CLOUDFLARE INC NET
CL A COM · Common Stock · CUSIP 18915M107 · ISIN US18915M1071
American internet infrastructure and website security company
- SectorTechnology
- IndustryServices-Prepackaged Software
- HeadquartersSan Francisco, CA
- Founded2009
- Websitecloudflare.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($148.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $195.68. Options: 53 managers hold calls ($2.4bn notional), 47 hold puts ($1.4bn).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 562 |
| Q4 2022 | 548 |
| Q1 2023 | 571 |
| Q2 2023 | 560 |
| Q3 2023 | 573 |
| Q4 2023 | 679 |
| Q1 2024 | 709 |
| Q2 2024 | 653 |
| Q3 2024 | 680 |
| Q4 2024 | 772 |
| Q1 2025 | 873 |
| Q2 2025 | 949 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 267 | 253 |
| Q4 2023 | 331 | 248 |
| Q1 2024 | 391 | 282 |
| Q2 2024 | 335 | 333 |
| Q3 2024 | 321 | 284 |
| Q4 2024 | 369 | 303 |
| Q1 2025 | 515 | 314 |
| Q2 2025 | 579 | 370 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $631.8m | $786.0m | 1.24 |
| Q4 2024 | $877.8m | $1.1bn | 1.28 |
| Q1 2025 | $898.1m | $652.2m | 0.73 |
| Q2 2025 | $2.4bn | $1.4bn | 0.59 |
Biggest buyers
| Capital World Investors | Added | +6.2m |
| JPMORGAN CHASE & CO | Added | +4.7m |
| Invesco Ltd. | Added | +2.4m |
| ROYAL BANK OF CANADA | Added | +1.4m |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +1.3m |
| GROUPAMA ASSET MANAGMENT | New | +1.1m |
| KBC Group NV | Added | +686.7k |
| VANGUARD GROUP INC | Added | +658.7k |
| GOLDMAN SACHS GROUP INC | Added | +635.0k |
| BlackRock, Inc. | Added | +515.3k |
Biggest sellers
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -2.6m |
| BAILLIE GIFFORD & CO | Reduced | -1.9m |
| MORGAN STANLEY | Reduced | -1.5m |
| SANDS CAPITAL MANAGEMENT, LLC | Reduced | -1.5m |
| Qube Research & Technologies Ltd | Reduced | -1.0m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Sold out | -804.6k |
| Squarepoint Ops LLC | Reduced | -534.5k |
| JANE STREET GROUP, LLC | Reduced | -508.9k |
| Polar Capital Holdings Plc | Reduced | -356.4k |
| Select Equity Group, L.P. | Reduced | -339.9k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $371.9m1.9m shares |
| JANE STREET GROUP, LLC | Added | $327.2m1.7m shares |
| D. E. Shaw & Co., Inc. | Added | $310.5m1.6m shares |
| CITADEL ADVISORS LLC | Reduced | $237.1m1.2m shares |
| ROYAL BANK OF CANADA | Added | $215.4m1.1m shares |
| PEAK6 LLC | Added | $133.4m681.0k shares |
| IMC-Chicago, LLC | Added | $89.2m455.4k shares |
| SG Americas Securities, LLC | Added | $70.5m1.0m shares |
| WELLS FARGO & COMPANY/MN | Added | $65.8m335.8k shares |
| Caption Management, LLC | New | $55.4m283.0k shares |
Biggest puts
| D. E. Shaw & Co., Inc. | Added | $237.6m1.2m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $220.7m1.1m shares |
| CITADEL ADVISORS LLC | Reduced | $129.6m661.9k shares |
| ROYAL BANK OF CANADA | Added | $110.6m565.0k shares |
| SG Americas Securities, LLC | New | $88.7m1.0m shares |
| PEAK6 LLC | Added | $72.9m372.4k shares |
| IMC-Chicago, LLC | Added | $65.4m334.2k shares |
| SIMPLEX TRADING, LLC | Added | $56.4m287.9k shares |
| Walleye Trading LLC | Added | $52.7m268.9k shares |
