Cloudflare president Michelle Zatlyn sells $28.3m in stock

Cloudflare's president, Michelle Zatlyn, divested nearly $28.3 million worth of the company's Class A shares between August 19 and August 21, 2026. Zatlyn, who serves as both president and board co-chair, executed these sales under a pre-approved Rule 10b5-1 trading plan, adopted on February 27, 2026. The company's stock price currently stands at $293.14, having surged 65% over the past six months despite a 7% dip in the previous week.

The sale, which involved 99,009 shares, occurred at varying prices ranging from $274.11 to $300.835 per share. These shares were indirectly held through The Sutherland/Zatlyn Revocable Trust, of which Zatlyn serves as a co-trustee. Prior to this sale, Zatlyn had converted 99,009 Class B shares, acquired through employee stock options, into Class A shares.

Each conversion entailed 33,003 shares daily, which were re-registered and held by the Revocable Trust before being sold. Following the transactions, Zatlyn retains a substantial number of Class B common stock options, amounting to 1,089,099 exercisable shares. She also maintains indirect ownership of millions of Class B shares via various trusts, including her co-trustee role in The Sutherland/Zatlyn Revocable Trust.

For a detailed analysis of Cloudflare's valuation and growth potential, investors can refer to the Pro Research Report, exclusively available on InvestingPro. Meanwhile, Atlassian reported robust Q4 earnings, surpassing analysts' estimates with adjusted EPS at $1.87 and revenue at $1.77 billion, reflecting a 28% year-over-year increase.

Cloud revenue grew by 31% to $1.21 billion, with remaining performance obligations surging 44% to $4.8 billion. Atlassian's first GAAP operating profit in over two years was recorded, with a 12% margin. In response to this strong performance, Bank of America upgraded Atlassian to Buy and raised its price target to $175.