State of Michigan Retirement System 13F: Cuts NET Stake by $4.9M
Key Points
- The State of Michigan Retirement System reduced its holdings in Cloudflare by 14,100 shares, a 48.0% decrease, in a filing dated October 27, 2026.
- State of Michigan Retirement System held 15,254 $NET shares at quarter end, down 48.03% from the prior quarter.
- Cloudflare's stock closed at $327.80 on the filing date and was recently trading at about $327.81, remaining around 11.5% below its 52-week high of $370.35.
- Given the fund's reported value of $11 billion, the Cloudflare position makes up 0.05% of its total portfolio.
Get Cloudflare text alerts
We text you when insiders, Congress, analysts or big funds move on $NET.
By entering your mobile number and tapping the sign-up button, you provide express written consent to receive recurring automated text messages from TradeTexts at that number, including stock alerts about SEC filings, insider and congress trades, analyst ratings, hedge fund moves, and earnings results. Consent is not a condition of any purchase. Message frequency varies. Messages are not investment advice. Message and data rates may apply. Reply HELP for help and STOP to opt out at any time. See our Terms and Privacy Policy.
Not investment advice. TradeTexts is not a registered investment adviser, and this automated Cloudflare, Inc. alert may contain errors. Disclosures
On October 27, 2026, the State of Michigan Retirement System cut its position in Cloudflare, Inc. (NET) by 14,100 shares, leaving it with 15,254 shares valued at approximately $5.3 million. This information comes from the fund's latest Form 13F filing with the SEC.
The fund's reported value for this position decreased by about $4.9 million, reflecting a 48.0% decrease in its stake. The fund now holds 0.05% of its total reported 13F value in Cloudflare, ranking it 43rd among its 966 positions.
NET
Cloudflare, Inc.
Other Institutional Activity in Cloudflare, Inc.
Amanah Holdings Trust opened a new position in Cloudflare with 405,992 shares worth about $141 million. Portman Square Capital also increased its holdings by 75,939 shares, totaling 75,939 shares valued at about $26.4 million. Highland Capital Management boosted its stake by 10,450 shares, bringing its total to 14,532 shares valued at approximately $5 million.
Cloudflare, Inc. Stock Up 0.6%
Cloudflare's stock closed at $327.80 on October 27, 2026, and has recently traded around $327.81, which is about equal to the closing price. The shares are currently above their 50-day moving average by 2.6% and significantly above their 52-week low of $158.83, but they remain about 11.5% below the 52-week high of $370.35.
Recent Earnings
Cloudflare reported trailing twelve-month revenue of approximately $2.51 billion, with a year-over-year revenue growth of 35.9%. The next earnings report is expected on November 5, 2026.
Insider Buying and Selling at Cloudflare, Inc.
On October 19, 2026, Chief Financial Officer Thomas Seifert sold 12,500 shares at an average price of about $299.59, totaling approximately $3.7 million. Earlier, on June 17, 2026, he also sold 10,000 shares, while acquiring the same amount on the same day.
Analysts Set New Price Targets
On October 12, 2026, Barclays maintained an Overweight rating on Cloudflare with a price target of $400.00, up from $355.00. Other firms, including BTIG and Oppenheimer, have also maintained their ratings, with price targets of $413.00 and $430.00 respectively.
About Cloudflare, Inc.
Cloudflare, Inc. provides a wide range of cloud services, helping businesses enhance their online security and performance. The recent cuts in their stock position by the State of Michigan Retirement System may reflect broader market trends or adjustments in their investment strategy.
Bottom Line
Investors should watch for Cloudflare's upcoming earnings report on November 5, 2026, as well as any further institutional filings that may provide insights into market sentiment regarding the company. The recent reduction by the State of Michigan Retirement System highlights changes in investment strategies among large funds.
Related Filing Alerts
Source: State of Michigan Retirement System's 13F filing on $NET (Oct 27, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts