DigitalOcean Holdings, Inc. $DOCN Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in DigitalOcean by 25.5%, owning 215,483 shares worth approximately $6,038,000 as of the latest reporting period.
• DigitalOcean reported earnings of $0.59 per share, exceeding analysts' expectations of $0.47, with revenues reaching $218.70 million for the quarter.
• DigitalOcean's stock has seen varied ratings from analysts, with six analysts rating it as a buy, while the stock currently holds an average target price of $42.73.

Allspring Global Investments Holdings LLC increased its holdings in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 25.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 215,483 shares of the company's stock after buying an additional 43,732 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.24% of DigitalOcean worth $6,038,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of DOCN. Fuller & Thaler Asset Management Inc. grew its stake in shares of DigitalOcean by 28.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,987,177 shares of the company's stock worth $66,352,000 after purchasing an additional 441,535 shares during the period. Nuveen LLC acquired a new stake in shares of DigitalOcean during the 1st quarter worth approximately $5,737,000. Concurrent Investment Advisors LLC acquired a new stake in shares of DigitalOcean during the 1st quarter worth approximately $265,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of DigitalOcean by 119.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,729 shares of the company's stock worth $559,000 after purchasing an additional 9,110 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of DigitalOcean during the 1st quarter worth approximately $1,041,000. Institutional investors and hedge funds own 49.77% of the company's stock.

DigitalOcean Stock Performance

Shares of DOCN stock opened at $41.46 on Monday. The stock's fifty day moving average is $34.97 and its two-hundred day moving average is $31.14. The firm has a market capitalization of $3.77 billion, a P/E ratio of 31.89, a PEG ratio of 2.35 and a beta of 1.76. DigitalOcean Holdings, Inc. has a fifty-two week low of $25.45 and a fifty-two 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 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 negative return on equity of 73.19% and a net margin of 15.18%.The firm's revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm 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. On average, equities analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DOCN shares. Wall Street Zen cut shares of DigitalOcean from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Canaccord Genuity Group raised their price objective on shares of DigitalOcean from $49.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. Morgan Stanley lifted their price target 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. UBS Group assumed coverage on shares of DigitalOcean in a research note on Tuesday, October 7th. They issued a "neutral" rating and a $40.00 price target on the stock. Finally, Barclays lifted their price target on shares of DigitalOcean from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $42.73.

Insiders Place Their Bets

In other DigitalOcean news, insider Bratin Saha sold 13,010 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $31.87, for a total value of $414,628.70. Following the transaction, the insider owned 269,465 shares in the company, valued at approximately $8,587,849.55. This trade represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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).

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