10,473 Shares in DigitalOcean Holdings, Inc. (NYSE:DOCN) Acquired by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL bought a new position in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,473 shares of the company’s stock, valued at approximately $429,000.

A number of other large investors have also recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in shares of DigitalOcean by 10.0% in the first quarter. Empowered Funds LLC now owns 7,852 shares of the company’s stock valued at $300,000 after acquiring an additional 711 shares during the period. ProShare Advisors LLC lifted its holdings in DigitalOcean by 8.4% in the first quarter. ProShare Advisors LLC now owns 12,743 shares of the company’s stock valued at $487,000 after acquiring an additional 986 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of DigitalOcean by 20.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,896 shares of the company’s stock valued at $858,000 after buying an additional 3,790 shares in the last quarter. Vanguard Group Inc. increased its position in shares of DigitalOcean by 11.5% in the first quarter. Vanguard Group Inc. now owns 6,728,563 shares of the company’s stock valued at $256,897,000 after buying an additional 696,426 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of DigitalOcean by 571.4% in the first quarter. Covestor Ltd now owns 1,947 shares of the company’s stock valued at $74,000 after buying an additional 1,657 shares in the last quarter. 49.77% of the stock is currently owned by hedge funds and other institutional investors.

DigitalOcean Trading Down 3.9 %

NYSE:DOCN opened at $36.85 on Monday. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 43.35, a PEG ratio of 2.37 and a beta of 1.83. DigitalOcean Holdings, Inc. has a 1-year low of $26.10 and a 1-year high of $44.80. The business’s fifty day moving average price is $40.67 and its 200 day moving average price is $36.97.

DigitalOcean (NYSE:DOCN) last released its quarterly earnings results on Monday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.12. The company had revenue of $198.50 million during the quarter, compared to the consensus estimate of $196.64 million. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS. Equities analysts forecast that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on DOCN shares. Barclays lifted their price objective on DigitalOcean from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Stifel Nicolaus lifted their price objective on DigitalOcean from $32.00 to $35.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Canaccord Genuity Group lifted their price objective on DigitalOcean from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Needham & Company LLC reissued a “hold” rating on shares of DigitalOcean in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price target on DigitalOcean from $32.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, DigitalOcean presently has an average rating of “Hold” and an average target price of $41.50.

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).