DigitalOcean SVP Cherie Barrett sells $589,840 in company stock
DigitalOcean's Chief Accounting Officer, Cherie Barrett, divested 4,456 shares of the company's stock on August 13, 2026. The sale, executed under a pre-approved plan, fetched $589,840 at a price of $132.37 per share. Post-transactions, Barrett retained 65,487 shares of DigitalOcean common stock. This move follows a notable surge in DigitalOcean's shares, up 327% year-to-date, trading at $135.28 with a market cap of $15.91 billion.
Despite this, InvestingPro's analysis flags the stock as overvalued, placing it on the Most Overvalued list. The company's recent Q2 2026 earnings exceeded expectations, with adjusted earnings per share of $0.45 on $281.18 million in revenue, outpacing Wall Street's estimates of $0.25 per share and $276.85 million in revenue. Revenue grew by 29% year-over-year, fueled by robust AI services and record customer commitments.
However, UBS adjusted its price target down from $155 to $140, maintaining a Neutral rating, following confirmation of capacity limits at 20 megawatts. DigitalOcean forecasts a fiscal 2027 growth outlook exceeding 50%.
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