Delta Global Management LP purchased a new position in shares of Cloudflare, Inc. (NYSE:NET – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 31,451 shares of the company’s stock, valued at approximately $6,490,000.
A number of other hedge funds have also bought and sold shares of the company. HM Payson & Co. acquired a new stake in Cloudflare during the fourth quarter valued at approximately $25,000. Wiser Advisor Group LLC acquired a new position in shares of Cloudflare in the 3rd quarter worth approximately $26,000. Wexford Capital LP acquired a new position in shares of Cloudflare in the 3rd quarter worth approximately $30,000. Brown Brothers Harriman & Co. increased its holdings in shares of Cloudflare by 55.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Finally, Rachor Investment Advisory Services LLC bought a new stake in shares of Cloudflare in the 4th quarter valued at approximately $35,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Cloudflare
In related news, CEO Matthew Prince sold 52,422 shares of Cloudflare stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $249.09, for a total transaction of $13,057,795.98. The sale 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, insider Michelle Zatlyn sold 35,080 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $213.98, for a total transaction of $7,506,418.40. Following the completion of the sale, the insider directly owned 47,425 shares of the company’s stock, valued at $10,148,001.50. The trade was 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 three months, insiders sold 564,903 shares of company stock valued at $127,356,194. Company insiders own 10.66% of the company’s stock.
Cloudflare Trading Up 0.2%
Cloudflare (NYSE:NET – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The firm had revenue of $639.75 million during the quarter, compared to analysts’ expectations of $620.83 million. During the same quarter in the prior year, the firm earned $0.16 EPS. Cloudflare’s quarterly revenue was up 33.5% on a year-over-year basis. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. Sell-side analysts anticipate that Cloudflare, Inc. will post 0.03 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have commented on NET. Truist Financial lifted their price objective on shares of Cloudflare from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC increased their target price on shares of Cloudflare from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Citizens Jmp raised their price target on shares of Cloudflare from $270.00 to $330.00 and gave the stock a “market outperform” rating in a research report on Monday, July 20th. Raymond James Financial began coverage on shares of Cloudflare in a report on Tuesday, July 7th. They issued a “strong-buy” rating for the company. Finally, Jefferies Financial Group downgraded shares of Cloudflare from a “buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $261.19.
Read Our Latest Stock Analysis on Cloudflare
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.
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