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Cloudflare, Inc. (NASDAQ: NYSE:NET) Chief Financial Officer Thomas J. Seifert sold 10,000 shares of Class A Common Stock on June 20, 2025, for approximately $1.8 million. The sales occurred in multiple transactions with prices ranging from $179.4303 to $184.44, near the stock’s 52-week high of $184.93. The company’s shares have surged 135% over the past year, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.
On the same day, Seifert also acquired 10,000 shares of Class A Common Stock upon conversion of Class B Common Stock.
Following these transactions, Seifert directly owns 241,550 shares of Cloudflare Class A Common Stock.
In other recent news, Cloudflare announced the pricing of $1.75 billion in convertible senior notes due 2030 in a private offering to qualified institutional buyers. The company plans to use the proceeds for general corporate purposes, including working capital, capital expenditures, and potential acquisitions. Additionally, Cloudflare entered into capped call transactions to offset potential dilution from the notes. Meanwhile, TD Cowen has raised its price target for Cloudflare to $200 from $150, maintaining a Buy rating due to strong demand for the company’s platform. The firm noted that Cloudflare is on track to reach $5 billion in annual recurring revenue, with acceleration expected in fiscal year 2026. Despite a recent service outage, JMP Securities maintained a Market Outperform rating with a $180 price target. The outage affected various Cloudflare services but was quickly resolved, attributed to a third-party issue. These developments reflect continued investor interest in Cloudflare’s growth prospects and financial strategies.
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