Steven Cohen's Point72 Asset Management liquidated its entire holding in the web infrastructure and security company Cloudflare (NET) during the second quarter of 2026. The firm sold all of its 428,980 shares, a position valued at approximately $88.52 million at the end of the prior quarter. The trades occurred as Cloudflare announced strong Q2 revenue growth but also a significant net loss and substantial restructuring charges.
This transaction was revealed in a quarterly 13F filing on August 14, 2026, which discloses the firm's holdings as of June 30. As is typical with these filings, there is a delay between when the trades are executed and when they become public knowledge. Despite a wider GAAP net loss, Cloudflare's revenue for the quarter beat analyst expectations, and the company raised its full-year guidance.