792,480 Shares in DigitalOcean Holdings, Inc. $DOCN Purchased by Norges Bank

Norges Bank acquired a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 792,480 shares of the company’s stock, valued at approximately $22,633,000. Norges Bank owned about 0.87% of DigitalOcean as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. lifted its holdings in DigitalOcean by 18.0% during the second quarter. Advisors Asset Management Inc. now owns 2,630 shares of the company’s stock worth $75,000 after acquiring an additional 401 shares during the period. CWM LLC raised its stake in shares of DigitalOcean by 2.6% during the 2nd quarter. CWM LLC now owns 18,272 shares of the company’s stock worth $522,000 after purchasing an additional 470 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of DigitalOcean by 42.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,924 shares of the company’s stock worth $55,000 after buying an additional 572 shares during the last quarter. PNC Financial Services Group Inc. grew its position in DigitalOcean by 6.5% during the second quarter. PNC Financial Services Group Inc. now owns 10,242 shares of the company’s stock valued at $293,000 after buying an additional 628 shares during the period. Finally, Covestor Ltd increased its holdings in DigitalOcean by 35.8% during the first quarter. Covestor Ltd now owns 3,182 shares of the company’s stock worth $106,000 after buying an additional 838 shares during the last quarter. 49.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on DOCN shares. Barclays boosted their target price on shares of DigitalOcean from $40.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Canaccord Genuity Group lifted their price target on shares of DigitalOcean from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of DigitalOcean in a report on Monday, December 1st. Wall Street Zen downgraded DigitalOcean from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Bank of America upgraded DigitalOcean from an “underperform” rating to a “buy” rating and boosted their target price for the company from $34.00 to $60.00 in a research note on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.75.

DigitalOcean Trading Up 2.6%

Shares of DOCN stock opened at $49.53 on Tuesday. The firm’s 50 day moving average is $42.60 and its 200 day moving average is $34.86. The stock has a market capitalization of $4.53 billion, a P/E ratio of 19.97, a PEG ratio of 6.07 and a beta of 1.77. DigitalOcean Holdings, Inc. has a 12 month low of $25.45 and a 12 month high of $52.20.

DigitalOcean (NYSE:DOCN) last issued its earnings results on Wednesday, November 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.23. The business had revenue of $229.63 million for the quarter, compared to analysts’ expectations of $226.55 million. DigitalOcean had a net margin of 29.15% and a negative return on equity of 92.51%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. DigitalOcean has set its Q4 2025 guidance at 0.350-0.400 EPS and its FY 2025 guidance at 2.000-2.050 EPS. On average, equities analysts predict that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current year.

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).