Allspring Global Investments Holdings LLC Boosts Position in DigitalOcean Holdings, Inc. $DOCN

Allspring Global Investments Holdings LLC lifted its stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) by 25.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 215,483 shares of the company’s stock after acquiring an additional 43,732 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DigitalOcean were worth $6,038,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. raised its holdings in shares of DigitalOcean by 28.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,987,177 shares of the company’s stock worth $66,352,000 after acquiring an additional 441,535 shares during the period. Nuveen LLC purchased a new position in shares of DigitalOcean during the 1st quarter worth $5,737,000. Concurrent Investment Advisors LLC purchased a new position in shares of DigitalOcean during the 1st quarter worth $265,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of DigitalOcean by 119.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 16,729 shares of the company’s stock worth $559,000 after purchasing an additional 9,110 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of DigitalOcean during the 1st quarter worth about $1,041,000. Hedge funds and other institutional investors own 49.77% of the company’s stock.

DigitalOcean Stock Performance

Shares of DigitalOcean stock opened at $41.46 on Monday. DigitalOcean Holdings, Inc. has a one year low of $25.45 and a one year high of $47.02. The company has a market cap of $3.77 billion, a PE ratio of 31.89, a P/E/G ratio of 2.35 and a beta of 1.76. The business has a 50-day simple moving average of $34.97 and a 200-day simple moving average of $31.14.

DigitalOcean (NYSE:DOCN) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.59 EPS for the quarter, topping 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 business 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 company posted $0.48 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. DigitalOcean has set its FY 2025 guidance at 2.050-2.100 EPS. Q3 2025 guidance at 0.450-0.500 EPS. On average, sell-side analysts predict that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Bratin Saha sold 13,010 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $31.87, for a total transaction of $414,628.70. Following the completion of the sale, the insider owned 269,465 shares in the company, valued at $8,587,849.55. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOCN. Canaccord Genuity Group raised their price objective on DigitalOcean from $49.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Morgan Stanley raised their price objective on DigitalOcean from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Barclays raised their price objective on DigitalOcean from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. UBS Group assumed coverage on DigitalOcean in a research report on Tuesday, October 7th. They set a “neutral” rating and a $40.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalOcean in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, DigitalOcean currently 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).