41,753 Shares of DigitalOcean Holdings, Inc. $DOCN Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in DigitalOcean Holdings, Inc. (NYSE:DOCN) during the third quarter, Holdings Channel reports. The institutional investor acquired 41,753 shares of the company’s stock, valued at approximately $5,569,000.

Several other large investors have also made changes to their positions in DOCN. EverSource Wealth Advisors LLC boosted its stake in DigitalOcean by 14.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company’s stock valued at $47,000 after purchasing an additional 71 shares during the period. Sigma Planning Corp increased its position in DigitalOcean by 7.7% in the 3rd quarter. Sigma Planning Corp now owns 1,586 shares of the company’s stock worth $212,000 after buying an additional 114 shares during the period. Parallel Advisors LLC lifted its holdings in shares of DigitalOcean by 66.2% during the first quarter. Parallel Advisors LLC now owns 324 shares of the company’s stock worth $28,000 after buying an additional 129 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of DigitalOcean by 16.9% during the third quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $122,000 after buying an additional 133 shares during the last quarter. Finally, Focus Financial Network Inc. boosted its position in shares of DigitalOcean by 10.0% in the third quarter. Focus Financial Network Inc. now owns 1,589 shares of the company’s stock valued at $212,000 after acquiring an additional 145 shares during the period. Institutional investors and hedge funds own 49.77% of the company’s stock.

Insider Transactions at DigitalOcean

In related news, CAO Cherie Barrett sold 4,456 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $132.37, for a total value of $589,840.72. Following the sale, the chief accounting officer owned 65,487 shares of the company’s stock, valued at $8,668,514.19. The trade was a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matt Steinfort sold 10,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $105.73, for a total transaction of $1,057,300.00. Following the completion of the transaction, the chief financial officer directly owned 503,692 shares of the company’s stock, valued at $53,255,355.16. This trade represents a 1.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 18,441 shares of company stock valued at $2,068,475 over the last ninety days. 0.96% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DOCN has been the topic of several research analyst reports. William Blair restated an “outperform” rating on shares of DigitalOcean in a research note on Wednesday, July 15th. Zacks Research upgraded shares of DigitalOcean from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Stifel Nicolaus set a $130.00 price target on shares of DigitalOcean in a report on Tuesday. Citigroup reduced their price target on shares of DigitalOcean from $190.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday. Finally, KeyCorp restated an “overweight” rating on shares of DigitalOcean in a report on Tuesday, October 13th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $141.06.

Trending Headlines about DigitalOcean

Here are the key news stories impacting DigitalOcean this week:

• Positive Sentiment: DigitalOcean’s stock had previously jumped after the company raised guidance and cited AI revenue growth, giving investors signs of continued demand and expansion. DigitalOcean Stock Jumps On Higher Guidance And AI Revenue Growth
• Positive Sentiment: A third-quarter review highlighted accelerating revenue from software-driven cloud adoption and expansion of DigitalOcean’s platform, supporting the company’s growth narrative. DOCN Q3 deep dive
• Neutral Sentiment: Goldman Sachs lowered its price target to $156 but kept a Buy rating. The target remains well above the share price cited in the report, though the reduction signals a more cautious valuation view. Goldman Sachs ratings
• Negative Sentiment: Coverage flagged a $1 billion offering, which could raise concerns about potential share dilution or added stock supply. The accompanying analysis nevertheless describes DOCN as potentially trading below its estimated fair value. DigitalOcean Could Be 62% Below Fair Value Following Results And $1b Offering
• Negative Sentiment: Several analysts reduced targets: Canaccord to $180, Citi to $160, Barclays to $140, UBS to $100, and Stifel to $130. Canaccord, Citi, and Barclays retained positive ratings, while UBS stayed Neutral; the cuts may still temper expectations. Canaccord analyst ratings UBS price target update Stifel price target update

DigitalOcean Price Performance

Shares of DOCN stock opened at $70.58 on Friday. DigitalOcean Holdings, Inc. has a 12 month low of $41.96 and a 12 month high of $187.50. The company has a market capitalization of $7.37 billion, a P/E ratio of 227.68, a P/E/G ratio of 73.25 and a beta of 1.69. The stock has a 50 day moving average of $117.35 and a two-hundred day moving average of $111.57. The company has a current ratio of 1.15, a quick ratio of 1.31 and a debt-to-equity ratio of 0.61.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.13. The business had revenue of $321.19 million for the quarter, compared to analysts’ expectations of $306.74 million. DigitalOcean had a return on equity of 15.01% and a net margin of 3.11%. DigitalOcean’s quarterly revenue was up 39.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. As a group, equities analysts expect that DigitalOcean Holdings, Inc. will post 0.62 EPS for the current year.

About DigitalOcean

DigitalOcean Holdings, Inc is a cloud computing company that provides infrastructure and developer-focused services for startups, small and medium-sized businesses, and individual developers. Its platform is designed to simplify the deployment, management, and scaling of applications without requiring customers to build and operate extensive in-house infrastructure.

The company’s offerings include Droplets, its virtual machine service; managed Kubernetes; managed databases; object and block storage; networking tools; and application deployment services through App Platform.