Fuller & Thaler Asset Management Inc. Acquires 441,535 Shares of DigitalOcean Holdings, Inc. $DOCN

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in DigitalOcean by 28.6%, acquiring an additional 441,535 shares, bringing its total holdings to approximately $66.35 million.
• DigitalOcean stock has shown a 2.0% increase recently, with a current market cap of $2.88 billion and earnings of $0.59 per share, surpassing analysts' expectations.
• Institutional ownership in DigitalOcean stands at 49.77%, indicating significant institutional interest amid various changes in holdings from other investors.

Fuller & Thaler Asset Management Inc. lifted its position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 28.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,987,177 shares of the company's stock after buying an additional 441,535 shares during the period. Fuller & Thaler Asset Management Inc. owned about 2.18% of DigitalOcean worth $66,352,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of DigitalOcean by 66.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 82,558 shares of the company's stock valued at $2,813,000 after acquiring an additional 32,966 shares during the last quarter. Legal & General Group Plc increased its position in shares of DigitalOcean by 2.1% in the fourth quarter. Legal & General Group Plc now owns 182,674 shares of the company's stock valued at $6,224,000 after acquiring an additional 3,783 shares during the period. Raymond James Financial Inc. bought a new position in shares of DigitalOcean during the fourth quarter valued at about $2,970,000. Summit Investment Advisors Inc. boosted its holdings in shares of DigitalOcean by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,866 shares of the company's stock worth $234,000 after purchasing an additional 436 shares during the period. Finally, Mariner LLC grew its stake in shares of DigitalOcean by 14.4% in the fourth quarter. Mariner LLC now owns 6,685 shares of the company's stock worth $228,000 after purchasing an additional 839 shares during the last quarter. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 3,461 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $27.77, for a total transaction 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. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.96% of the stock is owned by company insiders.

DigitalOcean Trading Up 5.2%

DOCN stock traded up $1.5480 during midday trading on Friday, hitting $31.5380. The company's stock had a trading volume of 1,787,689 shares, compared to its average volume of 3,724,420. The firm's 50-day moving average is $29.37 and its 200-day moving average is $32.25. DigitalOcean Holdings, Inc. has a 12 month low of $25.45 and a 12 month high of $47.02. The company has a market cap of $2.87 billion, a PE ratio of 24.26, a P/E/G ratio of 1.75 and a beta of 1.75.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.12. The business 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%.The company's quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last 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. Analysts expect that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group lifted their price objective on DigitalOcean from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of DigitalOcean in a research note on Tuesday, May 6th. Citigroup reduced their price objective on shares of DigitalOcean from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their price objective on shares of DigitalOcean from $46.00 to $41.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Morgan Stanley lifted 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 investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $41.45.

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).