Jackson Creek Investment Advisors LLC Purchases New Position in DigitalOcean Holdings, Inc. (NYSE:DOCN)

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

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of DigitalOcean by 1.4% in the 4th 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 during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of DigitalOcean by 16.6% in the 4th 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 during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in DigitalOcean by 7.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,545,642 shares of the company's stock valued at $52,660,000 after buying an additional 105,235 shares during the last quarter. First Trust Advisors LP increased its stake in DigitalOcean by 6.2% in the 4th quarter. First Trust Advisors LP now owns 1,533,699 shares of the company's stock valued at $52,253,000 after buying an additional 89,349 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in DigitalOcean by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,473,421 shares of the company's stock valued at $50,211,000 after buying an additional 9,088 shares during the last quarter. Institutional investors and hedge funds own 49.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group decreased their price objective on shares of DigitalOcean from $46.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Barclays reduced their target price on shares of DigitalOcean from $48.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a research report on Tuesday, May 6th. Wall Street Zen raised shares of DigitalOcean from a "hold" rating to a "buy" rating in a research report on Sunday, June 29th. Finally, Citigroup reduced their target price on shares of DigitalOcean from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $40.36.

Insider Buying and Selling at DigitalOcean

In other news, insider Bratin Saha sold 3,461 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $27.77, for a total transaction of $96,111.97. Following the sale, the insider owned 294,546 shares in the company, valued at approximately $8,179,542.42. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.74% of the company's stock.

DigitalOcean Stock Up 0.5%

DOCN traded up $0.13 on Monday, hitting $29.65. The company's stock had a trading volume of 579,135 shares, compared to its average volume of 1,309,516. The company's 50 day simple moving average is $28.86 and its 200-day simple moving average is $33.43. The firm has a market cap of $2.70 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 2.16 and a beta of 1.76. DigitalOcean Holdings, Inc. has a 12 month low of $25.45 and a 12 month high of $47.02.

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