BlackRock Amends Cloudflare Stake, Signals Continued Confidence

Ticker: NET · Form: SC 13G/A · Filed: 2024-01-29T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investing

Related Tickers: NET

TL;DR

**BlackRock still owns Cloudflare stock, signaling they're bullish on NET.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 29, 2024, indicating its ownership of Cloudflare, Inc. Class A Common Stock as of December 31, 2023. This filing is an update to their previous disclosure, confirming their continued significant, but passive, stake in Cloudflare. This matters to investors because BlackRock is a major institutional investor, and their continued holding signals confidence in Cloudflare's long-term prospects, potentially influencing other investors.

Why It Matters

BlackRock's updated filing confirms its substantial, passive investment in Cloudflare, which can be seen as a vote of confidence from one of the world's largest asset managers.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risk or significant change in strategy.

Analyst Insight

Investors should note BlackRock's continued passive ownership as a sign of institutional confidence, but this filing alone doesn't suggest immediate buying or selling action. It's a routine update.

Key Players & Entities

Forward-Looking Statements

FAQ

What type of filing is this document?

This document is an SC 13G/A, which is an amendment to a Schedule 13G, filed under the Securities Exchange Act of 1934.

Who is the reporting person in this filing?

The reporting person is BlackRock Inc., a major institutional investment manager.

What is the subject company of this filing?

The subject company is Cloudflare, Inc., specifically regarding its Class A Common Stock.

What was the 'Date of Event Which Requires Filing of this Statement'?

The date of the event which requires filing of this statement was December 31, 2023.

Under which rule was this Schedule 13G/A filed?

This Schedule 13G/A was filed under Rule 13d-1(b) of the Securities Exchange Act of 1934.

From the Filing

0001086364-24-005566.txt : 20240129 0001086364-24-005566.hdr.sgml : 20240129 20240129172552 ACCESSION NUMBER: 0001086364-24-005566 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240129 DATE AS OF CHANGE: 20240129 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Cloudflare, Inc. CENTRAL INDEX KEY: 0001477333 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 270805829 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-91163 FILM NUMBER: 24574933 BUSINESS ADDRESS: STREET 1: 101 TOWNSEND ST. CITY: SAN FRANCISCO STATE: CA ZIP: 94107 BUSINESS PHONE: 888.993.5273 MAIL ADDRESS: STREET 1: 101 TOWNSEND ST. CITY: SAN FRANCISCO STATE: CA ZIP: 94107 FORMER COMPANY: FORMER CONFORMED NAME: CloudFlare, Inc. DATE OF NAME CHANGE: 20091120 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us18915m1071_012924.txt us18915m1071_012924.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 1) CLOUDFLARE INC CLASS A -------------------------------------------------------- (Name of Issuer) Class A Common Stock -------------------------------------------------------- (Title of Class of Securities) 18915M107 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 18915M107 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 15115637 (6) Shared voting power 0 (7) Sole dispositive power 16649551 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 16649551 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 5.6% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- CLOUDFLARE INC CLASS A Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 101 TOWNSEND ST. SAN FRANCISCO CA 94107 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) A

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