Whittier Trust Co. Purchases 28,723 Shares of Cloudflare, Inc. $NET

Whittier Trust Co. increased its position in Cloudflare, Inc. (NYSE:NET) by 9.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 340,968 shares of the company’s stock after acquiring an additional 28,723 shares during the quarter. Cloudflare comprises 0.8% of Whittier Trust Co.’s investment portfolio, making the stock its 27th largest holding. Whittier Trust Co.’s holdings in Cloudflare were worth $72,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock valued at $750,000 after purchasing an additional 1,696 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Cloudflare during the 2nd quarter valued at approximately $424,000. Cerity Partners LLC boosted its holdings in Cloudflare by 30.1% in the 2nd quarter. Cerity Partners LLC now owns 27,531 shares of the company’s stock worth $5,391,000 after buying an additional 6,363 shares during the period. Sei Investments Co. boosted its holdings in Cloudflare by 40.1% in the 2nd quarter. Sei Investments Co. now owns 329,036 shares of the company’s stock worth $64,432,000 after buying an additional 94,112 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Cloudflare by 14.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company’s stock valued at $3,224,000 after buying an additional 2,093 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Trading Down 0.1%

Shares of NET stock opened at $242.14 on Monday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29. The firm has a market cap of $85.59 billion, a P/E ratio of -968.56, a price-to-earnings-growth ratio of 244.14 and a beta of 1.67. The business has a 50-day moving average price of $226.09 and a two-hundred day moving average price of $204.94. Cloudflare, Inc. has a 12-month low of $158.83 and a 12-month high of $276.82.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share 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 analysts’ expectations of $620.83 million. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.Cloudflare’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period last 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. Equities analysts anticipate that Cloudflare, Inc. will post 0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NET shares. Sanford C. Bernstein reissued a “market perform” rating and set a $136.00 target price on shares of Cloudflare in a report on Wednesday, June 10th. Barclays reiterated an “overweight” rating and set a $250.00 price objective on shares of Cloudflare in a research note on Monday, June 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $230.00 target price (up from $224.00) on shares of Cloudflare in a research note on Wednesday, June 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $305.00 target price on shares of Cloudflare in a report on Thursday, June 4th. Finally, Truist Financial upped their price target on Cloudflare from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. 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 company’s stock. According to MarketBeat.com, Cloudflare currently has an average rating of “Moderate Buy” and an average price target of $241.35.

Insider Activity

In other news, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $232.39, for a total value of $2,323,900.00. Following the sale, the chief financial officer directly owned 116,733 shares in the company, valued at approximately $27,127,581.87. This trade represents a 7.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Graham-Cumming sold 2,520 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $235.95, for a total value of $594,594.00. Following the transaction, the director directly owned 494,067 shares in the company, valued at $116,575,108.65. This trade represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 513,861 shares of company stock valued at $110,342,146. Corporate insiders own 10.66% of the company’s stock.

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.