The California State Teachers Retirement System (CalSTRS) purchased 114.1 million additional shares of Cloudflare during the second quarter. This acquisition increased the pension fund's stake by more than 24,000%. CalSTRS now holds approximately 32.4% of the company.
A public filing detailed the transaction on September 8, 2026. Cloudflare recently reported quarterly earnings of $0.29 per share. The company generated $696.1 million in revenue, exceeding analyst estimates for both metrics.