| JANE STREET GROUP, LLC | Reduced | $46.3m236.3k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Prince Matthew 13G · exempt (held before listing) filed 2026-02-13 | 7.7% |
| Capital World Investors 13G · institution -4.2 pts · filed 2026-05-14 | 7.3% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.2% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.1% |
Fell to 5% or below in the last year: BAILLIE GIFFORD & CO (4.6%, 2026-07-24), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC), MORGAN STANLEY (5.3%, 2026-02-12)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 7 | $57.6m | $56.3m |
| Q4 2023 | 0 | — | 6 | $80.3m | $80.3m |
| Q1 2024 | 0 | — | 6 | $153.2m | $153.2m |
| Q2 2024 | 0 | — | 8 | $79.7m | $79.7m |
| Q3 2024 | 0 | — | 6 | $70.1m | $70.1m |
| Q4 2024 | 0 | — | 6 | $85.8m | $85.8m |
| Q1 2025 | 0 | — | 6 | $115.2m | $115.2m |
| Q2 2025 | 0 | — | 7 | $120.0m | $120.0m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-06-30 | Ledbetter Carl Director · See footnote | Sold plan | $2.9m15.0k shares |
| 2025-06-20 | SEIFERT THOMAS J Chief Financial Officer | Sold plan | $1.8m10.0k shares |
| 2025-06-17 | Ledbetter Carl Director · See footnote | Sold plan | $1.8m10.1k shares |
| 2025-06-13 | Prince Matthew CEO & Board Co-Chair, director · See footnote | Sold plan | $9.0m52.4k shares |
| 2025-06-12 | Prince Matthew CEO & Board Co-Chair, director · See footnote | Sold plan | $9.2m52.4k shares |
| 2025-06-12 | Ledbetter Carl Director · See footnote | Sold plan | $89.3k492 shares |
| 2025-06-11 | Prince Matthew CEO & Board Co-Chair, director · See footnote | Sold plan | $9.4m52.4k shares |
| 2025-06-11 | Ledbetter Carl Director · See footnote | Sold plan | $135.9k749 shares |
| 2025-06-06 | Zatlyn Michelle President and Board Co-Chair, director · See footnote | Sold plan | $4.6m25.6k shares |
| 2025-06-05 | Zatlyn Michelle President and Board Co-Chair, director · See footnote | Sold plan | $4.4m25.6k shares |
| 2025-06-05 | Suder Katrin Director | Sold plan | $104.6k608 shares |
| 2025-06-04 | Zatlyn Michelle President and Board Co-Chair, director · See footnote | Sold plan | $4.4m25.6k shares |
| 2025-06-02 | Kramer Douglas James Chief Legal Officer | Sold plan | $498.0k3.0k shares |
| 2025-05-22 | Zatlyn Michelle President and Board Co-Chair, director · See footnote | Sold plan | $4.0m25.6k shares |
| 2025-05-21 | Zatlyn Michelle President and Board Co-Chair, director · See footnote | Sold plan | $4.0m25.6k shares |
| 2025-05-20 | SEIFERT THOMAS J Chief Financial Officer | Sold plan | $6.5m41.6k shares |
| 2025-05-20 | Zatlyn Michelle President and Board Co-Chair, director · See footnote | Sold plan | $5.5m35.1k shares |
| 2025-05-16 | Riley Janel Chief Accounting Officer | Sold plan | $540.0k3.5k shares |
| 2025-05-15 | Prince Matthew CEO & Board Co-Chair, director · See footnote | Sold plan | $8.0m52.4k shares |
| 2025-05-14 | Prince Matthew CEO & Board Co-Chair, director · See footnote | Sold plan | $8.0m52.4k shares |
| 2025-05-13 | Prince Matthew CEO & Board Co-Chair, director · See footnote | Sold plan | $7.8m52.4k shares |
| 2025-05-01 | Kramer Douglas James Chief Legal Officer | Sold plan | $372.5k3.0k shares |
