Chesapeake Capital Corp IL Makes New $429,000 Investment in DigitalOcean Holdings, Inc. (NYSE:DOCN)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC bought a new position in shares of DigitalOcean during the 3rd quarter valued at $30,000. Blue Trust Inc. grew its holdings in DigitalOcean by 380.6% in the 3rd quarter. Blue Trust Inc. now owns 1,211 shares of the company’s stock worth $49,000 after acquiring an additional 959 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of DigitalOcean by 56.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the company’s stock worth $54,000 after purchasing an additional 483 shares during the period. Covestor Ltd lifted its position in shares of DigitalOcean by 571.4% in the 1st quarter. Covestor Ltd now owns 1,947 shares of the company’s stock worth $74,000 after purchasing an additional 1,657 shares during the period. Finally, KBC Group NV lifted its position in shares of DigitalOcean by 47.6% in the 3rd quarter. KBC Group NV now owns 2,096 shares of the company’s stock worth $85,000 after purchasing an additional 676 shares during the period. 49.77% of the stock is owned by institutional investors.

DigitalOcean Trading Down 3.9 %

Shares of NYSE:DOCN opened at $36.85 on Monday. DigitalOcean Holdings, Inc. has a twelve month low of $26.10 and a twelve month high of $44.80. The company’s 50 day moving average is $40.67 and its 200 day moving average is $36.97. The company has a market cap of $3.40 billion, a PE ratio of 43.35, a price-to-earnings-growth ratio of 2.37 and a beta of 1.83.

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, beating analysts’ consensus estimates of $0.40 by $0.12. DigitalOcean had a net margin of 10.86% and a negative return on equity of 43.11%. The firm had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $196.64 million. During the same quarter last year, the company earned $0.17 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts predict that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. UBS Group decreased their target price on shares of DigitalOcean from $40.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Barclays boosted their target price on shares of DigitalOcean from $38.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of DigitalOcean in a report on Tuesday, November 5th. Canaccord Genuity Group boosted their target price on shares of DigitalOcean from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Stifel Nicolaus boosted their target price on shares of DigitalOcean from $32.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, DigitalOcean currently has an average rating of “Hold” and an average price target of $41.50.

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).