Cloudflare CFO Thomas Seifert sells $3.7m in company stock

Cloudflare, Inc. (NASDAQ:NET) Chief Financial Officer Thomas J. Seifert sold company stock totaling approximately $3.74 million on October 19, 2026. These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan, which was adopted by Mr. Seifert on November 20, 2025. The timing comes as the stock trades at $297.58, which InvestingPro analysis indicates is overvalued relative to its Fair Value—placing it among companies on the Most Overvalued list.

Mr. Seifert disposed of a total of 12,500 shares of Class A Common Stock. The sales occurred at weighted average prices ranging from $297.2919 to $304.15 per share.

On the same date, Mr. Seifert acquired 12,500 shares of Class A Common Stock through the exercise of performance stock options. These shares were acquired at an exercise price of $44.72 per share, representing a total value of $559,000. The performance stock options become eligible to vest upon the achievement of certain stock price targets.

Additionally, on October 15, 2026, 2,944 shares of Class A Common Stock were disposed of at a price of $316.32 per share, totaling $931,246. These shares were withheld to satisfy tax liabilities related to the vesting of restricted stock units.

Following these reported transactions, Mr. Seifert directly holds 104,958 shares of Cloudflare Class A Common Stock. He also indirectly holds 92,337 shares through the 2026 Seifert Grantor Retained Annuity Trust, for which he serves as trustee. Furthermore, Mr. Seifert directly holds 487,500 performance stock options. The stock has declined 15% over the past week despite gaining 48% over six months. For deeper insights into Cloudflare’s valuation and 12 additional InvestingPro Tips, investors can access the comprehensive Pro Research Report available for NET and 1,400+ other US equities.

In other recent news, Cloudflare Inc. has been the focus of several analyst updates and strategic developments. TD Cowen raised its price target for Cloudflare to $375, maintaining a Buy rating, with expectations of a 31% revenue increase year-over-year to $737 million for the third quarter of 2026. Cantor Fitzgerald reiterated a Neutral rating with a $340 price target, following Cloudflare’s announcement of a strategic partnership with Deutsche Telekom to enhance connectivity and security offerings across European enterprises. Additionally, Citizens maintained a Market Outperform rating and a $394 price target for Cloudflare, highlighting the strength of the company’s AI products after meetings with company executives.

Meanwhile, OpenAI launched its Agents API in public beta, allowing developers to access the infrastructure behind its Codex and ChatGPT products through a single API call. This development enables the creation of cloud-based agents with flexible deployment options. In related earnings news, Atlassian reported a strong fiscal Q4, with adjusted EPS of $1.87 on revenue of $1.77 billion, surpassing analyst expectations. The company’s cloud revenue grew by 31%, and it recorded its first GAAP operating profit in over two years. Bank of America responded by upgrading Atlassian to Buy, raising its price target to $175.