Cloudflare, Inc. (NET) shareholders
NETNYSEServices-Prepackaged SoftwareFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 9/30310% above fair value
$318.50+3.50 (+1.11%)
Close on Nov 12, 2026Market cap $113.41BP/E –Yield –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
79.9%
285M of 356M shares
Institutional holders
1,221
217 new, 118 sold out
Net institutional buying
8M
In Q2 2026
Insider trades, 12 months
0 buys · 830 sales
Net sold $698.37M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Matthew Prince | 26,338,507 | 7.70% | 13G (passive) amendment | Dec 31, 2025 |
| Capital World Investors | 23,032,315 | 7.30% | 13G (passive) amendment | Mar 31, 2026 |
| Morgan Stanley | 16,803,415 | 5.30% | 13G (passive) amendment | Dec 31, 2025 |
| BlackRock, Inc. | 16,649,551 | 5.60% | 13G (passive) amendment | Dec 31, 2023 |
| Vanguard Capital Management | 16,492,428 | 5.19% | 13G (passive) | Mar 31, 2026 |
| Vanguard Portfolio Management | 16,122,179 | 5.07% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of NET | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Capital World Investors | 24,325,692 | 6.83% | $5.97B | +1,590,123 | 0.70% |
| BlackRock, Inc. | 21,598,907 | 6.07% | $5.30B | +504,625 | 0.08% |
| Vanguard Portfolio Management LLC | 16,819,726 | 4.72% | $4.13B | +779,837 | 0.19% |
| Morgan Stanley | 15,258,327 | 4.29% | $3.74B | −624,994 | 0.20% |
| Baillie Gifford & Co | 14,598,594 | 4.10% | $3.58B | −1,325,829 | 3.25% |
| Vanguard Capital Management LLC | 14,430,365 | 4.05% | $3.54B | +714,169 | 0.08% |
| FMR LLC | 12,655,471 | 3.55% | $3.10B | −904,980 | 0.13% |
| Capital International Investors | 10,981,005 | 3.08% | $2.69B | +87,840 | 0.56% |
| State Street Corp | 7,420,765 | 2.08% | $1.82B | +242,046 | 0.05% |
| Geode Capital Management, LLC | 5,963,905 | 1.67% | $1.46B | −29,524 | 0.08% |
| Jennison Associates LLC | 5,419,068 | 1.52% | $1.33B | +1,024,584 | 0.80% |
| JPMorgan Chase & Co | 5,269,562 | 1.48% | $1.28B | −633,183 | 0.07% |
| American Century Companies Inc | 4,286,156 | 1.20% | $1.05B | +658,901 | 0.46% |
| Wellington Management Group Llp | 4,048,753 | 1.14% | $993.08M | +37,923 | 0.17% |
| First Trust Advisors LP | 3,756,643 | 1.06% | $921.43M | −17,383 | 0.54% |
| Franklin Resources Inc | 3,729,976 | 1.05% | $914.89M | +379,201 | 0.20% |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | 3,677,783 | 1.03% | $902.09M | −824,979 | 0.69% |
| Norges Bank | 3,596,888 | 1.01% | $882.24M | New | 0.09% |
| Sands Capital Management, LLC | 3,239,504 | 0.91% | $794.59M | −422,245 | 2.95% |
| Invesco Ltd. | 3,103,792 | 0.87% | $761.30M | −9,733 | 0.06% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 1,221 | 285M | 79.9% | 217 / 486 | 382 / 118 | 28M | 20M |
| Q1 2026 | 1,137 | 277M | 77.8% | 179 / 484 | 341 / 120 | 74M | 43M |
| Q4 2025 | 1,091 | 280M | 78.6% | 183 / 433 | 343 / 113 | 21M | 27M |
| Q3 2025 | 1,039 | 287M | 80.5% | 176 / 408 | 320 / 71 | 28M | 20M |
| Q2 2025 | 947 | 279M | 78.3% | 190 / 400 | 264 / 107 | 32M | 19M |
| Q1 2025 | 872 | 267M | 74.9% | 190 / 342 | 240 / 75 | 27M | 23M |
| Q4 2024 | 771 | 264M | 74.1% | 166 / 254 | 241 / 63 | 21M | 13M |
| Q3 2024 | 680 | 256M | 72.0% | 87 / 244 | 232 / 51 | 31M | 12M |
| Q2 2024 | 652 | 256M | 71.9% | 69 / 271 | 216 / 119 | 23M | 72M |
| Q1 2024 | 709 | 306M | 86.0% | 114 / 286 | 207 / 75 | 40M | 14M |
| Q4 2023 | 678 | 280M | 78.6% | 155 / 217 | 209 / 40 | 43M | 14M |
| Q3 2023 | 572 | 251M | 70.4% | 75 / 198 | 196 / 57 | 13M | 8M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
714 funds held NET in Q2 2026, 34% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of NET | Value | % of fund | As of |
|---|---|---|---|---|---|
