28,114 Shares in Cloudflare, Inc. $NET Acquired by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans opened a new position in Cloudflare, buying 28,114 shares valued at about $5.54 million in the fourth quarter.
• Cloudflare’s latest earnings topped expectations, with EPS of $0.25 and revenue of $639.76 million, up 33.5% year over year, though the company remains unprofitable.
• Analyst sentiment remains broadly positive despite some mixed views, with a Moderate Buy consensus and several firms raising or maintaining high price targets around the stock.

Thrivent Financial for Lutherans acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,114 shares of the company's stock, valued at approximately $5,543,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Cloudflare by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 32,407,646 shares of the company's stock worth $6,389,167,000 after buying an additional 90,397 shares in the last quarter. Invesco Ltd. boosted its stake in Cloudflare by 1.3% in the third quarter. Invesco Ltd. now owns 3,964,733 shares of the company's stock valued at $850,792,000 after buying an additional 49,485 shares in the last quarter. Groupama Asset Managment grew its position in Cloudflare by 82.6% in the third quarter. Groupama Asset Managment now owns 2,100,000 shares of the company's stock valued at $450,639,000 after acquiring an additional 950,000 shares during the last quarter. Northern Trust Corp raised its stake in Cloudflare by 1.2% during the third quarter. Northern Trust Corp now owns 1,909,120 shares of the company's stock worth $409,678,000 after acquiring an additional 21,715 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Cloudflare by 802.6% during the fourth quarter. Jennison Associates LLC now owns 1,863,612 shares of the company's stock worth $367,411,000 after acquiring an additional 1,657,144 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Analysts Set New Price Targets

NET has been the topic of a number of research analyst reports. Needham & Company LLC reduced their price target on shares of Cloudflare from $285.00 to $250.00 and set a "buy" rating on the stock in a research note on Wednesday, February 11th. Guggenheim increased their price target on Cloudflare from $117.00 to $140.00 and gave the company a "sell" rating in a research note on Wednesday, February 11th. Piper Sandler restated an "overweight" rating and set a $250.00 price objective (up from $222.00) on shares of Cloudflare in a research report on Friday, May 8th. Stifel Nicolaus set a $260.00 target price on Cloudflare in a report on Friday, May 8th. Finally, Citigroup initiated coverage on Cloudflare in a report on Wednesday, April 15th. They set a "buy" rating on the stock. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $236.68.

Trending Headlines about Cloudflare

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Cloudflare’s partnership with Anthropic to launch Cloudflare Environments for Claude Managed Agents is being viewed as a meaningful step into AI infrastructure, which could support future revenue growth and broader platform adoption. Cloudflare (NET) Stock Trades Up, Here Is Why
• Positive Sentiment: Recent coverage continues to frame Cloudflare as an AI and big-data beneficiary, with sector interest in cloud and cybersecurity names helping sentiment around the stock. Invest in These 5 Big Data Behemoths to Gain From Wall Street Rally
• Neutral Sentiment: Cloudflare’s latest earnings report was solid, beating estimates on both EPS and revenue, but the market reaction has been mixed as investors weigh strong growth against ongoing losses and rich valuation.
• Neutral Sentiment: Several analysts remain constructive overall, with a consensus Moderate Buy rating, though opinions are still split and some firms continue to advise caution.
• Negative Sentiment: CEO Matthew Prince and CAO Janel Riley both filed stock sales, and CFO Thomas J. Seifert also sold shares. Even though these were pre-planned 10b5-1 transactions, insider selling can still create short-term pressure on the stock.

Cloudflare Stock Up 1.1%

Shares of NYSE:NET opened at $212.47 on Friday. The firm has a market cap of $75.10 billion, a P/E ratio of -849.88 and a beta of 1.67. Cloudflare, Inc. has a 12-month low of $154.93 and a 12-month high of $260.00. The business has a fifty day simple moving average of $207.63 and a 200 day simple moving average of $199.23. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.The firm had revenue of $639.76 million for the quarter, compared to analyst estimates of $620.83 million. During the same quarter in the previous year, the company posted $0.16 EPS. The business's 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.

Insiders Place Their Bets

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $189.50, for a total transaction of $4,858,969.50. Following the transaction, the insider directly owned 34,514 shares in the company, valued at approximately $6,540,403. This represents a 42.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $173.78, for a total transaction of $9,103,291.52. Following the transaction, the chief executive officer owned 22,911 shares in the company, valued at $3,981,473.58. The trade was a 69.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 655,550 shares of company stock valued at $131,181,924 in the last three months. 10.89% of the stock is owned by insiders.

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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