35,758 Shares in DigitalOcean Holdings, Inc. (NYSE:DOCN) Acquired by Jackson Creek Investment Advisors LLC

Jackson Creek Investment Advisors LLC acquired a new stake in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 35,758 shares of the company's stock, valued at approximately $1,194,000.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in DigitalOcean in the fourth quarter worth about $14,772,000. Jacobs Levy Equity Management Inc. grew its position in DigitalOcean by 16.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,628,995 shares of the company's stock worth $55,500,000 after acquiring an additional 231,407 shares in the last quarter. CenterBook Partners LP purchased a new position in DigitalOcean in the fourth quarter worth about $7,633,000. Sei Investments Co. grew its position in DigitalOcean by 274.5% in the fourth quarter. Sei Investments Co. now owns 176,813 shares of the company's stock worth $6,024,000 after acquiring an additional 129,595 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in DigitalOcean by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 8,434,555 shares of the company's stock worth $287,365,000 after acquiring an additional 117,133 shares in the last quarter. Hedge funds and other institutional investors own 49.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DOCN shares. Wall Street Zen upgraded DigitalOcean from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Citigroup dropped their price target on DigitalOcean from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their price objective on shares of DigitalOcean from $40.00 to $33.00 and set a "hold" rating for the company in a research note on Monday, April 7th. Finally, Morgan Stanley decreased their price objective on shares of DigitalOcean from $52.00 to $41.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, DigitalOcean currently has a consensus rating of "Hold" and an average price target of $40.36.

Insider Buying and Selling at DigitalOcean

In related news, insider Bratin Saha sold 3,461 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $27.77, for a total value of $96,111.97. Following the completion of the transaction, the insider owned 294,546 shares of the company's stock, valued at $8,179,542.42. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.96% of the company's stock.

DigitalOcean Trading Up 1.2%

Shares of DigitalOcean stock traded up $0.34 on Friday, hitting $29.48. 1,444,151 shares of the company traded hands, compared to its average volume of 1,310,188. The stock's 50 day moving average price is $28.86 and its 200-day moving average price is $33.44. DigitalOcean Holdings, Inc. has a 52 week low of $25.45 and a 52 week high of $47.02. The company has a market cap of $2.68 billion, a PE ratio of 26.56, a PEG ratio of 2.14 and a beta of 1.76.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. DigitalOcean had a net margin of 13.46% and a negative return on equity of 60.69%. The firm had revenue of $210.70 million during the quarter, compared to the consensus estimate of $208.63 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. As a group, research analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 EPS for the current fiscal year.

DigitalOcean Company 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).