Public Sector Pension Investment Board Purchases 43,539 Shares of DigitalOcean Holdings, Inc. $DOCN

Key Points

• The Public Sector Pension Investment Board increased its stake in DigitalOcean Holdings, Inc. by 27.5%, owning approximately 0.22% of the company, valued at $6.74 million.
• DigitalOcean's recent earnings report showed an EPS of $0.59, exceeding the consensus estimate of $0.47, with a revenue growth of 13.6% year-over-year.
• Analysts currently have a consensus rating of "Hold" on DigitalOcean's stock, with price targets varying between $41.00 and $49.00.

Public Sector Pension Investment Board raised its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 27.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 201,955 shares of the company's stock after purchasing an additional 43,539 shares during the period. Public Sector Pension Investment Board owned approximately 0.22% of DigitalOcean worth $6,743,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in DigitalOcean by 336.1% during the 1st quarter. GAMMA Investing LLC now owns 1,064 shares of the company's stock valued at $36,000 after purchasing an additional 820 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of DigitalOcean by 135,100.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,352 shares of the company's stock worth $46,000 after buying an additional 1,351 shares during the last quarter. Covestor Ltd boosted its stake in shares of DigitalOcean by 35.8% in the 1st quarter. Covestor Ltd now owns 3,182 shares of the company's stock worth $106,000 after buying an additional 838 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of DigitalOcean in the 4th quarter worth approximately $133,000. Finally, Mariner LLC boosted its stake in shares of DigitalOcean by 14.4% in the 4th quarter. Mariner LLC now owns 6,685 shares of the company's stock worth $228,000 after buying an additional 839 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DOCN. Stifel Nicolaus set a $36.00 target price on DigitalOcean in a research note on Tuesday, August 5th. UBS Group cut their target price on DigitalOcean from $44.00 to $32.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Canaccord Genuity Group boosted their target price on DigitalOcean from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Barclays boosted their target price on DigitalOcean from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DigitalOcean in a research note on Tuesday, May 6th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.45.

Insider Buying and Selling at DigitalOcean

In other news, insider Bratin Saha sold 3,461 shares of the company's stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.74% of the company's stock.

DigitalOcean Stock Performance

DOCN stock traded down $0.8520 during midday trading on Tuesday, reaching $30.8480. 1,377,785 shares of the company's stock traded hands, compared to its average volume of 1,738,678. The company has a 50-day moving average price of $29.19 and a two-hundred day moving average price of $32.41. DigitalOcean Holdings, Inc. has a 52 week low of $25.45 and a 52 week high of $47.02. The firm has a market capitalization of $2.81 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.81 and a beta of 1.75.

DigitalOcean (NYSE:DOCN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.12. The firm had revenue of $218.70 million for 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 business's quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. 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, analysts predict that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

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).