| 2025-04-25 | SEIFERT THOMAS J Chief Financial Officer | Sold plan | $1.2m10.0k shares |
| 2025-04-17 | Zatlyn Michelle President and Board Co-Chair, director · See footnote | Sold plan | $2.8m25.6k shares |
| 2025-04-16 | Zatlyn Michelle President and Board Co-Chair, director · See footnote | Sold plan | $2.8m25.6k shares |
| 2025-04-15 | Zatlyn Michelle President and Board Co-Chair, director · See footnote | Sold plan | $2.8m25.6k shares |
| 2025-04-10 | Prince Matthew CEO & Board Co-Chair, director · See footnote | Sold plan | $5.3m50.1k shares |
| 2025-04-10 | Prince Matthew CEO & Board Co-Chair, director · See footnote | Sold plan | $249.0k2.3k shares |
| 2025-04-09 | Prince Matthew CEO & Board Co-Chair, director · See footnote | Sold plan | $5.5m52.4k shares |
| 2025-04-08 | Prince Matthew CEO & Board Co-Chair, director · See footnote | Sold plan | $5.3m52.4k shares |
The latest 30 of 31 trades.
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| Capital World Investors 1.16% of their portfolio | 40.8m $8.0bn | Added +6.2m |
| VANGUARD GROUP INC 0.10% of their portfolio | 31.5m $6.2bn | Added +658.7k |
| BAILLIE GIFFORD & CO 3.73% of their portfolio | 25.5m $5.0bn | Reduced -1.9m |
| BlackRock, Inc. 0.08% of their portfolio | 21.4m $4.2bn | Added +515.3k |
| MORGAN STANLEY 0.26% of their portfolio | 20.0m $3.9bn | Reduced -1.5m |
| FMR LLC 0.16% of their portfolio | 14.3m $2.8bn | Added +299.9k |
| JPMORGAN CHASE & CO 0.10% of their portfolio | 7.1m $1.4bn | Added +4.7m |
| STATE STREET CORP 0.05% of their portfolio | 6.6m $1.3bn | Added +46.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 5.5m $1.1bn | Added +270.2k |
| SANDS CAPITAL MANAGEMENT, LLC 2.77% of their portfolio | 4.9m $965.2m | Reduced -1.5m |
| FIRST TRUST ADVISORS LP 0.70% of their portfolio | 4.4m $871.3m | Reduced -162.9k |
| Invesco Ltd. 0.13% of their portfolio | 3.9m $766.7m | Added +2.4m |
| FRANKLIN RESOURCES INC 0.18% of their portfolio | 3.5m $692.9m | Added +66.7k |
| AMERICAN CENTURY COMPANIES INC 0.32% of their portfolio | 3.0m $583.0m | Reduced -60.2k |
| Legal & General Group Plc 0.14% of their portfolio | 2.9m $572.9m | Reduced -100.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.11% of their portfolio | 2.8m $556.7m | Reduced -286.2k |
| NORGES BANK 0.07% of their portfolio | 2.8m $541.5m | Added +509.1k |
| VOYA INVESTMENT MANAGEMENT LLC 0.51% of their portfolio | 2.6m $517.3m | Reduced -2.6m |
| ROYAL BANK OF CANADA 0.05% of their portfolio | 2.4m $474.7m | Added +1.4m |
| GILDER GAGNON HOWE & CO LLC 4.07% of their portfolio | 2.0m $383.0m | Reduced -25.8k |
| 1832 Asset Management L.P. 0.67% of their portfolio | 1.9m $381.8m | Reduced -131.5k |
| Polar Capital Holdings Plc 1.97% of their portfolio | 1.9m $374.8m | Reduced -356.4k |
| NORTHERN TRUST CORP 0.05% of their portfolio | 1.9m $369.6m | Added +6.5k |
| GOLDMAN SACHS GROUP INC 0.06% of their portfolio | 1.8m $353.6m | Added +635.0k |
| DEUTSCHE BANK AG\ 0.10% of their portfolio | 1.5m $285.0m | Added +143.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.17% of their portfolio | 1.4m $273.4m | Reduced -11.7k |
