Credit Agricole S A Invests $1.71 Million in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Credit Agricole S A acquired a new stake in DigitalOcean Holdings, purchasing 51,243 shares valued at approximately $1,711,000, which represents about 0.06% ownership in the company.
• DigitalOcean reported earnings of $0.59 per share for the last quarter, exceeding estimates by $0.12, with a year-over-year revenue increase of 13.6%.
• Insider Bratin Saha sold 3,461 shares at an average price of $27.77, resulting in a decrease in their overall stake in DigitalOcean.

Credit Agricole S A purchased a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,243 shares of the company's stock, valued at approximately $1,711,000. Credit Agricole S A owned approximately 0.06% of DigitalOcean at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DOCN. Fuller & Thaler Asset Management Inc. grew its holdings in shares of DigitalOcean by 28.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,987,177 shares of the company's stock valued at $66,352,000 after buying an additional 441,535 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in DigitalOcean by 16.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,628,995 shares of the company's stock worth $55,500,000 after acquiring an additional 231,407 shares during the period. Nuveen LLC bought a new position in DigitalOcean in the first quarter worth approximately $5,737,000. Russell Investments Group Ltd. raised its position in DigitalOcean by 75.5% in the first quarter. Russell Investments Group Ltd. now owns 285,079 shares of the company's stock worth $9,519,000 after acquiring an additional 122,612 shares during the period. Finally, Interval Partners LP bought a new position in DigitalOcean in the fourth quarter worth approximately $3,690,000. 49.77% of the stock is owned by institutional investors.

Insider Buying and Selling at DigitalOcean

In other news, insider Bratin Saha sold 3,461 shares of the company's stock in a transaction that occurred 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. Insiders own 0.96% of the company's stock.

Analyst Ratings Changes

DOCN has been the topic of several recent research reports. 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 price target on shares of DigitalOcean in a report on Tuesday, August 5th. Canaccord Genuity Group lifted their price target on shares of DigitalOcean from $45.00 to $49.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. The Goldman Sachs Group reduced their price target on shares of DigitalOcean from $46.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DigitalOcean in a report on Tuesday, May 6th. 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 company's stock. Based on data from MarketBeat, DigitalOcean presently has an average rating of "Hold" and an average target price of $41.45.

DigitalOcean Stock Performance

DigitalOcean stock traded down $0.92 during trading hours on Friday, hitting $32.44. The company had a trading volume of 1,011,068 shares, compared to its average volume of 1,745,403. The firm has a market cap of $2.95 billion, a P/E ratio of 24.95, a P/E/G 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 has a 50-day moving average price of $29.69 and a two-hundred day moving average price of $31.90.

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 the consensus estimate of $0.47 by $0.12. The company had revenue of $218.70 million during the quarter, compared to analysts' expectations of $216.62 million. DigitalOcean had a net margin of 15.18% and a negative return on equity of 73.19%. The firm'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 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 anticipate that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current 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).