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We disagree with Wall Street.
Analyst consensus: bullish. Our position: bearish.
Check the factor breakdown for details.
Insider selling: $681,537,172 sold by 10 insiders (30d)
Est. revisions:
+0.0%
(4 up, 18 down in 30d)
Backed by structured data (insider trades, analyst ratings, or filings)
Factor Model (net -1.1)
Factor Model
net -1.1 2.0 / 10
Est. Revisions
+0.0
Insider Activity
+0.0
Momentum
+0.0
Analyst Rev.
-0.9
Narrative Gap
+0.0
AI feature sparks 8% selloff in cybersecurity stock
Watch: Watch whether this 8% drop stabilizes or triggers broader sector capitulation. Net's next earnings call and any management commentary on AI competition will be the real test. If the stock bounces hard within days, it signals the selloff was noise. If it holds lower, expect more pressure until Cloudflare articulates its own AI strategy or demonstrates pricing power.
Cloudflare shares dropped 8% Friday after Anthropic rolled out a new security feature in its Claude AI model. The market's concern is straightforward — AI-powered security tools could cannibalize demand for traditional legacy cybersecurity software. This is a single-day reaction, not a structural shift, but it signals investor worry about technology displacement in the sector.
This move reflects a real but likely overstated threat. Anthropic's new feature targets a narrow security use case within Claude; Cloudflare's value spans DDoS protection, CDN services, WAF, and API security across enterprise infrastructure. One AI feature doesn't replace a full platform. The stock reaction is recency bias, but it reveals where market anxiety sits — investors are trigger-happy on AI disruption trades.
Evidence
7d ago
Piper Sandler up NET: Neutral → Overweight
8d ago
Mizuho main NET: Outperform → Outperform
9d ago
Insider sell by PRINCE MATTHEW (NET): $16,022,375
9d ago
Insider sell by PRINCE MATTHEW (NET): $23,787,834
9d ago
Insider sell by ZATLYN MICHELLE (NET): $13,550,617
9d ago
Insider sell by ZATLYN MICHELLE (NET): $13,408,177
9d ago
Insider sell by PRINCE MATTHEW (NET): $27,620,208
7 older signals
9d ago
Insider sell by PRINCE MATTHEW (NET): $29,926,822
9d ago
Insider sell by ZATLYN MICHELLE (NET): $14,379,449
9d ago
Insider sell by SEIFERT THOMAS J (NET): $12,163,987
9d ago
Insider sell by PRINCE MATTHEW (NET): $30,702,464
9d ago
Insider sell by ZATLYN MICHELLE (NET): $16,699,340
9d ago
Insider sell by PRINCE MATTHEW (NET): $34,870,915
9d ago
Insider sell by ZATLYN MICHELLE (NET): $16,849,792
Fundamentals & Data ▾
Cloudflare, Inc.
Technology · Software - Infrastructure
Mkt Cap
$73B
Beta
1.88
52w Range
$112.12 - $260.00
Short Interest
8.1M 2.85%
Days to Cover
2.2 -5%
Technicals
downtrend
from 52w Hi
-4.0%
1w return
+16.2%
Insiders
selling
0B / 16S
Analysts
bullish
1 up / 0 down
EPS Estimate
$0.23
+0.0% 30d
4up / 18dn
Est. Dispersion
22%
29 analysts
Analyst Target
$232
$135 - $300
Options P/C
0.91
Insider Cluster
strong sell
0B / 9S
Fund Convergence
strong
Two Sigma, Citadel, D.E. Shaw, Renaissance, Bridgewater
Financials
Revenue
$615M +34% YoY
FCF
$99M
Gross Margin
74%
Op Margin
-8%
Momentum:
decelerating
Top Holders
Two Sigma
$461M
Citadel
$439M
D.E. Shaw
$344M
Renaissance
$26M
Bridgewater
$8M
Recent Filings & Data
insider trade
120
net selling
· $681,537,172 sold
10 insiders · 120 transactions (30d)
Recent transactions
SEIFERT THOMAS J · sell · $1,979,757
PRINCE MATTHEW · other
PRINCE MATTHEW · sell · $147,367
HAWKINS MARK J · sell · $27,877
GRAHAM-CUMMING JOHN · sell · $737,203
GRAHAM-CUMMING JOHN · exercise · $112,694
PRINCE MATTHEW · sell · $30,555,701
PRINCE MATTHEW · other
PRINCE MATTHEW · sell · $3,102,156
LEDBETTER CARL · sell · $3,405,750
SEIFERT THOMAS J · sell · $2,195,442
SEIFERT THOMAS J · other
ZATLYN MICHELLE · sell · $13,941,970
