Cloudflare, Inc. $NET Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its position in Cloudflare, Inc. (NYSE:NET) by 21.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 70,363 shares of the company’s stock after buying an additional 12,254 shares during the quarter. QRG Capital Management Inc.’s holdings in Cloudflare were worth $14,519,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Cloudflare during the 4th quarter valued at about $718,316,000. Jennison Associates LLC increased its stake in Cloudflare by 802.6% during the fourth quarter. Jennison Associates LLC now owns 1,863,612 shares of the company’s stock worth $367,411,000 after purchasing an additional 1,657,144 shares during the period. Corient Private Wealth LLC increased its stake in Cloudflare by 4,042.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock worth $275,887,000 after purchasing an additional 1,365,598 shares during the period. Groupama Asset Managment lifted its position in shares of Cloudflare by 82.6% during the third quarter. Groupama Asset Managment now owns 2,100,000 shares of the company’s stock worth $450,639,000 after purchasing an additional 950,000 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Cloudflare by 25.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,639,661 shares of the company’s stock worth $323,259,000 after purchasing an additional 336,768 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Down 0.1%

Shares of Cloudflare stock opened at $242.14 on Friday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $276.82. The company has a market capitalization of $85.59 billion, a P/E ratio of -968.56, a P/E/G ratio of 244.14 and a beta of 1.67. The company has a 50 day moving average of $226.09 and a 200 day moving average of $204.88.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $639.75 million for the quarter, compared to the consensus estimate of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. As a group, research analysts forecast that Cloudflare, Inc. will post 0.02 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other news, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $219.11, for a total value of $5,618,199.51. Following the transaction, the insider owned 47,425 shares in the company, valued at approximately $10,391,291.75. This represents a 35.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $224.30, for a total value of $11,749,731.20. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 566,245 shares of company stock worth $121,343,833 over the last three months. Company insiders own 10.66% of the company’s stock.

Analysts Set New Price Targets

NET has been the subject of a number of research reports. Morgan Stanley restated an “overweight” rating and issued a $305.00 price objective on shares of Cloudflare in a report on Thursday, June 4th. BTIG Research raised their price target on shares of Cloudflare from $243.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Citizens Jmp restated a “market outperform” rating and issued a $270.00 price target on shares of Cloudflare in a research note on Monday, June 15th. Mizuho upped their price objective on Cloudflare from $235.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $136.00 price objective on shares of Cloudflare in a research note on Wednesday, June 10th. Twenty-one analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.35.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.