Geode Capital Management LLC Has $1.18 Billion Stock Position in Cloudflare, Inc. $NET

Geode Capital Management LLC raised its position in shares of Cloudflare, Inc. (NYSE:NET) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,018,175 shares of the company’s stock after purchasing an additional 241,981 shares during the period. Geode Capital Management LLC’s holdings in Cloudflare were worth $1,184,044,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its position in Cloudflare by 322.4% during the third quarter. Allianz Asset Management GmbH now owns 65,182 shares of the company’s stock valued at $13,987,000 after purchasing an additional 49,749 shares in the last quarter. National Pension Service raised its position in Cloudflare by 1.0% during the third quarter. National Pension Service now owns 618,662 shares of the company’s stock valued at $132,759,000 after purchasing an additional 5,939 shares in the last quarter. Trek Financial LLC acquired a new position in Cloudflare during the fourth quarter valued at approximately $1,793,000. Massachusetts Financial Services Co. MA raised its position in Cloudflare by 25.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,639,661 shares of the company’s stock valued at $323,259,000 after purchasing an additional 336,768 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in Cloudflare by 275.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 37,072 shares of the company’s stock valued at $7,348,000 after purchasing an additional 27,202 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NET has been the subject of several research analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $224.00 price objective on shares of Cloudflare in a research report on Wednesday, February 11th. Wells Fargo & Company boosted their price objective on shares of Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Jefferies Financial Group started coverage on shares of Cloudflare in a report on Wednesday, April 15th. They set a “buy” rating for the company. Morgan Stanley set a $245.00 price target on shares of Cloudflare in a report on Wednesday, February 11th. Finally, DZ Bank upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a report on Friday, February 13th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $236.68.

Insiders Place Their Bets

In related news, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $211.83, for a total value of $5,431,533.03. Following the completion of the sale, the insider directly owned 47,425 shares in the company, valued at $10,046,037.75. This represents a 35.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Janel Riley sold 3,481 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $193.32, for a total value of $672,946.92. Following the completion of the sale, the chief accounting officer owned 49,163 shares of the company’s stock, valued at $9,504,191.16. The trade was a 6.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 585,862 shares of company stock valued at $121,988,011 over the last ninety days. 10.89% of the stock is currently owned by corporate insiders.

Cloudflare Stock Up 6.0%

Shares of NYSE:NET opened at $241.82 on Friday. The company has a fifty day moving average of $208.57 and a 200-day moving average of $198.97. The company has a market capitalization of $85.47 billion, a PE ratio of -967.27 and a beta of 1.67. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $260.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $639.76 million during 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 revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS.

Cloudflare Company 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.