| Growth Fund of America | 15,224,485 | 4.28% | $3.68B | 1.02% | May 31, 2026 |
| Vanguard Total Stock Market Index Fund | 10,144,098 | 2.85% | $2.49B | 0.11% | Jun 30, 2026 |
| Vanguard Mid-Cap Index Fund | 6,923,487 | 1.94% | $1.70B | 0.76% | Jun 30, 2026 |
| New Perspective Fund | 5,744,708 | 1.61% | $1.41B | 0.83% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 3,664,345 | 1.03% | $898.79M | 0.92% | Jun 30, 2026 |
| Vanguard Growth Index Fund | 3,616,405 | 1.02% | $887.03M | 0.23% | Jun 30, 2026 |
| Growth Fund | 3,603,033 | 1.01% | $883.75M | 1.54% | Jun 30, 2026 |
| Vanguard U.S. Growth Fund | 2,528,224 | 0.71% | $611.38M | 1.29% | May 31, 2026 |
| Vanguard Mid-Cap Growth Index Fund | 2,447,872 | 0.69% | $600.41M | 1.72% | Jun 30, 2026 |
| Vanguard Information Technology Index Fund | 2,423,658 | 0.68% | $586.09M | 0.34% | May 31, 2026 |
| First Trust Nasdaq Cybersecurity ETF | 2,272,889 | 0.64% | $557.49M | 4.03% | Jun 30, 2026 |
| Fidelity Growth Company Fund | 2,228,313 | 0.63% | $538.85M | 0.55% | May 31, 2026 |
| Franklin Dynatech Fund | 2,000,000 | 0.56% | $490.56M | 1.62% | Jun 30, 2026 |
| Growth Portfolio | 1,968,983 | 0.55% | $482.95M | 13.44% | Jun 30, 2026 |
| Ultra Fund | 1,957,000 | 0.55% | $545.96M | 2.12% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Michelle Zatlyn | President and Board Co-Chair, Director | 1,128,787 | 0.32% | Oct 7, 2026 |
| Matthew Prince | CEO & Board Co-Chair, Director, 10% owner | 4,561,994 | 1.28% | Aug 18, 2026 |
| Thomas J. Seifert | Chief Financial Officer | 252,320 | 0.07% | Oct 19, 2026 |
| Alissa Michelle Starzak | Chief Legal Officer | 112,082 | 0.03% | Aug 19, 2026 |
| Janel Riley | Chief Accounting Officer | 42,647 | 0.01% | Aug 19, 2026 |
| Douglas James Kramer | Chief Legal Officer | 118,824 | 0.03% | Feb 18, 2026 |
| Carl Ledbetter | Director | 888,514 | 0.25% | Oct 19, 2026 |
| John Graham-Cumming | Director | 497,251 | 0.14% | Aug 11, 2026 |
| Mark J. Hawkins | Director | 10,632 | 0.00% | Aug 4, 2026 |
| Karim Lakhani | Director | 7,548 | 0.00% | Jul 2, 2026 |
| Stacey Cunningham | Director | 4,215 | 0.00% | Jul 2, 2026 |
| Katrin Suder | Director | 45,772 | 0.01% | Jul 2, 2026 |
| Scott D. Sandell | Director | 48,378 | 0.01% | Jul 2, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Thomas J. Seifert Chief Financial Officer | Oct 19, 2026 | Sale(10b5-1 plan) | −500 | $304.15 | $152.08K | 104,958 |
| Thomas J. Seifert Chief Financial Officer | Oct 19, 2026 | Sale(10b5-1 plan) | −502 | $303.26 | $152.23K | 105,458 |
| Thomas J. Seifert Chief Financial Officer | Oct 19, 2026 | Sale(10b5-1 plan) | −598 | $301.99 | $180.59K | 105,960 |
| Thomas J. Seifert Chief Financial Officer | Oct 19, 2026 | Sale(10b5-1 plan) | −2,643 | $300.39 | $793.93K | 106,558 |
| Thomas J. Seifert Chief Financial Officer | Oct 19, 2026 | Sale(10b5-1 plan) | −3,756 | $299.36 | $1.12M | 109,201 |
| Thomas J. Seifert Chief Financial Officer | Oct 19, 2026 | Sale(10b5-1 plan) | −3,401 | $298.32 | $1.01M | 112,957 |
| Thomas J. Seifert Chief Financial Officer | Oct 19, 2026 | Sale(10b5-1 plan) | −1,100 | $297.29 | $327.02K | 116,358 |
| Thomas J. Seifert Chief Financial Officer | Oct 19, 2026 | Option exercise | +12,500 | $44.72 | $559.00K | 117,458 |
| Carl Ledbetter Director | Oct 19, 2026 | Sale(10b5-1 plan) | −1,106 | $305.60 | $337.99K | 868,073 |
| Carl Ledbetter Director | Oct 19, 2026 | Sale(10b5-1 plan) | −1,963 | $304.47 | $597.68K | 869,179 |
| Carl Ledbetter Director | Oct 19, 2026 | Sale(10b5-1 plan) | −1,931 | $303.64 | $586.32K | 871,142 |
