Jacobs Levy Equity Management Inc. Purchases 345,119 Shares of DigitalOcean Holdings, Inc. (NYSE:DOCN)

Jacobs Levy Equity Management Inc. grew its holdings in shares of DigitalOcean Holdings, Inc. (NYSE:DOCN - Free Report) by 32.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,397,588 shares of the company's stock after buying an additional 345,119 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.51% of DigitalOcean worth $56,449,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new stake in DigitalOcean in the third quarter valued at $30,000. Advisors Asset Management Inc. raised its holdings in shares of DigitalOcean by 150.4% during the third quarter. Advisors Asset Management Inc. now owns 974 shares of the company's stock worth $39,000 after purchasing an additional 585 shares during the period. Blue Trust Inc. raised its holdings in shares of DigitalOcean by 380.6% during the third quarter. Blue Trust Inc. now owns 1,211 shares of the company's stock worth $49,000 after purchasing an additional 959 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of DigitalOcean by 56.4% during the third 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. Finally, KBC Group NV raised its holdings in shares of DigitalOcean by 47.6% during the third 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 currently owned by hedge funds and other institutional investors.

Insider Activity

In other DigitalOcean news, insider Bratin Saha sold 16,989 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $36.85, for a total transaction of $626,044.65. Following the completion of the sale, the insider now owns 390,296 shares of the company's stock, valued at $14,382,407.60. This trade represents a 4.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.74% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DOCN shares. Barclays lifted their price objective 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. Stifel Nicolaus raised their price target on shares of DigitalOcean from $32.00 to $35.00 and gave the stock a "hold" rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their price target on shares of DigitalOcean from $32.00 to $40.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. UBS Group reduced their target price on shares of DigitalOcean from $40.00 to $34.00 and set a "neutral" rating for the company in a research note on Friday, August 9th. Finally, Needham & Company LLC reissued a "hold" rating on shares of DigitalOcean in a research report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $41.50.

DigitalOcean Trading Up 2.7 %

Shares of DOCN stock traded up $1.06 on Wednesday, reaching $39.95. The company had a trading volume of 725,624 shares, compared to its average volume of 1,230,930. The stock has a market cap of $3.69 billion, a PE ratio of 46.95, a PEG ratio of 2.52 and a beta of 1.76. The company has a 50-day moving average of $40.15 and a 200-day moving average of $37.18. DigitalOcean Holdings, Inc. has a 12 month low of $26.63 and a 12 month high of $44.80.

DigitalOcean (NYSE:DOCN - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.12. DigitalOcean had a negative return on equity of 43.11% and a net margin of 10.86%. The business had revenue of $198.50 million during the quarter, compared to analysts' expectations of $196.64 million. During the same period in the prior year, the business earned $0.17 EPS. DigitalOcean's revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that DigitalOcean Holdings, Inc. will post 1.01 earnings per share for the current year.

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).