Cloudflare CFO Thomas J Seifert sells $2.77m in company stock

Cloudflare CFO Thomas J Seifert sells $2.77m in company stock

Stocks snap two-week win streak as AI-trade bleeds, pushing chips into bear market Thomas J Seifert, Chief Financial Officer of Cloudflare, Inc. (NASDAQ:NET), sold 10,000 shares of Class A Common Stock for a total value of $2,769,194. The sales occurred on July 17, 2026, with prices ranging from $266.19 to $281.2933 per share. These transactions were executed pursuant to a Rule 10b5-1 trading plan, which Mr. Seifert adopted on November 20, 2025.

The timing coincides with Cloudflare’s stock trading near its 52-week high of $291, with shares up 51% over the past six months. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value estimate, placing it among companies on the Most Overvalued list. On the same day, Mr. Seifert acquired 10,000 shares of Class A Common Stock through the conversion of Class B Common Stock.

Each share of Class B Common Stock is convertible into Class A Common Stock on a one-to-one basis at the reporting person’s election and has no expiration date. Additionally, on July 15, 2026, Mr. Seifert disposed of 2,943 shares of Class A Common Stock at a price of $281.75 per share, totaling $829,190. These shares were withheld to satisfy tax liabilities related to the vesting of restricted stock units.

Prior to the conversion, Mr. Seifert also exercised 10,000 employee stock options (right to buy) with a conversion price of $2.04 per share. These options were fully vested and immediately exercisable. The underlying securities for these options were Class B Common Stock.

Following these transactions, Mr. Seifert directly holds 113,790 shares of Class A Common Stock and 8,925 shares of Class B Common Stock. He also directly holds 20,000 employee stock options. Indirectly, Mr. Seifert holds 92,337 shares of Class A Common Stock through the 2026 Seifert Grantor Retained Annuity Trust, for which he serves as trustee.

He also indirectly holds 150,000 shares of Class B Common Stock through Center Court Partners Ltd., where he is a partner, and an additional 138,300 shares of Class B Common Stock across three separate Center Court 2020 Trusts, for which he serves as trustee. For deeper analysis of Cloudflare’s valuation and financial health, investors can access the comprehensive Pro Research Report available on InvestingPro. In other recent news, Cloudflare Inc. has been the focus of significant analyst attention and strategic partnerships.

TD Cowen raised its price target for Cloudflare to $300, maintaining a Buy rating, driven by expectations of strong revenue growth of approximately 30% year-over-year ahead of the company’s second-quarter 2026 results. This optimism is echoed by Scotiabank, which upgraded Cloudflare’s stock to Sector Outperform, also setting a price target of $300. Scotiabank’s analysis highlighted Cloudflare’s Workers platform as a key infrastructure for emerging applications, suggesting potential growth in AI infrastructure.

Additionally, Cloudflare has launched a research pilot with OpenAI to enhance AI search indexing using network insights from its extensive web presence. This initiative aims to improve the accuracy and timeliness of AI search results by leveraging Cloudflare’s network data. Furthermore, TD Cowen has identified Cloudflare as a top pick in the cybersecurity sector, emphasizing the company’s potential to capitalize on AI advancements in cybersecurity practices.

These developments reflect a strategic focus on AI and cybersecurity, positioning Cloudflare for potential growth in these areas. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.