Insider Selling: Cloudflare (NYSE:NET) Insider Sells 25,641 Shares of Stock

February 24, 2026 by InsiderTrades.com

Key Points

Michelle Zatlyn, Cloudflare’s COO, sold 25,641 shares on Feb. 23 at an average of $172.76 (≈$4.43M) and completed multiple large sales during Feb. 19–23, cutting her ownership by about 42.6% (SEC filing disclosed).
Cloudflare beat Q4 estimates (EPS $0.28 vs $0.27; revenue $614.5M vs $591.7M, +33.6% YoY) but still posts a negative net margin and ROE, and the stock carries a consensus Moderate Buy rating with an average target of $230.70.

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Michelle Zatlyn sold 25,641 shares of the company's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $172.76, for a total transaction of $4,429,739.16. Following the transaction, the insider directly owned 34,514 shares in the company, valued at approximately $5,962,638.64. This trade represents a 42.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

MarketBeat Week in Review – 02/09 - 02/13

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

On Friday, February 20th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $192.66, for a total transaction of $4,939,995.06.
On Thursday, February 19th, Michelle Zatlyn sold 35,080 shares of Cloudflare stock. The shares were sold at an average price of $187.39, for a total transaction of $6,573,641.20.
On Thursday, January 15th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $190.05, for a total value of $4,873,072.05.
On Tuesday, January 13th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $187.96, for a total value of $4,819,482.36.
On Thursday, December 11th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $208.61, for a total value of $5,348,969.01.
On Tuesday, December 9th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $205.15, for a total value of $5,260,251.15.

Cloudflare Price Performance

Cloudflare stock opened at $159.98 on Tuesday. The firm has a market capitalization of $56.04 billion, a PE ratio of -551.63 and a beta of 1.97. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The firm's 50-day simple moving average is $187.79 and its 200 day simple moving average is $203.85. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46.

Cloudflare: Another AI-Disrupted Stock You Might Want to Buy

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. The company had revenue of $614.51 million during the quarter, compared to analysts' expectations of $591.67 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The firm's quarterly revenue was up 33.6% compared to the same quarter last year. On average, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

A number of large investors have recently modified their holdings of the company. Walser Wealth Management Company A Ltd Liability Co acquired a new position in shares of Cloudflare in the 4th quarter valued at about $232,000. Sunbelt Securities Inc. raised its holdings in Cloudflare by 18.4% in the fourth quarter. Sunbelt Securities Inc. now owns 1,409 shares of the company's stock valued at $278,000 after buying an additional 219 shares during the period. Corient Private Wealth LLC lifted 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 valued at $275,887,000 after buying an additional 1,365,598 shares in the last quarter. Strive Financial Group LLC purchased a new stake in Cloudflare during the fourth quarter worth approximately $50,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in Cloudflare by 1.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 26,768 shares of the company's stock worth $5,277,000 after buying an additional 313 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

12 Analysts Just Raised CrowdStrike Targets—Here’s What They See Coming

A number of research firms have issued reports on NET. Barclays upped their target price on shares of Cloudflare from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, February 11th. Piper Sandler upped their price objective on shares of Cloudflare from $220.00 to $222.00 and gave the company a "neutral" rating in a research note on Wednesday, February 11th. Citizens Jmp set a $270.00 target price on shares of Cloudflare in a research note on Friday, October 31st. DZ Bank upgraded Cloudflare from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a report on Friday, February 13th. Finally, Susquehanna set a $190.00 price objective on Cloudflare in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $230.70.

View Our Latest Report on Cloudflare

Key Stories Impacting Cloudflare

Here are the key news stories impacting Cloudflare this week:

Positive Sentiment: Cloudflare announced it is the first SASE platform to support modern post‑quantum encryption — a product differentiation that strengthens its security positioning for enterprise customers and may support higher-margin sales over time. Cloudflare Becomes the First and Only SASE Platform to Support Modern Post‑Quantum Encryption
Positive Sentiment: Cloudflare entered a strategic partnership with Mastercard to build tools for small businesses — a commercial tie-up that could accelerate go‑to‑market reach and revenue opportunities in payments and SMB segments. Cloudflare, Inc. (NET) Enters into Strategic Partnership with Mastercard Incorporated
Neutral Sentiment: An institutional investor (AMJ Financial Wealth Management) modestly increased its Cloudflare position per a recent 13F filing — a small vote of confidence but not large enough to shift ownership dynamics materially. Cloudflare is AMJ Financial Wealth Management’s 10th Largest Position
Negative Sentiment: White House plans to raise global tariffs to 15% (reported broadly across markets) triggered broad risk‑off moves in tech names and was cited as a direct driver of selling pressure on Cloudflare today. This macro development increases cost uncertainty and investor risk aversion for growth names. Why Cloudflare (NET) Shares Are Getting Obliterated Today
Negative Sentiment: Sector weakness: cybersecurity stocks fell after Anthropic released an AI tool that can scan code for vulnerabilities, stoking investor fears that AI could commoditize parts of the cybersecurity stack and pressure vendors’ business models. Cloudflare, as a security and networking name, was caught up in that sell‑off. Cybersecurity stocks drop for a second day as new Anthropic tool fuels AI disruption fears
Negative Sentiment: Significant insider selling: Chief Operating Officer Michelle Zatlyn sold large blocks of shares across Feb. 19–23 (totaling tens of thousands of shares), sharply reducing her stake — moves investors often view as a negative signal or increased near‑term supply. The sales were disclosed in an SEC filing. SEC Filing — Insider Sales

Cloudflare Company Profile

(Get Free Report)

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.