Bullseye Asset Management LLC Acquires New Holdings in DigitalOcean Holdings, Inc. $DOCN

Bullseye Asset Management LLC bought a new stake in DigitalOcean Holdings, Inc. (NYSE:DOCN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,000 shares of the company’s stock, valued at approximately $771,000.

Other large investors also recently added to or reduced their stakes in the company. CX Institutional raised its holdings in shares of DigitalOcean by 780.5% during the 2nd quarter. CX Institutional now owns 1,039 shares of the company’s stock valued at $30,000 after purchasing an additional 921 shares in the last quarter. SVB Wealth LLC bought a new stake in DigitalOcean in the first quarter worth $48,000. Farther Finance Advisors LLC increased its position in DigitalOcean by 42.3% during the second 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. Advisors Asset Management Inc. raised its holdings in DigitalOcean by 39.6% during the first quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock valued at $74,000 after buying an additional 632 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of DigitalOcean by 35.8% in 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.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stifel Nicolaus set a $36.00 price target on DigitalOcean in a research note on Tuesday, August 5th. Cantor Fitzgerald set a $47.00 target price on DigitalOcean and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Bank of America raised shares of DigitalOcean from an “underperform” rating to a “buy” rating and lifted their price target for the company from $34.00 to $60.00 in a research report on Thursday, November 6th. Oppenheimer initiated coverage on shares of DigitalOcean in a report on Monday, November 10th. They set an “outperform” rating and a $60.00 price objective for the company. Finally, Barclays lifted their target price on shares of DigitalOcean from $40.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.75.

DigitalOcean Price Performance

NYSE:DOCN opened at $45.08 on Tuesday. DigitalOcean Holdings, Inc. has a one year low of $25.45 and a one year high of $52.20. The company has a fifty day moving average price of $40.69 and a 200 day moving average price of $33.77. The stock has a market cap of $4.12 billion, a P/E ratio of 18.18, a PEG ratio of 5.51 and a beta of 1.78.

DigitalOcean (NYSE:DOCN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.23. DigitalOcean had a net margin of 29.15% and a negative return on equity of 92.51%. The company had revenue of $229.63 million for the quarter, compared to the consensus estimate of $226.55 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. DigitalOcean has set its Q4 2025 guidance at 0.350-0.400 EPS. FY 2025 guidance at 2.000-2.050 EPS. As a group, equities research analysts anticipate 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 firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $31.87, for a total value of $414,628.70. Following the completion of the transaction, the insider directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.96% of the company’s stock.

DigitalOcean Profile

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).