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Michelle Zatlyn, President and Board Co-Chair at Cloudflare, Inc. (NASDAQ: NYSE:NET), sold a total of 39,034 shares of Class A Common Stock between July 15 and July 17, 2025. The transaction comes as Cloudflare’s stock trades near its 52-week high of $198.01, having delivered an impressive 137% return over the past year. According to InvestingPro analysis, the company’s market capitalization now stands at $66.2 billion. The sales were executed under a pre-arranged 10b5-1 trading plan.
The shares were sold at weighted average prices ranging from $181.2784 to $191.0702, resulting in total proceeds of approximately $14.4 million.
On the same dates, Zatlyn also acquired 76,923 shares of Class A Common Stock upon conversion of Class B Common Stock.
In other recent news, Cloudflare announced the pricing of $1.75 billion in convertible senior notes due 2030, aimed at qualified institutional buyers. This offering is expected to generate approximately $1.72 billion in net proceeds, which will be used for general corporate purposes and to offset potential dilution from the notes through capped call transactions. In addition, TD Cowen has increased its price target for Cloudflare to $200, up from $150, maintaining a Buy rating. The firm cited strong demand for Cloudflare’s platform despite recent service disruptions, which were resolved quickly and received positive customer feedback.
JMP Securities also maintained a Market Outperform rating on Cloudflare, setting a price target of $180. The company experienced a brief outage due to a misconfiguration, which has since been resolved with steps identified to prevent future occurrences. Despite these technical issues, analysts from both firms express confidence in Cloudflare’s growth trajectory. The company also plans to grant initial purchasers a 13-day option to purchase an additional $250 million in notes. These recent developments reflect ongoing strategic financial maneuvers and analyst confidence in Cloudflare’s future performance.
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