Cloudflare (NET)

Company Profile

cloudflare is the simplest way to make websites faster, safer and smarter. millions of websites have signed up for our service, including large enterprises, major consumer destinations, and government agencies. with offices in san francisco and london, cloudflare operates a highly-available global network that has security measures built into every layer and regularly clocks in lightning-fast speeds. our network also: ...serves hundreds of billions of page views per month ...reaches 90% of the world’s population in less than .23 seconds ...sees more than 750m unique ips per month ...has successfully defended against the largest ddos attack publicly recorded we're on a mission to build a better web - and we need smart, talented people to join our team. our team works on the forefront of leading technologies including nginx, go and lua programming languages. we're a strong supporter of the open source community and regularly share our technology learnings at https://blog.cloud

Company profile

Ticker

NET

Exchange

NYSE

Website

www.cloudflare.com/

CEO

Matthew Prince

Incorporated

Delaware

Location

California

Fiscal year end

Dec 31

Sector

Information > Software Publishers

Industry (SIC)

Services - Prepackaged Software

Microsoft • Oracle • Mobileye Global • Activision Blizzard • Gen Digital • Vmware • Adobe • Salesforce • BlackBerry • Ceridian HCM Holding ...

SEC CIK

0001477333

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

IRS number

270805829

NET stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$77.50

Low target

$75.00

High target

$80.00

Latest filings (excl ownership)

View all

3 Aug 23

Cloudflare Announces Second Quarter 2023 Financial Results

3 Aug 23

8-K

Submission of Matters to a Vote of Security Holders

27 Apr 23

Cloudflare Announces First Quarter 2023 Financial Results

27 Apr 23

ARS

2022 FY

Annual report to shareholders

20 Apr 23

DEFA14A

Additional proxy soliciting materials

20 Apr 23

Registration of securities for employees

24 Feb 23

Transcripts

View all

NET

Earnings call transcript

2023 Q2

3 Aug 23

NET

Earnings call transcript

2023 Q1

27 Apr 23

NET

Earnings call transcript

2022 Q4

9 Feb 23

NET

Earnings call transcript

2022 Q3

4 Nov 22

NET

Earnings call transcript

2022 Q2

5 Aug 22

NET

Earnings call transcript

2022 Q1

6 May 22

NET

Earnings call transcript

2021 Q4

11 Feb 22

NET

Earnings call transcript

2021 Q3

5 Nov 21

NET

Earnings call transcript

2021 Q2

6 Aug 21

NET

Earnings call transcript

2021 Q1

7 May 21

Latest ownership filings

View all

Notice of proposed sale of securities

Notice of proposed sale of securities

5 Sep 23

Douglas James Kramer

5 Sep 23

Financial summary

Financial statements Chart NET financial data

Quarter (USD)	Jun 23	Mar 23	Dec 22	Sep 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	164.38 mm	164.38 mm	164.38 mm	164.38 mm	164.38 mm	164.38 mm
Cash burn (monthly)	34.68 mm	(no burn)	31.00 mm	19.74 mm	(no burn)	(no burn)
Cash used (since last report)	102.62 mm	n/a	91.73 mm	58.41 mm	n/a	n/a
Cash remaining	61.75 mm	n/a	72.65 mm	105.96 mm	n/a	n/a
Runway (months of cash)	1.8	n/a	2.3	5.4	n/a	n/a

Beta Read what these cash burn values mean

Financial data from Cloudflare earnings reports.

Institutional ownership, Q2 2023

NET institutional ownership history Ownership history

92.9% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	541	558	-3.0%
Opened positions	68	81	-16.0%
Closed positions	85	68	+25.0%
Increased positions	184	206	-10.7%
Reduced positions	190	167	+13.8%

13F shares	Current	Prev Q	Change
Total value	15.88 tn	14.81 tn	+7.3%
Total shares	271.77 mm	269.05 mm	+1.0%
Total puts	6.39 mm	5.87 mm	+8.8%
Total calls	6.91 mm	5.49 mm	+25.9%
Total put/call ratio	0.9	1.1	-13.5%

Largest owners	Shares	Value	Change
MS Morgan Stanley	32.12 mm	$2.10 tn	-0.7%
Baillie Gifford & Co	31.51 mm	$2.06 tn	+22.5%
Vanguard	27.02 mm	$1.77 tn	+2.7%
Capital World Investors	26.43 mm	$1.73 tn	+56.7%
BLK Blackrock	15.84 mm	$1.04 tn	+0.8%
Venrock Associates V	14.80 mm	$1.12 bn	0.0%
FMR	13.22 mm	$863.95 bn	-20.6%
New Enterprise Associates 13	13.16 mm	$1.00 bn	0.0%
Sands Capital Management	11.40 mm	$745.52 bn	-22.2%
Voya Investment Management	6.46 mm	$422.14 bn	+28.4%

Largest transactions	Shares	Bought/sold	Change
Capital World Investors	26.43 mm	+9.56 mm	+56.7%
Baillie Gifford & Co	31.51 mm	+5.79 mm	+22.5%
FMR	13.22 mm	-3.42 mm	-20.6%
Sands Capital Management	11.40 mm	-3.26 mm	-22.2%
Marshall Wace	0.00	-2.21 mm	EXIT
1832 Asset Management	0.00	-1.89 mm	EXIT
JPM JPMorgan Chase & Co.	1.97 mm	+1.71 mm	+677.1%
LGEN Legal & General	3.27 mm	+1.71 mm	+109.5%
Lord, Abbett & Co.	0.00	-1.55 mm	EXIT
Voya Investment Management	6.46 mm	+1.43 mm	+28.4%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

NET insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
21 Sep 23	Zatlyn Michelle	Class A Common Stock	Sell	Dispose S	Yes	Yes	58.2807	2,564	149.43 k	0
21 Sep 23	Zatlyn Michelle	Class A Common Stock	Conversion	Acquire C	Yes	No	0	2,564	0.00	2,564
21 Sep 23	Zatlyn Michelle	Class A Common Stock	Sell	Dispose S	Yes	Yes	58.2807	10,256	597.73 k	19,378
21 Sep 23	Zatlyn Michelle	Class A Common Stock	Conversion	Acquire C	Yes	No	0	10,256	0.00	29,634
21 Sep 23	Zatlyn Michelle	Class B Common Stock Class A Common Stock	Conversion	Dispose C	Yes	No	0	2,564	0.00	1,499,360
21 Sep 23	Zatlyn Michelle	Class B Common Stock Class A Common Stock	Conversion	Dispose C	No	No	0	10,256	0.00	0
21 Sep 23	Zatlyn Michelle	Class B Common Stock Class A Common Stock	Option exercise	Acquire M	No	No	0	10,256	0.00	10,256
21 Sep 23	Zatlyn Michelle	Employee Stock Option Class B Common Stock	Option exercise	Dispose M	No	No	2.04	10,256	20.92 k	3,692,292
20 Sep 23	Ledbetter Carl	Class A Common Stock	Sell	Dispose S	Yes	Yes	60.0829	8,030	482.47 k	1,800,608
20 Sep 23	Zatlyn Michelle	Class A Common Stock	Sell	Dispose S	Yes	Yes	59.8798	2,564	153.53 k	0