Nano Cap New Millennium Growth Fund L P Buys New Position in DigitalOcean Holdings, Inc. $DOCN

Key Points

• Nano Cap New Millennium Growth Fund disclosed a new fourth-quarter stake in DigitalOcean, buying 48,000 shares valued at about $2.31 million. The position now makes DOCN its 7th largest holding and about 2.0% of its portfolio.
• Wall Street sentiment is broadly positive, with nine analysts rating the stock a Buy and three a Hold. The consensus price target is $142.23, while several firms recently raised their targets sharply.
• DigitalOcean posted strong quarterly results, reporting EPS of $0.44 versus the expected $0.27 and revenue of $257.91 million, up 22.4% year over year. The company also raised guidance for Q2 2026 and fiscal 2026.

Nano Cap New Millennium Growth Fund L P bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 48,000 shares of the company's stock, valued at approximately $2,310,000. DigitalOcean comprises about 2.0% of Nano Cap New Millennium Growth Fund L P's holdings, making the stock its 7th biggest holding. Nano Cap New Millennium Growth Fund L P owned approximately 0.05% of DigitalOcean as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Creek Advisors LLC acquired a new stake in shares of DigitalOcean in the 4th quarter valued at approximately $7,126,000. Leonteq Securities AG acquired a new stake in shares of DigitalOcean in the 4th quarter valued at approximately $90,000. PNC Financial Services Group Inc. boosted its holdings in shares of DigitalOcean by 7.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,913 shares of the company's stock valued at $621,000 after buying an additional 906 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of DigitalOcean by 22.2% in the 4th quarter. Handelsbanken Fonder AB now owns 16,500 shares of the company's stock valued at $794,000 after buying an additional 3,000 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of DigitalOcean by 6.8% in the 4th quarter. ProShare Advisors LLC now owns 14,073 shares of the company's stock valued at $677,000 after buying an additional 899 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company's stock.

Analyst Ratings Changes

DOCN has been the subject of several recent analyst reports. Citizens Jmp increased their price objective on DigitalOcean from $83.00 to $105.00 and gave the company a "market outperform" rating in a report on Thursday, March 26th. UBS Group increased their price objective on DigitalOcean to $175.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. The Goldman Sachs Group increased their price objective on DigitalOcean from $78.00 to $179.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Canaccord Genuity Group increased their price objective on DigitalOcean from $120.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada set a $60.00 target price on DigitalOcean in a research note on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, DigitalOcean presently has an average rating of "Moderate Buy" and a consensus price target of $142.23.

Insider Activity at DigitalOcean

In related news, CAO Cherie Barrett sold 22,000 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $54.77, for a total value of $1,204,940.00. Following the completion of the sale, the chief accounting officer directly owned 62,469 shares in the company, valued at $3,421,427.13. The trade was a 26.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Hilary Schneider sold 4,338 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $156.38, for a total value of $678,376.44. Following the completion of the sale, the director owned 24,323 shares of the company's stock, valued at $3,803,630.74. This trade represents a 15.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 71,338 shares of company stock worth $6,803,816 in the last ninety days. 0.96% of the stock is owned by company insiders.

DigitalOcean Stock Performance

Shares of NYSE DOCN opened at $158.05 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.92. DigitalOcean Holdings, Inc. has a 12 month low of $25.56 and a 12 month high of $165.99. The stock has a 50 day moving average of $103.69 and a 200-day moving average of $70.50. The company has a market capitalization of $16.49 billion, a P/E ratio of 69.02 and a beta of 1.42.

DigitalOcean (NYSE:DOCN - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.27 by $0.17. DigitalOcean had a return on equity of 88.86% and a net margin of 24.97%.The company had revenue of $257.91 million during the quarter, compared to the consensus estimate of $249.76 million. During the same period in the previous year, the company posted $0.56 EPS. The firm's revenue for the quarter was up 22.4% compared to the same quarter last year. DigitalOcean has set its Q2 2026 guidance at 0.200-0.230 EPS and its FY 2026 guidance at 1.100-1.200 EPS. As a group, equities research analysts predict that DigitalOcean Holdings, Inc. will post 0.55 EPS for the current year.

DigitalOcean Company Profile

DigitalOcean Holdings, Inc is a cloud infrastructure provider that focuses on simplicity, performance and developer experience. The company offers a range of cloud services designed to help software developers, startups and small- to medium-sized businesses deploy, manage and scale applications. Its flagship offering, Droplets, provides virtual private servers that can be configured with various CPU, memory and storage options. In addition to compute instances, DigitalOcean's platform includes managed Kubernetes, scalable object and block storage, managed databases, load balancers and networking capabilities such as Virtual Private Cloud (VPC) and Floating IPs.

Founded in 2011 and headquartered in New York City, DigitalOcean was created with the goal of making cloud computing more accessible to individual developers and smaller teams.

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