Insider Cluster (2 insiders) ·Filed Sep 15, 2026

NET

Cloudflare, Inc.
NEUTRAL
Impact 3/10
Horizondays Processed16d 13h ago
Insider cluster: 2 insiders, $901K total
Actionable Insight • Neutral

Insider activity is immaterial relative to the $117.6B market cap — no directional read-through. Monitor next 10-Q for fundamentals; the CFO's F transaction is a non-cash tax event and the President's $604K sale is routine diversification.

DirectionNeutral
Confidencemedium
Horizondays
Latest settled — T+5d ⚠ clustered
NET ▲ +8.53% at T+5d
NEUTRAL call ✓ call won +8.53% · α vs SPY +5.96% · entry $324.65 → $352.33
Next anchor: T+20d in 11d
Latest observation: T+10 -4.65% FF3 residual α
Entry anchored
Sep 15, 06:25 PM ET
via 1-min bar
T+1d
+2.86%
call +2.86% · α +1.73%
$333.94
settled 16d ago
T+5d
+8.53%
call +8.53% · α +5.96%
$352.33
settled 10d ago
T+20d
—
call — · α —
—
in 11d
T+60d
—
call — · α —
—
in 2mo

Price Chart

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Executive Summary

Two insider sells in the cluster: CFO Thomas Seifert surrendered 2,944 shares for tax withholding (code F, $963K, non-cash) and President & Board Co-Chair Michelle Zatlyn sold 2.2K shares open-market (code S, $604K). Total cluster value $1.51M is 0.0013% of the $117.6B market cap — immaterial. The CFO's F transaction is a non-cash tax event with $0 economic value and carries no signal. The single open-market sale by the President is small relative to company size and not part of a C-suite cluster of sells, so it is not amplified. Recent 30-day insider activity shows 8 sells totaling $3.7M, all immaterial relative to market cap. No cluster-buy signal present.

Key Financial Metrics

Direction
selling
Total Value
$1.5M
Insiders
2

Financial Impact

Not specified

Risk Factors

  • Insider sells are weak predictors; this cluster is too small to signal bearishness.
  • No fundamental deterioration indicated by insider activity alone.

Market Snapshot

Exchange
NYSE
Sector
Services-Prepackaged Software
Analyst Consensus
73% bullish (40 analysts)

Investment Themes

Cloud & SaaSCybersecurity

Documents Analyzed

This report is based on 1 SEC document filed with EDGAR.

DocumentAccession Number
CLUSTER Data (Synthetic)cluster-NET-1789511782572
38 reports for NET
Performance horizon
75% Hit rate 3 of 4 directional calls best @ T+60▲ +29.18%Jul 7, 2026
Filters
Rows
Reports for NET — sortable, filterable
TypeNow
Sep 15, 2026
16d ago
Insider Cluster
NEUTRAL ★ 2/10
$324.65 $352.33▲ +8.53%▲ +5.96%$351.00 (+8.12%)
Sep 15, 2026
16d ago
Insider Cluster
NEUTRAL ★ 3/10
$324.65 $352.33▲ +8.53%▲ +5.96%$351.00 (+8.12%)
Sep 2, 2026
4w ago
Court Ruling
BULLISH ★ 5/10
$272.74 $311.17▲ +14.09%▲ +15.05%$351.00 (+28.69%)
Aug 21, 2026
5w ago
Insider Cluster
NEUTRAL ★ 4/10
$280.35 $305.11▲ +8.83%▲ +8.36%$351.00 (+25.20%)
Aug 19, 2026
6w ago
Insider Cluster
NEUTRAL ★ 3/10
$278.91 $308.23▲ +10.51%▲ +9.40%$351.00 (+25.85%)
Aug 19, 2026
6w ago
Insider Cluster
NEUTRAL ★ 2/10
$278.91 $308.23▲ +10.51%▲ +9.40%$351.00 (+25.85%)
Aug 13, 2026
7w ago
8-K
NEUTRAL ★ 5/10
$315.78 $293.14▼ −7.17%▼ −5.80%$351.00 (+11.15%)
Aug 11, 2026
7w ago
Insider Cluster
NEUTRAL ★ 2/10
$311.45 $291.88▼ −6.28%▼ −5.84%$351.00 (+12.70%)
Aug 6, 2026
8w ago
Insider Cluster
NEUTRAL ★ 3/10
$300.27 $315.78▲ +5.17%▲ +4.77%$351.00 (+16.89%)
Aug 5, 2026
8w ago
Insider Cluster
NEUTRAL ★ 3/10
$284.43 $330.83▲ +16.31%▲ +15.10%$351.00 (+23.40%)
Showing 10 of 38

US Market Status

Market Closed — Opens in 4m

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Report published Sep 16, 2026