Insider Selling: Cloudflare (NYSE:NET) Insider Sells $9,205,196.76 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 33,003 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $278.92, for a total value of $9,205,196.76. Following the completion of the transaction, the insider owned 69,775 shares in the company, valued at approximately $19,461,643. The trade was a 32.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michelle Zatlyn also recently made the following trade(s):

• On Tuesday, September 8th, Michelle Zatlyn sold 33,003 shares of Cloudflare stock. The stock was sold at an average price of $277.43, for a total value of $9,156,022.29.
• On Friday, August 21st, Michelle Zatlyn sold 33,003 shares of Cloudflare stock. The shares were sold at an average price of $277.43, for a total value of $9,156,022.29.
• On Wednesday, August 19th, Michelle Zatlyn sold 33,003 shares of Cloudflare stock. The shares were sold at an average price of $294.63, for a total transaction of $9,723,673.89.
• On Thursday, June 18th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $219.11, for a total transaction of $5,618,199.51.
• On Tuesday, June 16th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $232.98, for a total transaction of $5,973,840.18.

Cloudflare Trading Down 0.9%

Shares of Cloudflare stock opened at $311.44 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.22. The company has a fifty day simple moving average of $284.64 and a 200-day simple moving average of $238.46. The stock has a market cap of $110.09 billion, a price-to-earnings ratio of -536.97, a PEG ratio of 256.82 and a beta of 1.66. Cloudflare, Inc. has a 12-month low of $158.83 and a 12-month high of $332.22.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The firm had revenue of $696.06 million for the quarter, compared to analyst estimates of $664.66 million. During the same period last year, the business earned $0.21 EPS. Cloudflare’s revenue for the quarter was up 35.9% compared to the same quarter last year. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. On average, equities analysts forecast that Cloudflare, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on NET. Truist Financial raised their price target on Cloudflare from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $250.00 price objective on shares of Cloudflare in a report on Monday, August 3rd. Robert W. Baird set a $330.00 target price on shares of Cloudflare in a research report on Friday, August 7th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $394.00 target price on shares of Cloudflare in a report on Monday, August 31st. Finally, Oppenheimer upped their price target on shares of Cloudflare from $330.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Cloudflare currently has an average rating of “Moderate Buy” and a consensus target price of $320.19.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NET. California State Teachers Retirement System lifted its holdings in shares of Cloudflare by 24,491.6% in the 2nd quarter. California State Teachers Retirement System now owns 114,562,194 shares of the company’s stock valued at $28,099,815,000 after buying an additional 114,096,335 shares during the period. Norges Bank acquired a new position in Cloudflare during the fourth quarter worth $718,316,000. Jennison Associates LLC raised its position in Cloudflare by 135.8% in the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company’s stock worth $906,758,000 after acquiring an additional 2,530,872 shares in the last quarter. Corient Private Wealth LLC raised its position in Cloudflare by 4,042.6% in the fourth quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock worth $275,887,000 after acquiring an additional 1,365,598 shares in the last quarter. Finally, Swedbank AB lifted its holdings in Cloudflare by 697.5% in the first quarter. Swedbank AB now owns 927,606 shares of the company’s stock valued at $191,402,000 after acquiring an additional 811,297 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Key Cloudflare News

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Cloudflare’s large-customer momentum remains a key growth driver. Rising customer spending, strong retention and increased adoption of multiple products are supporting revenue expansion and could improve the company’s ability to monetize its platform. Can Large-Customer Gains Remain a Key Driver of NET’s Revenue Growth?
• Positive Sentiment: Investor enthusiasm was fueled by Cloudflare’s reported AI-security collaboration with OpenAI, which is viewed as marquee validation of the company’s positioning in agentic AI and cybersecurity. The service reportedly integrates OpenAI’s cyber models with Cloudflare’s infrastructure. Cloudflare Surges on OpenAI Security Partnership
• Positive Sentiment: At the Goldman Sachs Communacopia conference, management offered an upbeat outlook, saying Cloudflare’s potential opportunity could be “much larger” than its current business. Continued demand tied to AI agents and digital security is reinforcing the bullish narrative. Cloudflare Soars on Upbeat Outlook
• Neutral Sentiment: The recent rally has left Cloudflare trading near its 52-week high, with a market capitalization above $110 billion and a very elevated valuation. Analysts remain broadly positive, including price targets above the current level, but the stock is increasingly sensitive to any slowdown in growth or weaker AI-related execution. Cloudflare Stock Analysis
• Negative Sentiment: Insider Michelle Zatlyn sold 33,003 shares worth approximately $9.2 million under a pre-arranged Rule 10b5-1 plan. While scheduled sales do not necessarily signal deteriorating fundamentals, the reduction in her direct holdings adds a modest sentiment headwind after the stock’s rapid advance. Cloudflare Insider Selling

Cloudflare Company Profile

Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.

The company’s offerings include content delivery and domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.