Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 60,886 DigitalOcean Holdings, Inc. $DOCN

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired a new stake in DigitalOcean Holdings, Inc. by purchasing 60,886 shares valued at approximately $2,033,000.
• Insider Bratin Saha sold 3,461 shares of DigitalOcean's stock at an average price of $27.77, reducing their position by 1.16%.
• DigitalOcean's stock has seen fluctuations, currently trading at $30.52, with a 12-month low of $25.45 and a high of $47.02.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 60,886 shares of the company's stock, valued at approximately $2,033,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of DigitalOcean as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Focus Partners Wealth boosted its position in shares of DigitalOcean by 2.8% during the fourth quarter. Focus Partners Wealth now owns 12,455 shares of the company's stock worth $424,000 after buying an additional 338 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of DigitalOcean by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,866 shares of the company's stock valued at $234,000 after acquiring an additional 436 shares during the last quarter. BSW Wealth Partners lifted its position in shares of DigitalOcean by 4.8% during the 1st quarter. BSW Wealth Partners now owns 15,256 shares of the company's stock valued at $509,000 after acquiring an additional 700 shares during the last quarter. CWM LLC raised its stake in DigitalOcean by 4.7% during the 1st quarter. CWM LLC now owns 17,802 shares of the company's stock valued at $594,000 after purchasing an additional 799 shares during the period. Finally, GAMMA Investing LLC raised its stake in DigitalOcean by 336.1% during 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 period. 49.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DOCN has been the topic of a number of research reports. Canaccord Genuity Group upped their price target on shares of DigitalOcean from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. UBS Group dropped their price objective on shares of DigitalOcean from $44.00 to $32.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Citigroup lowered their price target on shares of 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 price target on shares of DigitalOcean in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of DigitalOcean from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $41.45.

DigitalOcean Stock Performance

Shares of DigitalOcean stock traded down $0.7530 during trading hours on Tuesday, reaching $30.9470. The company's stock had a trading volume of 389,070 shares, compared to its average volume of 1,731,711. DigitalOcean Holdings, Inc. has a one year low of $25.45 and a one year high of $47.02. The company has a market capitalization of $2.82 billion, a P/E ratio of 23.80, a P/E/G ratio of 1.81 and a beta of 1.75. The stock's fifty day simple moving average is $29.19 and its two-hundred day simple moving average is $32.41.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.12. The company had revenue of $218.70 million for the quarter, compared to analyst estimates of $216.62 million. DigitalOcean had a net margin of 15.18% and a negative return on equity of 73.19%. The firm's revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm 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. As a group, research analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

Insider Activity

In other news, insider Bratin Saha sold 3,461 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $27.77, for a total value of $96,111.97. Following the completion of the sale, the insider owned 294,546 shares of the company's stock, 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 is accessible through this link. Company insiders own 0.74% of the company's stock.

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).