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Insider Cluster (2 insiders) ·Filed Sep 21, 2026

NET

Cloudflare, Inc.
NEUTRAL
Impact 2/10
Horizondays Processed1mo ago
Insider cluster: 2 insiders, $329K total
Actionable Insight • Neutral

Insider sales are routine and immaterial. Monitor next earnings for any fundamental change; no immediate catalyst from this cluster.

DirectionNeutral
Confidencehigh
Horizondays
Latest settled — T+20d
NET ▼ -17.37% at T+20d
NEUTRAL call -17.37% · α vs SPY -16.81% · entry $353.00 → $291.69
Next anchor: T+60d in 7w
Latest observation: T+23 -16.68% FF3 residual α
Entry = T+0 close
Sep 21, 2026
via day close
T+1d
-0.19%
call -0.19% · α +0.53%
$352.33
settled 5w ago
T+5d
-0.21%
call -0.21% · α +0.98%
$352.26
settled 28d ago
T+20d
-17.37%
call -17.37% · α -16.81%
$291.69
settled 7d ago
T+60d
Pending
in 7w

Price Chart

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Executive Summary

Two Cloudflare insiders sold shares in a small cluster: Director Ledbetter sold $297K in an open-market sale, and CFO Seifert surrendered $963K in shares for tax withholding. The total open-market sale value ($329K) is trivial relative to Cloudflare's market cap, and the tax-motivated sale is non-informative. No material insider signal.

Key Financial Metrics

Direction
selling
Total Value
$329.0K
Insiders
2

Key Facts

  • Director Carl Ledbetter sold 960 shares at $309.51 for $297K on 2026-09-14 (open-market sale).
  • CFO Thomas Seifert surrendered 2,944 shares at $327.23 for $963K on 2026-09-15 (tax withholding, not open-market).
  • CFO Seifert also sold 100 shares at $318.90 for $32K on 2026-09-17 (open-market sale).
  • Total open-market sales: $329K; total cluster value including tax withholding: $1.29M.
  • No open-market purchases or 10b5-1 plan sales; no C-suite buying.

Financial Impact

Open-market sales of $329K is under 0.1% of Cloudflare's market cap — trivial.

insider holdings

Risk Factors

  • No material insider risk from this cluster; sales are too small to be informative.

Investment Themes

Documents Analyzed

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

DocumentAccession Number
CLUSTER Data (Synthetic)cluster-NET-1790024185755
44 reports for NET
Performance horizon
75% Hit rate @ T+20 3 of 4 directional calls Went positive at some point 4 of 6 best @ T+60▲ +29.18%Jul 7, 2026
Filters
Rows
Reports for NET — sortable, filterable
TypeNow
Oct 26, 2026
today
Institutional Cluster
NEUTRAL ★ 3/10
$327.89awaiting T+20—$331.86 (+1.21%)
Oct 19, 2026
7d ago
Insider Cluster
BEARISH ★ 4/10
$291.69awaiting T+20—$331.86 (−13.77%)
Oct 19, 2026
7d ago
144
NEUTRAL ★ 2/10
$291.69awaiting T+20—$331.86 (+13.77%)
Oct 16, 2026
10d ago
Court Ruling
BEARISH ★ 7/10
$297.58awaiting T+20—$331.86 (−11.52%)
Sep 23, 2026
4w ago
Insider Cluster
NEUTRAL ★ 2/10
$358.82 $303.61▼ −15.39%▼ −14.97%$331.86 (−7.51%)
Sep 21, 2026
5w ago
Insider Cluster
NEUTRAL ★ 2/10
$353.00 $291.69▼ −17.37%▼ −16.81%$331.86 (−5.99%)
Sep 15, 2026
5w ago
Insider Cluster
NEUTRAL ★ 2/10
$324.65 $347.70▲ +7.10%▲ +3.92%$331.86 (+2.22%)
Sep 15, 2026
5w ago
Insider Cluster
NEUTRAL ★ 3/10
$324.65 $347.70▲ +7.10%▲ +3.92%$331.86 (+2.22%)
Sep 2, 2026
7w ago
Court Ruling
BULLISH ★ 5/10
$284.51 $349.07▲ +22.69%▲ +22.90%$331.86 (+16.64%)
Aug 21, 2026
9w ago
Insider Cluster
NEUTRAL ★ 4/10
$280.35 $323.60▲ +15.43%▲ +15.41%$331.86 (+18.37%)
Showing 10 of 44

US Market Status

Market Closed — Opens Tue (< 1m)

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Report published Sep 21, 2026