Mid-Sized Cloud 'DigitalOcean' CFO Sells Shares Worth 5 Billion Won

DigitalOcean Holdings, Inc. (NYSE: DOCN), a mid-sized cloud company, saw its Chief Financial Officer Matt Steinfort sell 25,000 shares of common stock on the open market at approximately $152.50 per share on May 15, raising about $3.8 million (roughly KRW 5 billion). Even after this sale, Steinfort still holds some 570,000 shares—valued at around $85.7 million (about KRW 110 billion)—maintaining a significant stake. On May 19, insider Warren Jenson exercised 20,000 stock options at $19.47 per share and immediately sold them at roughly $147.62, realizing about $2.56 million (approximately KRW 3 billion) in profit; his remaining stake is estimated at 32,497 shares, valued at about KRW 7 billion.

In its Q1 FY 2026 results announced May 5, DigitalOcean reported revenue of $258 million—a 22% year-over-year increase—and said it is adding roughly 60 MW of new data-center capacity to meet rising AI inference demand. At the end of April, the company formally launched its AI-native cloud and inference engine, positioning a full-stack cloud platform tailored to AI agents and generative-AI workloads.

Founded in 2011, DigitalOcean is a U.S. cloud-service provider focused on small and medium-sized businesses and developers. Listed on the New York Stock Exchange as an infrastructure-as-a-service provider, the company has expanded from simple virtual server hosting into databases, storage and AI-optimized infrastructure, establishing itself as an AI-native cloud company.