Jennison Associates LLC Has $906.76 Million Stock Holdings in Cloudflare, Inc. $NET

Jennison Associates LLC lifted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 135.8% in the first quarter, Holdings Channel.com reports. The fund owned 4,394,484 shares of the company’s stock after acquiring an additional 2,530,872 shares during the quarter. Jennison Associates LLC’s holdings in Cloudflare were worth $906,758,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Lingotto Investment Management LLP acquired a new stake in Cloudflare during the 4th quarter valued at approximately $34,626,000. Trek Financial LLC acquired a new position in shares of Cloudflare in the 4th quarter worth approximately $1,793,000. Jupiter Asset Management Ltd. boosted its stake in shares of Cloudflare by 1,984.7% in the 4th quarter. Jupiter Asset Management Ltd. now owns 197,710 shares of the company’s stock valued at $38,979,000 after purchasing an additional 188,226 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Cloudflare by 25.8% in the 4th 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 during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in shares of Cloudflare by 17.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company’s stock worth $284,900,000 after buying an additional 206,506 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Key Cloudflare News

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Morgan Stanley raised its price target on Cloudflare from $305 to $322 and reiterated an overweight rating, signaling stronger confidence in the company’s upside. This kind of analyst upgrade can help support the stock. Morgan Stanley price target increase on Cloudflare
• Positive Sentiment: Cloudflare launched Precursor, a new bot-management product designed to detect sophisticated automated attacks in real time. The launch reinforces the company’s cybersecurity and privacy narrative, which is a key driver of investor optimism. Cloudflare launches Precursor
• Positive Sentiment: Recent commentary continues to highlight Cloudflare as a beneficiary of rising demand for cybersecurity and AI infrastructure, and the stock has also been mentioned favorably in momentum-stock and “best cybersecurity stocks” roundups. Cloudflare momentum stock article
• Neutral Sentiment: Other recent articles emphasize Cloudflare’s strong three-year run and rising fair-value estimates, but also note that the shares already trade at a rich valuation. That may limit near-term upside if growth does not keep accelerating. Cloudflare valuation article
• Neutral Sentiment: The stock also got a “gains as market dips” mention, reflecting relative strength versus the broader market rather than a company-specific catalyst. Cloudflare gains as market dips article

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 52,422 shares of Cloudflare stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $249.09, for a total transaction of $13,057,795.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 35,080 shares of Cloudflare stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $213.98, for a total value of $7,506,418.40. Following the transaction, the insider owned 47,425 shares of the company’s stock, valued at $10,148,001.50. This trade represents a 42.52% decrease in their position. 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. In the last ninety days, insiders sold 616,185 shares of company stock worth $137,831,055. 10.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NET shares. KeyCorp restated an “overweight” rating on shares of Cloudflare in a report on Wednesday, June 10th. Jefferies Financial Group downgraded Cloudflare from a “buy” rating to a “hold” rating in a report on Tuesday, July 7th. New Street Research reissued a “market outperform” rating on shares of Cloudflare in a research report on Monday, June 15th. BTIG Research boosted their price objective on Cloudflare from $269.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Barclays upped their target price on Cloudflare from $250.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $253.41.

Cloudflare Stock Performance

NET opened at $277.84 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.29. The company’s fifty day moving average price is $236.36 and its two-hundred day moving average price is $209.95. Cloudflare, Inc. has a 1-year low of $158.83 and a 1-year high of $291.00. The company has a market cap of $98.21 billion, a price-to-earnings ratio of -1,111.37, a PEG ratio of 283.00 and a beta of 1.67.

Cloudflare (NYSE:NET) last released 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 firm had revenue of $639.75 million for the quarter, compared to analyst estimates of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period last year, the firm 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. On average, analysts expect that Cloudflare, Inc. will post 0.02 EPS for the current fiscal year.

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.