| Thomas J. Seifert Chief Financial Officer | Oct 15, 2026 | Tax withholding | −2,944 | $316.32 | $931.25K | 104,958 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 7, 2026 | Sale(10b5-1 plan) | −297 | $352.25 | $104.62K | 69,775 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 7, 2026 | Sale(10b5-1 plan) | −2,162 | $351.40 | $759.73K | 70,072 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 7, 2026 | Sale(10b5-1 plan) | −4,240 | $350.37 | $1.49M | 72,234 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 7, 2026 | Sale(10b5-1 plan) | −3,900 | $349.38 | $1.36M | 76,474 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 7, 2026 | Sale(10b5-1 plan) | −7,688 | $348.23 | $2.68M | 80,374 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 7, 2026 | Sale(10b5-1 plan) | −9,022 | $347.20 | $3.13M | 88,062 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 7, 2026 | Sale(10b5-1 plan) | −5,694 | $346.40 | $1.97M | 97,084 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 7, 2026 | Conversion | +33,003 | – | – | 102,778 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 6, 2026 | Sale(10b5-1 plan) | −752 | $369.34 | $277.74K | 69,775 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 6, 2026 | Sale(10b5-1 plan) | −4,083 | $368.59 | $1.50M | 70,527 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 6, 2026 | Sale(10b5-1 plan) | −8,559 | $367.72 | $3.15M | 74,610 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 6, 2026 | Sale(10b5-1 plan) | −9,170 | $366.65 | $3.36M | 83,169 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 6, 2026 | Sale(10b5-1 plan) | −6,179 | $365.69 | $2.26M | 92,339 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 6, 2026 | Sale(10b5-1 plan) | −4,260 | $364.39 | $1.55M | 98,518 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 6, 2026 | Conversion | +33,003 | – | – | 102,778 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 5, 2026 | Sale(10b5-1 plan) | −157 | $356.05 | $55.90K | 69,775 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 5, 2026 | Sale(10b5-1 plan) | −6,136 | $355.45 | $2.18M | 69,932 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 5, 2026 | Sale(10b5-1 plan) | −2,823 | $354.32 | $1.00M | 76,068 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 5, 2026 | Sale(10b5-1 plan) | −5,892 | $353.35 | $2.08M | 78,891 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 5, 2026 | Sale(10b5-1 plan) | −6,864 | $352.39 | $2.42M | 84,783 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 5, 2026 | Sale(10b5-1 plan) | −4,829 | $351.30 | $1.70M | 91,647 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 5, 2026 | Sale(10b5-1 plan) | −2,683 | $350.09 | $939.29K | 96,476 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 5, 2026 | Sale(10b5-1 plan) | −3,619 | $349.07 | $1.26M | 99,159 |
| Michelle Zatlyn President and Board Co-Chair, Director | Oct 5, 2026 | Conversion | +33,003 | – | – | 102,778 |
| Carl Ledbetter Director | Sep 22, 2026 | Sale(10b5-1 plan) | −5,000 | $353.15 | $1.77M | 873,073 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −300 | $328.04 | $98.41K | 117,302 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −2,632 | $333.62 | $878.09K | 110,470 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −1,604 | $332.50 | $533.33K | 113,102 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −1,196 | $331.59 | $396.58K | 114,706 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −700 | $330.23 | $231.16K | 115,902 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −700 | $329.37 | $230.56K | 116,602 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −1,868 | $334.59 | $625.01K | 108,602 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −100 | $326.56 | $32.66K | 117,602 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −100 | $320.89 | $32.09K | 117,702 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −100 | $318.90 | $31.89K | 117,802 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Conversion | +10,000 | – | – | 117,902 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −100 | $336.51 | $33.65K | 107,902 |
