Cloudflare (NYSE:NET) Insider Sells $11,494,614.87 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 33,003 shares of Cloudflare stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $348.29, for a total value of $11,494,614.87. Following the completion of the sale, the insider directly owned 69,775 shares in the company, valued at approximately $24,301,934.75. This represents a 32.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 5th, Michelle Zatlyn sold 33,003 shares of Cloudflare stock. The shares were sold at an average price of $352.60, for a total value of $11,636,857.80.
• 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 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 value of $9,205,196.76.
• 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 transaction of $9,156,022.29.
• On Wednesday, August 19th, Michelle Zatlyn sold 33,003 shares of Cloudflare stock. The stock was sold at an average price of $294.63, for a total transaction of $9,723,673.89.

Cloudflare Stock Performance

Shares of NET stock opened at $360.32 on Friday. The company has a fifty day moving average price of $316.02 and a two-hundred day moving average price of $260.02. Cloudflare, Inc. has a one year low of $158.83 and a one year high of $370.35. The stock has a market cap of $127.36 billion, a P/E ratio of -621.23, a P/E/G ratio of 271.92 and a beta of 1.65. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.82 and a quick ratio of 1.82.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) 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 company had revenue of $696.06 million for the quarter, compared to analysts’ expectations of $664.66 million. During the same period in the prior year, the firm earned $0.21 EPS. Cloudflare’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, equities analysts predict that Cloudflare, Inc. will post 0.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NET shares. DZ Bank lowered Cloudflare from a “strong-buy” rating to a “strong sell” rating in a report on Friday, August 7th. New Street Research reissued a “market outperform” rating on shares of Cloudflare in a research report on Monday, June 15th. Jefferies Financial Group set a $350.00 target price on shares of Cloudflare in a research note on Friday, August 7th. Wells Fargo & Company upped their price target on shares of Cloudflare from $300.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, TD Cowen raised their price objective on shares of Cloudflare from $300.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Moderate Buy” and an average target price of $328.19.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC increased its holdings in shares of Cloudflare by 135.8% during the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company’s stock worth $906,758,000 after purchasing an additional 2,530,872 shares during the period. Amundi boosted its stake in shares of Cloudflare by 2.0% in the first quarter. Amundi now owns 1,707,256 shares of the company’s stock valued at $352,275,000 after buying an additional 32,804 shares during the period. Corient Private Wealth LLC grew its position in Cloudflare by 4,042.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock worth $275,887,000 after buying an additional 1,365,598 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Cloudflare by 17.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company’s stock worth $284,900,000 after buying an additional 206,506 shares in the last quarter. Finally, National Pension Service raised its holdings in Cloudflare by 1.6% in the 2nd quarter. National Pension Service now owns 959,987 shares of the company’s stock valued at $235,466,000 after acquiring an additional 15,546 shares in the last quarter. 82.68% of the stock is owned by 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.