BI Asset Management Fondsmaeglerselskab A S Has $93,000 Position in DigitalOcean Holdings, Inc. $DOCN

Key Points

• BI Asset Management Fondsmaeglerselskab A S sold 55,719 shares of DigitalOcean Holdings, reducing its holdings by 95.2%, now owning 2,782 shares worth approximately $93,000.
• DigitalOcean reported a net margin of 15.18% and a revenue of $218.70 million, surpassing analysts' expectations and showing a year-over-year revenue increase of 13.6%.
• Institutional investors own 49.77% of DigitalOcean's stock, with various firms adjusting their positions, highlighting ongoing interest from the investment community.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 95.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,782 shares of the company's stock after selling 55,719 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in DigitalOcean were worth $93,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of DigitalOcean by 336.1% during the first quarter. GAMMA Investing LLC now owns 1,064 shares of the company's stock worth $36,000 after buying an additional 820 shares during the period. Farther Finance Advisors LLC increased its stake in shares of DigitalOcean by 135,100.0% during the first quarter. Farther Finance Advisors LLC now owns 1,352 shares of the company's stock worth $46,000 after buying an additional 1,351 shares during the period. Covestor Ltd increased its stake in shares of DigitalOcean by 35.8% during the first quarter. Covestor Ltd now owns 3,182 shares of the company's stock worth $106,000 after buying an additional 838 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of DigitalOcean during the fourth quarter worth approximately $133,000. Finally, Cerity Partners LLC purchased a new stake in shares of DigitalOcean during the first quarter worth approximately $223,000. Hedge funds and other institutional investors own 49.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DOCN shares. The Goldman Sachs Group cut their target price on shares of DigitalOcean from $46.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Canaccord Genuity Group increased their price target on DigitalOcean from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of DigitalOcean from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Stifel Nicolaus set a $36.00 target price on DigitalOcean in a research report on Tuesday, August 5th. Finally, Morgan Stanley boosted their target price on shares of DigitalOcean from $41.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $41.45.

DigitalOcean Stock Performance

Shares of DOCN stock traded down $0.92 on Friday, hitting $32.44. The stock had a trading volume of 1,011,068 shares, compared to its average volume of 1,745,403. The stock's 50 day moving average is $29.69 and its 200-day moving average is $31.90. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 1.84 and a beta of 1.75. DigitalOcean Holdings, Inc. has a 52-week low of $25.45 and a 52-week high of $47.02.

DigitalOcean (NYSE:DOCN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.12. The firm had revenue of $218.70 million during 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%.DigitalOcean's quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. DigitalOcean has set its FY 2025 guidance at 2.050-2.100 EPS. Q3 2025 guidance at 0.450-0.500 EPS. Equities analysts expect 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 3,461 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $27.77, for a total transaction of $96,111.97. Following the sale, the insider directly owned 294,546 shares in the company, valued at approximately $8,179,542.42. This represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.96% of the company's stock.

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).