Fox Run Management L.L.C. Buys Shares of 68,905 DigitalOcean Holdings, Inc. $DOCN

Key Points

• Fox Run Management L.L.C. has acquired a new stake in DigitalOcean Holdings, purchasing 68,905 shares valued at approximately $2.3 million, making it the firm's 19th largest investment.
• DigitalOcean reported earnings of $0.59 per share for the last quarter, exceeding analysts' expectations, with revenue of $218.7 million, reflecting a 13.6% year-over-year growth.
• Analysts have mixed opinions on DigitalOcean stock, with targets ranging from $32.00 to $49.00 and a consensus rating of "Hold" with a price target of approximately $41.45.

Fox Run Management L.L.C. purchased a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 68,905 shares of the company's stock, valued at approximately $2,301,000. DigitalOcean comprises approximately 0.4% of Fox Run Management L.L.C.'s holdings, making the stock its 19th largest position. Fox Run Management L.L.C. owned approximately 0.08% of DigitalOcean as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Kovitz Investment Group Partners LLC bought a new stake in shares of DigitalOcean in the 1st quarter valued at approximately $446,000. Russell Investments Group Ltd. lifted its stake in shares of DigitalOcean by 75.5% in the 1st quarter. Russell Investments Group Ltd. now owns 285,079 shares of the company's stock valued at $9,519,000 after purchasing an additional 122,612 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of DigitalOcean by 27.5% in the 1st quarter. Public Sector Pension Investment Board now owns 201,955 shares of the company's stock valued at $6,743,000 after purchasing an additional 43,539 shares during the last quarter. Nuveen LLC bought a new stake in shares of DigitalOcean in the 1st quarter valued at approximately $5,737,000. Finally, Entropy Technologies LP bought a new stake in shares of DigitalOcean in the 1st quarter valued at approximately $551,000. 49.77% of the stock is owned by institutional investors.

DigitalOcean Stock Performance

DOCN traded down $0.9660 during trading on Tuesday, hitting $30.7340. 705,927 shares of the stock were exchanged, compared to its average volume of 1,733,864. The firm has a 50 day simple moving average of $29.19 and a 200 day simple moving average of $32.41. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 1.81 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.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.47 by $0.12. The company had revenue of $218.70 million for the quarter, compared to the consensus estimate 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 last year, the business 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. As a group, equities analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DOCN shares. Wall Street Zen raised DigitalOcean from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Citigroup reduced their price target on DigitalOcean from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley increased their price target on DigitalOcean from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Stifel Nicolaus set a $36.00 price target on DigitalOcean in a report on Tuesday, August 5th. Finally, Barclays increased their price target on DigitalOcean from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.45.

Insider Transactions at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,461 shares of the stock in a transaction 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 owned 294,546 shares of the company's stock, valued at approximately $8,179,542.42. This trade represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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).