| Thomas J. Seifert Chief Financial Officer | Sep 17, 2026 | Sale(10b5-1 plan) | −600 | $335.32 | $201.19K | 108,002 |
| Thomas J. Seifert Chief Financial Officer | Sep 15, 2026 | Tax withholding | −2,944 | $327.23 | $963.37K | 107,902 |
| Carl Ledbetter Director | Sep 14, 2026 | Sale(10b5-1 plan) | −440 | $310.54 | $136.64K | 881,673 |
| Carl Ledbetter Director | Sep 14, 2026 | Sale(10b5-1 plan) | −1,200 | $313.71 | $376.45K | 878,073 |
| Carl Ledbetter Director | Sep 14, 2026 | Sale(10b5-1 plan) | −2,400 | $312.86 | $750.86K | 879,273 |
| Carl Ledbetter Director | Sep 14, 2026 | Sale(10b5-1 plan) | −960 | $309.51 | $297.13K | 882,113 |
| Michelle Zatlyn PRESIDENT & BOARD CO-CHAIR, Director | Sep 8, 2026 | Sale(10b5-1 plan) | −5,489 | $279.41 | $1.53M | 69,775 |
| Michelle Zatlyn PRESIDENT & BOARD CO-CHAIR, Director | Sep 8, 2026 | Sale(10b5-1 plan) | −14,961 | $278.48 | $4.17M | 75,264 |
| Michelle Zatlyn PRESIDENT & BOARD CO-CHAIR, Director | Sep 8, 2026 | Sale(10b5-1 plan) | −4,823 | $277.53 | $1.34M | 90,225 |
| Michelle Zatlyn PRESIDENT & BOARD CO-CHAIR, Director | Sep 8, 2026 | Sale(10b5-1 plan) | −1,387 | $276.58 | $383.62K | 95,048 |
| Michelle Zatlyn PRESIDENT & BOARD CO-CHAIR, Director | Sep 8, 2026 | Sale(10b5-1 plan) | −2,202 | $274.39 | $604.21K | 96,435 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
2.43%
8M shares short
Days to cover
2.3
At 3M shares a day
Change since last report
-0.4%
From 8M shares
Short volume, 20 days
47.1%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Cloudflare's stock actually held short. Settlement fails (shares not delivered on time) peaked at 37,191 shares on Aug 24, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Thomas J. Seifert Officer | Oct 19, 2026 | 12,500 | $3.70M | Oct 19, 2026 | Exercise of Stock Options |
| Michelle Zatlyn Officer | Oct 5, 2026 | 297,027 | $106.78M | Oct 5, 2026 | Acquired as compensation -- Stock Options |
| Carl Ledbetter Director | Sep 22, 2026 | 25,000 | $8.83M | Sep 22, 2026 | Restricted Stock Units |
| Thomas J. Seifert Officer | Sep 17, 2026 | 10,000 | $3.25M | Sep 17, 2026 | Exercise of Stock Options |
| Alissa Michelle Starzak Officer | Aug 18, 2026 | 2,538 | $773.28K | Aug 18, 2026 | Restricted Stock |
| Thomas J. Seifert Officer | Aug 17, 2026 | 10,000 | $3.16M | Aug 17, 2026 | Exercise of Stock Options |
| Alissa Michelle Starzak Officer | Aug 17, 2026 | 3,333 | $1.03M | Aug 17, 2026 | Stock Option Exercise |
| Thomas J. Seifert Officer | Aug 4, 2026 | 55,000 | $15.55M | Aug 4, 2026 | Exercise of Stock Options |
| Mark J. Hawkins Director | Aug 3, 2026 | 133 | $36.94K | Aug 3, 2026 | Restricted Stock |
| Thomas J. Seifert Officer | Jul 17, 2026 | 10,000 | $2.72M | Jul 17, 2026 | Exercise of Stock Options |
| Michelle Zatlyn Officer | Jul 13, 2026 | 297,082 | $80.07M | Jul 13, 2026 | Acquired as compensation -- Stock Options |
| Carl Ledbetter Director | Jul 7, 2026 | 15,000 | $4.02M | Jul 7, 2026 | Restricted Stock Units |
| John Graham-Cumming Director | Jul 6, 2026 | 5,040 | $1.25M | Jul 6, 2026 | Acquired as compensation -- Stock Options |
| Matthew Prince Officer | Jul 1, 2026 | 471,486 | $116.13M | Jul 1, 2026 | Originally acquired Class B common shares from Issuer in private transaction; Class B common shares to be converted to Class A common shares in connection with any sales. |
| Mark J. Hawkins Director | Jul 1, 2026 | 133 | $33.12K | Jul 1, 2026 | Restricted Stock |
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