DigitalOcean Holdings, Inc. $DOCN Position Reduced by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,106,296 shares of the company's stock after selling 328,259 shares during the quarter. Vanguard Group Inc. owned about 8.89% of DigitalOcean worth $270,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of DigitalOcean by 336.1% in the 1st quarter. GAMMA Investing LLC now owns 1,064 shares of the company's stock worth $36,000 after buying an additional 820 shares during the period. Farther Finance Advisors LLC raised its position 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 period. Canada Pension Plan Investment Board purchased a new position in shares of DigitalOcean in the 4th quarter worth $133,000. Cerity Partners LLC purchased a new position in shares of DigitalOcean in the 1st quarter worth $223,000. Finally, Mariner LLC raised its position 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 period. 49.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DigitalOcean

In other news, insider Bratin Saha sold 3,461 shares of DigitalOcean stock in a transaction that occurred 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. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays increased their price target on DigitalOcean from $38.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. UBS Group lowered their price target on DigitalOcean from $44.00 to $32.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group lowered their price target on DigitalOcean from $46.00 to $41.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Stifel Nicolaus set a $36.00 price target on DigitalOcean in a report on Tuesday, August 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of DigitalOcean in a report on Tuesday, May 6th. Six 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $41.45.

DigitalOcean Stock Up 4.1%

DOCN stock traded up $1.2440 during midday trading on Friday, reaching $31.2340. The company had a trading volume of 343,581 shares, compared to its average volume of 1,723,985. The stock has a 50 day moving average price of $29.27 and a 200 day moving average price of $32.31. DigitalOcean Holdings, Inc. has a fifty-two week low of $25.45 and a fifty-two week high of $47.02. The firm has a market capitalization of $2.84 billion, a PE ratio of 24.06, a P/E/G ratio of 1.76 and a beta of 1.75.

DigitalOcean (NYSE:DOCN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.12. DigitalOcean had a negative return on equity of 73.19% and a net margin of 15.18%.The company had revenue of $218.70 million during the quarter, compared to the consensus estimate of $216.62 million. During the same period in the previous year, the firm posted $0.48 earnings per share. DigitalOcean's quarterly revenue was up 13.6% compared to the same quarter last year. DigitalOcean has set its FY 2025 guidance at 2.050-2.100 EPS. Q3 2025 guidance at 0.450-0.500 EPS. Research analysts predict that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current 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).