5 Most Successful Tech IPOs of 2021

4. DigitalOcean Holdings, Inc. (NYSE:DOCN)

Number of Hedge Fund Holders: 27   

Gain in 2021: 88%   

DigitalOcean Holdings, Inc. (NYSE:DOCN) owns and runs a cloud computing platform. On November 12, investment advisory William Blair initiated coverage of DigitalOcean Holdings, Inc. (NYSE:DOCN) stock with an Outperform rating and no price target. Analyst James Breen, in an investor note, underlined that the firm was marketing a differentiated platform for the underserved segment of the cloud sector and was operating in a large and growing market. 

DigitalOcean Holdings, Inc. (NYSE:DOCN) posted earnings for the third quarter on November 4, reporting earnings per share of $0.12, beating estimates by $0.05. The revenue over the period was $111 million, up 37% year-on-year. 

At the end of the third quarter of 2021, 27 hedge funds in the database of Insider Monkey held stakes worth $758 million in DigitalOcean Holdings, Inc. (NYSE:DOCN), up from 16 in the preceding quarter worth $219 million.