| Pictet Asset Management Holding SA 0.27% of their portfolio | 1.4m $269.6m | Added +122.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio | 1.4m $268.1m | Added +56.9k |
| TWO SIGMA INVESTMENTS, LP 0.48% of their portfolio | 1.4m $267.0m | Reduced -20.8k |
| UBS Group AG 0.05% of their portfolio | 1.3m $259.1m | Added +316.1k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 1.3m $256.1m | Added +496.9k |
| WELLINGTON MANAGEMENT GROUP LLP 0.04% of their portfolio | 1.3m $247.3m | Added +1.3m |
| RAYMOND JAMES FINANCIAL INC 0.08% of their portfolio | 1.2m $231.7m | Added +85.7k |
| Bank of New York Mellon Corp 0.04% of their portfolio | 1.2m $231.5m | Reduced -55.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 1.2m $230.2m | Added +239.5k |
| Strategy Capital LLC 15.37% of their portfolio | 1.2m $228.3m | Added +50.4k |
| GROUPAMA ASSET MANAGMENT 0.02% of their portfolio | 1.1m $1.3m | New |
| LORD, ABBETT & CO. LLC 0.62% of their portfolio | 977.4k $191.4m | Added +89.5k |
| Swiss National Bank 0.11% of their portfolio | 934.6k $183.0m | Added +72.4k |
| MACQUARIE GROUP LTD 0.22% of their portfolio | 922.0k $180.6m | Reduced -20.2k |
| Amundi 0.06% of their portfolio | 904.0k $167.8m | Reduced -186.5k |
| FRED ALGER MANAGEMENT, LLC 0.76% of their portfolio | 865.8k $169.5m | Added +99.9k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.12% of their portfolio | 846.4k $165.8m | Added +52.0k |
| Artisan Partners Limited Partnership 0.23% of their portfolio | 773.2k $151.4m | Added +293.2k |
| Penserra Capital Management LLC 2.04% of their portfolio | 748.1k $146.5m | Added +77.0k |
| KBC Group NV 0.39% of their portfolio | 736.2k $144.2m | Added +686.7k |
| TWO SIGMA ADVISERS, LP 0.28% of their portfolio | 699.9k $137.1m | Reduced -73.1k |
| Mitsubishi UFJ Trust & Banking Corp 0.31% of their portfolio | 679.4k $133.0m | Reduced -158.6k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.04% of their portfolio | 663.6k $130.0m | Added +344.9k |
| Nuveen, LLC 0.04% of their portfolio | 652.1k $127.7m | Reduced -130.6k |
| Amova Asset Management Americas, Inc. 1.22% of their portfolio | 624.5k $122.2m | Reduced -105.3k |
| National Pension Service 0.10% of their portfolio | 612.7k $120.0m | Added +187.6k |
| PEREGRINE CAPITAL MANAGEMENT LLC 3.55% of their portfolio | 601.8k $117.8m | Reduced -35.1k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 576.6k $112.9m | Reduced -39.6k |
| CITADEL ADVISORS LLC 0.10% of their portfolio | 560.0k $109.7m | Added +93.9k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.26% of their portfolio | 546.6k $107.0m | Reduced -57.7k |
| NEUBERGER BERMAN GROUP LLC 0.08% of their portfolio | 538.2k $105.4m | Added +386.7k |
| CIBC Private Wealth Group LLC 0.19% of their portfolio | 538.0k $105.4m | Added +396.8k |
| FEDERATED HERMES, INC. 0.19% of their portfolio | 527.1k $103.2m | Added +336.7k |
| BAMCO INC /NY/ 0.27% of their portfolio | 506.5k $99.2m | Reduced -328.4k |
| California Public Employees Retirement System 0.06% of their portfolio | 506.0k $99.1m | Added +38.9k |
| AustralianSuper Pty Ltd 0.49% of their portfolio | 490.1k $96.0m | Added +471.5k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.10% of their portfolio | 475.1k $93.0m | Added +10.3k |
