8,557 Shares in DigitalOcean Holdings, Inc. $DOCN Bought by Prostatis Group LLC

Prostatis Group LLC bought a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,557 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds also recently bought and sold shares of DOCN. CX Institutional boosted its holdings in DigitalOcean by 780.5% in the 2nd quarter. CX Institutional now owns 1,039 shares of the company’s stock worth $30,000 after buying an additional 921 shares during the period. GAMMA Investing LLC boosted its holdings in 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 boosted its holdings in 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. SVB Wealth LLC bought a new position in DigitalOcean in the 1st quarter worth $48,000. Finally, Advisors Asset Management Inc. boosted its holdings in DigitalOcean by 39.6% in the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock worth $74,000 after buying an additional 632 shares during the period. Institutional investors own 49.77% of the company’s stock.

DigitalOcean Trading Down 5.6%

Shares of NYSE:DOCN opened at $37.33 on Monday. DigitalOcean Holdings, Inc. has a 12 month low of $25.45 and a 12 month high of $47.02. The company has a 50-day moving average price of $34.12 and a 200 day moving average price of $30.85. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 2.12 and a beta of 1.76.

DigitalOcean (NYSE:DOCN) last announced its quarterly 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 net margin of 15.18% and a negative return on equity of 73.19%. The firm had revenue of $218.70 million during the quarter, compared to the consensus estimate of $216.62 million. During the same quarter last year, the firm earned $0.48 EPS. The firm’s revenue for the quarter 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, equities analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

Insider Activity at DigitalOcean

In related news, insider Bratin Saha sold 13,010 shares of the 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 sale, the insider directly owned 269,465 shares of the company’s stock, valued at $8,587,849.55. This represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

DOCN has been the subject of several research reports. UBS Group initiated coverage on shares of DigitalOcean in a report on Tuesday, October 7th. They set a “neutral” rating and a $40.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of DigitalOcean in a report on Wednesday, October 8th. Stifel Nicolaus set a $36.00 price objective on shares of DigitalOcean in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of DigitalOcean from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Canaccord Genuity Group increased their price objective on shares of DigitalOcean from $49.00 to $55.00 and gave the company a “buy” rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.73.

About DigitalOcean

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).