue of $218.70 million for the quarter, compared to analyst estimates of $216.62 million. During the same period in the previous year, the company posted $0.48 EPS. The firm's revenue for the quarter was up 13.6% compared to the same quarter last year. DigitalOcean has set its FY 2025 guidance at 2.050-2.100 EPS. Q3 2025 guidance at 0.450-0.500 EPS. Equities analysts predict that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays boosted their target price on DigitalOcean from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered DigitalOcean from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. UBS Group assumed coverage on DigitalOcean in a research note on Tuesday. They issued a "neutral" rating and a $40.00 target price on the stock. Morgan Stanley boosted their target price on DigitalOcean from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of DigitalOcean in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $42.73.

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).

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