When the 180-day lockup period for Cloudflare Inc. (NET) expires on March 11th, pre-IPO shareholders and company insiders will be able to sell more than 46 million currently-restricted shares for the first time. This number of restricted shares outnumbers the 35 million shares trading pursuant to the IPO.
(Source: S-1/A)
Despite recent market volatility, NET's pre-IPO shareholders and company insiders still have a 55% return from IPO. We believe that this substantial return and ongoing volatility in the market might make at least some of these investors eager to cash