Insider Selling: Cloudflare (NYSE:NET) Insider Sells $11,636,857.80 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 33,003 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $352.60, for a total transaction of $11,636,857.80. Following the transaction, the insider owned 69,775 shares of the company’s stock, valued at approximately $24,602,665. This trade represents a 32.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Wednesday, October 7th, Michelle Zatlyn sold 33,003 shares of Cloudflare stock. The stock was sold at an average price of $348.29, for a total value of $11,494,614.87.
• 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 transaction of $9,156,022.29.
• On Thursday, September 3rd, Michelle Zatlyn sold 33,003 shares of Cloudflare stock. The shares were sold at an average price of $278.92, for a total transaction of $9,205,196.76.
• On Friday, August 21st, Michelle Zatlyn sold 33,003 shares of Cloudflare stock. The stock was sold at an average price of $277.43, for a total transaction 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 value of $9,723,673.89.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $360.32 on Friday. The stock has a market capitalization of $127.36 billion, a price-to-earnings ratio of -621.23, a price-to-earnings-growth ratio of 271.92 and a beta of 1.65. Cloudflare, Inc. has a 12 month low of $158.83 and a 12 month high of $370.35. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.82 and a quick ratio of 1.82. The business has a 50-day moving average of $316.02 and a 200 day moving average of $260.02.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $664.66 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. The business’s quarterly revenue 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. As a group, sell-side analysts forecast that Cloudflare, Inc. will post 0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NET. Robert W. Baird set a $330.00 price objective on Cloudflare in a report on Friday, August 7th. Morgan Stanley reiterated an “overweight” rating and issued a $370.00 price target on shares of Cloudflare in a research note on Friday, August 7th. Piper Sandler boosted their price objective on shares of Cloudflare from $250.00 to $333.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Guggenheim upped their target price on shares of Cloudflare from $140.00 to $160.00 and gave the company a “sell” rating in a report on Friday, August 7th. Finally, Wall Street Zen cut shares of Cloudflare from a “buy” rating to a “hold” rating in a research report on Sunday, September 6th. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $328.19.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA boosted its stake in shares of Cloudflare by 17.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company’s stock worth $284,900,000 after purchasing an additional 206,506 shares during the last quarter. Insight Holdings Group LLC acquired a new position in Cloudflare in the 1st quarter valued at $6,768,000. Plato Investment Management Ltd purchased a new position in shares of Cloudflare during the 2nd quarter worth $1,499,000. Independent Financial Group LLC acquired a new stake in shares of Cloudflare during the first quarter worth $3,484,000. Finally, Capula Management Ltd grew its position in shares of Cloudflare by 97.1% in the first quarter. Capula Management Ltd now owns 13,526 shares of the company’s stock valued at $2,791,000 after purchasing an additional 6,662 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

About Cloudflare

Cloudflare, Inc is a connectivity cloud company that provides services designed to help organizations make their websites, applications and networks more secure, reliable and faster. Its global network sits between users and the services they access, supporting content delivery, domain name system services, traffic optimization and protection against distributed denial-of-service attacks and other online threats.

The company offers a range of application and network security products, including web application firewalls, bot management, application programming interface protection, zero-trust security and secure access services.