National Pension Service Has $235.47 Million Holdings in Cloudflare, Inc. $NET

National Pension Service boosted its holdings in Cloudflare, Inc. (NYSE:NET) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 959,987 shares of the company’s stock after acquiring an additional 15,546 shares during the quarter. National Pension Service owned 0.27% of Cloudflare worth $235,466,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lingotto Investment Management LLP bought a new stake in Cloudflare in the 4th quarter worth about $34,626,000. Jupiter Asset Management Ltd. lifted its position in shares of Cloudflare by 1,984.7% during the 4th quarter. Jupiter Asset Management Ltd. now owns 197,710 shares of the company’s stock worth $38,979,000 after buying an additional 188,226 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Cloudflare by 17.6% in the 1st 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 last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Cloudflare in the 4th quarter worth approximately $5,543,000. Finally, Insight Holdings Group LLC bought a new position in shares of Cloudflare in the first quarter valued at approximately $6,768,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Ratings Changes

NET has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price target on Cloudflare from $290.00 to $346.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. New Street Research reissued a “market outperform” rating on shares of Cloudflare in a research report on Monday, June 15th. Raymond James Financial started coverage on Cloudflare in a research report on Tuesday, July 7th. They set a “strong-buy” rating for the company. Mizuho lifted their target price on Cloudflare from $260.00 to $310.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Finally, Citigroup reissued a “market outperform” rating on shares of Cloudflare in a report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cloudflare currently has an average rating of “Moderate Buy” and an average target price of $320.19.

Key Headlines Impacting Cloudflare

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Cloudflare’s large-customer momentum remains a key growth driver. Rising customer spending, strong retention and increased adoption of multiple products are supporting revenue expansion and could improve the company’s ability to monetize its platform. Can Large-Customer Gains Remain a Key Driver of NET’s Revenue Growth?
• Positive Sentiment: Investor enthusiasm was fueled by Cloudflare’s reported AI-security collaboration with OpenAI, which is viewed as marquee validation of the company’s positioning in agentic AI and cybersecurity. The service reportedly integrates OpenAI’s cyber models with Cloudflare’s infrastructure. Cloudflare Surges on OpenAI Security Partnership
• Positive Sentiment: At the Goldman Sachs Communacopia conference, management offered an upbeat outlook, saying Cloudflare’s potential opportunity could be “much larger” than its current business. Continued demand tied to AI agents and digital security is reinforcing the bullish narrative. Cloudflare Soars on Upbeat Outlook
• Neutral Sentiment: The recent rally has left Cloudflare trading near its 52-week high, with a market capitalization above $110 billion and a very elevated valuation. Analysts remain broadly positive, including price targets above the current level, but the stock is increasingly sensitive to any slowdown in growth or weaker AI-related execution. Cloudflare Stock Analysis
• Negative Sentiment: Insider Michelle Zatlyn sold 33,003 shares worth approximately $9.2 million under a pre-arranged Rule 10b5-1 plan. While scheduled sales do not necessarily signal deteriorating fundamentals, the reduction in her direct holdings adds a modest sentiment headwind after the stock’s rapid advance. Cloudflare Insider Selling

Insiders Place Their Bets

In other news, insider Michelle Zatlyn sold 33,003 shares of Cloudflare stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $277.43, for a total value of $9,156,022.29. Following the completion of the transaction, the insider owned 69,775 shares in the company, valued at $19,357,678.25. This trade represents a 32.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, Director John Graham-Cumming sold 2,520 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $303.97, for a total transaction of $766,004.40. Following the completion of the sale, the director directly owned 494,909 shares in the company, valued at approximately $150,437,488.73. This trade represents a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 706,244 shares of company stock worth $186,761,866 in the last ninety days. 10.66% of the stock is owned by corporate insiders.

Cloudflare Price Performance

Shares of NYSE NET opened at $311.44 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.22. The stock has a fifty day simple moving average of $284.64 and a two-hundred day simple moving average of $238.46. Cloudflare, Inc. has a 1-year low of $158.83 and a 1-year high of $332.22. The firm has a market cap of $110.09 billion, a price-to-earnings ratio of -536.97, a price-to-earnings-growth ratio of 256.82 and a beta of 1.66.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $696.06 million for the quarter, compared to analyst estimates of $664.66 million. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The business’s revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. Analysts anticipate that Cloudflare, Inc. will post 0.03 earnings per share for the current year.

Cloudflare Profile

Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.

The company’s offerings include content delivery and domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.