Nordea Investment Management AB Grows Stake in DigitalOcean Holdings, Inc. $DOCN

Nordea Investment Management AB lifted its stake in DigitalOcean Holdings, Inc. (NYSE:DOCNFree Report) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,459 shares of the company’s stock after buying an additional 1,698 shares during the period. Nordea Investment Management AB owned approximately 0.30% of DigitalOcean worth $7,627,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DOCN. Allspring Global Investments Holdings LLC boosted its holdings in DigitalOcean by 25.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 215,483 shares of the company’s stock worth $6,038,000 after acquiring an additional 43,732 shares during the period. Prostatis Group LLC acquired a new position in shares of DigitalOcean during the second quarter worth $244,000. CWM LLC lifted its position in shares of DigitalOcean by 2.6% during the second quarter. CWM LLC now owns 18,272 shares of the company’s stock worth $522,000 after purchasing an additional 470 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of DigitalOcean by 42.9% in the second quarter. Blair William & Co. IL now owns 39,285 shares of the company’s stock valued at $1,122,000 after purchasing an additional 11,792 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in DigitalOcean during the 2nd quarter valued at $356,000. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of DigitalOcean from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of DigitalOcean in a report on Wednesday, October 8th. Wall Street Zen lowered DigitalOcean from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. UBS Group initiated coverage on DigitalOcean in a research report on Tuesday, October 7th. They issued a “neutral” rating and a $40.00 target price on the stock. Finally, Morgan Stanley raised their price target on shares of DigitalOcean from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.73.

Check Out Our Latest Analysis on DigitalOcean

Insider Transactions at DigitalOcean

In other DigitalOcean news, insider Bratin Saha sold 13,010 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $31.87, for a total value of $414,628.70. Following the transaction, the insider owned 269,465 shares of the company’s stock, valued at $8,587,849.55. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.74% of the stock is owned by corporate insiders.

DigitalOcean Price Performance

Shares of DOCN opened at $41.08 on Tuesday. The stock has a market capitalization of $3.74 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. The business’s fifty day moving average price is $35.20 and its 200 day moving average price is $31.22. DigitalOcean Holdings, Inc. has a 12-month low of $25.45 and a 12-month high of $47.02.

DigitalOcean (NYSE:DOCNGet Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.12. DigitalOcean had a net margin of 15.18% and a negative return on equity of 73.19%. The company had revenue of $218.70 million for the quarter, compared to analysts’ expectations of $216.62 million. During the same period in the prior year, the company earned $0.48 earnings per share. The firm’s 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. As a group, research analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

DigitalOcean Company Profile

(Free Report)

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).

See Also

Institutional Ownership by Quarter for DigitalOcean (NYSE:DOCN)

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