ZATLYN MICHELLE · other
RILEY JANEL · sell · $4,433,080
RILEY JANEL · exercise · $1,581,676
RILEY JANEL · sell · $748,800
GRAHAM-CUMMING JOHN · sell · $449,154
HAWKINS MARK J · sell · $22,426
PRINCE MATTHEW · sell · $26,559,683
ZATLYN MICHELLE · sell · $15,943,326
SEIFERT THOMAS J · sell · $7,689,671
SEIFERT THOMAS J · other
GRAHAM-CUMMING JOHN · sell · $436,831
ZATLYN MICHELLE · award
SEIFERT THOMAS J · award
PRINCE MATTHEW · award
RILEY JANEL · award
KRAMER DOUGLAS JAMES · sell · $528,570
HAWKINS MARK J · sell · $23,609
LEDBETTER CARL · sell · $3,167,414
SEIFERT THOMAS J · sell · $1,783,682
ZATLYN MICHELLE · sell · $14,504,407
PRINCE MATTHEW · sell · $30,701,127
GRAHAM-CUMMING JOHN · sell · $504,676
LEDBETTER CARL · sell · $1,216,136
KRAMER DOUGLAS JAMES · sell · $1,786,861
HAWKINS MARK J · sell · $26,653
LEDBETTER CARL · sell · $1,786,141
SUDER KATRIN · sell · $406,200
SEIFERT THOMAS J · sell · $2,016,931
GRAHAM-CUMMING JOHN · sell · $502,425
ZATLYN MICHELLE · sell · $15,888,932
PRINCE MATTHEW · sell · $31,801,472
PRINCE MATTHEW · other
KRAMER DOUGLAS JAMES · sell · $590,509
HAWKINS MARK J · sell · $26,485
ZATLYN MICHELLE · sell · $16,665,788
SEIFERT THOMAS J · sell · $8,069,178
SUDER KATRIN · sell · $398,848
PRINCE MATTHEW · sell · $31,306,971
RILEY JANEL · sell · $685,418
LEDBETTER CARL · sell · $3,119,400
ZATLYN MICHELLE · other
PRINCE MATTHEW · other
KRAMER DOUGLAS JAMES · other
KRAMER DOUGLAS JAMES · other
KRAMER DOUGLAS JAMES · sell · $766,599
KRAMER DOUGLAS JAMES · exercise · $4,590,035
GRAHAM-CUMMING JOHN · sell · $632,096
HAWKINS MARK J · sell · $254,150
SEIFERT THOMAS J · sell · $2,118,137
LEDBETTER CARL · sell · $3,159,809
PRINCE MATTHEW · sell · $34,052,989
PRINCE MATTHEW · sell · $23,625
GRAHAM-CUMMING JOHN · sell · $557,829
ZATLYN MICHELLE · sell · $16,718,699
KRAMER DOUGLAS JAMES · sell · $1,921,310
HAWKINS MARK J · sell · $212,830
ZATLYN MICHELLE · sell · $16,849,792
SEIFERT THOMAS J · sell · $2,276,444
LEDBETTER CARL · sell · $3,358,639
PRINCE MATTHEW · sell · $34,870,915
PRINCE MATTHEW · other
KRAMER DOUGLAS JAMES · sell · $606,304
GRAHAM-CUMMING JOHN · sell · $2,107,518
GRAHAM-CUMMING JOHN · exercise · $113,142
HAWKINS MARK J · sell · $201,600
ZATLYN MICHELLE · sell · $16,699,340
LEDBETTER CARL · sell · $2,935,935
SEIFERT THOMAS J · sell · $7,921,856
PRINCE MATTHEW · sell · $30,702,464
PRINCE MATTHEW · sell · $104,432
ZATLYN MICHELLE · other
PRINCE MATTHEW · other
KRAMER DOUGLAS JAMES · other
KRAMER DOUGLAS JAMES · other
KRAMER DOUGLAS JAMES · sell · $594,663
SEIFERT THOMAS J · sell · $12,163,987
SEIFERT THOMAS J · other
LEDBETTER CARL · sell · $2,997,692
SEIFERT THOMAS J · sell · $8,841,178
SEIFERT THOMAS J · other
ZATLYN MICHELLE · sell · $14,379,449
PRINCE MATTHEW · sell · $29,926,822
KRAMER DOUGLAS JAMES · sell · $1,764,815
LEDBETTER CARL · sell · $2,909,059
SEIFERT THOMAS J · sell · $1,807,588
LEDBETTER CARL · sell · $1,824,806
PRINCE MATTHEW · sell · $27,620,208
PRINCE MATTHEW · other
LEDBETTER CARL · sell · $225,192
ZATLYN MICHELLE · sell · $13,408,177
ZATLYN MICHELLE · other
SUDER KATRIN · award
SUDER KATRIN · sell · $104,576
SANDELL SCOTT D · award
LEDBETTER CARL · award
HAWKINS MARK J · award
KRAMER DOUGLAS JAMES · sell · $498,014
ZATLYN MICHELLE · sell · $13,550,617
ZATLYN MICHELLE · other
SEIFERT THOMAS J · sell · $6,515,117
RILEY JANEL · sell · $539,953
PRINCE MATTHEW · sell · $23,787,834
KRAMER DOUGLAS JAMES · sell · $372,486
SEIFERT THOMAS J · sell · $1,201,354
ZATLYN MICHELLE · sell · $8,376,102
PRINCE MATTHEW · sell · $16,022,375
PRINCE MATTHEW · sell · $33,167,769
analyst rating
2
Piper Sandler
up
→ Overweight
7d ago
15 signals · latest 2d ago
Get alerted when NET changes direction
We'll email you when our AI detects a shift — reversals, insider clusters, filing red flags.