| Allen Investment Management, LLC 1.00% of their portfolio | 468.1k $91.7m | Added +16.2k |
| AQR CAPITAL MANAGEMENT LLC 0.07% of their portfolio | 461.1k $90.0m | Added +118.2k |
| BESSEMER GROUP INC 0.15% of their portfolio | 460.7k $90.2m | Reduced -137.4k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.37% of their portfolio | 448.7k $87.9m | New |
| MARSHALL WACE, LLP 0.10% of their portfolio | 433.1k $84.8m | Reduced -150.5k |
| CONGRESS ASSET MANAGEMENT CO 0.58% of their portfolio | 430.4k $84.3m | New |
| VICTORY CAPITAL MANAGEMENT INC 0.05% of their portfolio | 430.3k $84.1m | Added +351.9k |
| RHUMBLINE ADVISERS 0.07% of their portfolio | 406.4k $79.6m | Added +4.6k |
| Alfreton Capital LLP 22.73% of their portfolio | 400.0k $78.3m | Reduced -30.0k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 374.4k $73.3m | Reduced -8.9k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 363.2k $71.1m | Added +102.4k |
| Parallax Volatility Advisers, L.P. 2.76% of their portfolio | 360.4k $68.9m | Added +102.0k |
| CANADA LIFE ASSURANCE Co 0.11% of their portfolio | 350.9k $68.7m | Added +6.5k |
| SEI INVESTMENTS CO 0.07% of their portfolio | 329.0k $64.4m | Added +38.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 322.6k $63.2m | Added +119.2k |
| CITIGROUP INC 0.04% of their portfolio | 316.8k $62.0m | Added +139.9k |
| Whetstone Capital Advisors, LLC 17.47% of their portfolio | 315.7k $61.8m | Reduced -1.3k |
| Allspring Global Investments Holdings, LLC 0.10% of their portfolio | 312.3k $57.8m | Reduced -32.7k |
| Select Equity Group, L.P. 0.25% of their portfolio | 303.2k $59.4m | Reduced -339.9k |
| NZS Capital, LLC 2.00% of their portfolio | 300.5k $58.8m | Added +1.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 300.0k $58.8m | Added +234.4k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.10% of their portfolio | 298.8k $58.5m | Added +5.3k |
| Squarepoint Ops LLC 0.12% of their portfolio | 279.4k $54.7m | Reduced -534.5k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.20% of their portfolio | 272.9k $53.4m | Added +75.5k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 0.49% of their portfolio | 272.7k $53.4m | Added +268.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 270.0k $52.9m | Added +23.1k |
| AXA S.A. 0.15% of their portfolio | 259.4k $50.8m | Added +193.6k |
| Ensign Peak Advisors, Inc 0.09% of their portfolio | 255.3k $50.0m | Reduced -65.5k |
| Qube Research & Technologies Ltd 0.07% of their portfolio | 254.8k $49.9m | Reduced -1.0m |
| Linden Advisors LP 0.30% of their portfolio | 248.5k $48.7m | New |
| D. E. Shaw & Co., Inc. 0.05% of their portfolio | 247.7k $48.5m | Added +242.3k |
| CAPITAL INTERNATIONAL SARL 0.91% of their portfolio | 242.0k $47.4m | Added +53.2k |
| WIM INVESTMENT MANAGEMENT Ltd 15.44% of their portfolio | 237.2k $46.5m | Unchanged |
| AVIVA PLC 0.09% of their portfolio | 230.8k $45.2m | Added +128.6k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 230.7k $45.2m | Reduced -38.6k |
| WHITTIER TRUST CO 0.54% of their portfolio | 228.7k $44.8m | Added +228.1k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.36% of their portfolio | 227.8k $44.6m | Reduced -17.5k |