Alyeska Investment Group L.P. Purchases New Position in Cloudflare, Inc. $NET

Alyeska Investment Group L.P. purchased a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 308,200 shares of the company's stock, valued at approximately $75,595,000. Alyeska Investment Group L.P. owned approximately 0.09% of Cloudflare as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NET. Geode Capital Management LLC increased its stake in shares of Cloudflare by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 6,018,175 shares of the company's stock valued at $1,184,044,000 after buying an additional 241,981 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Cloudflare by 135.8% in the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company's stock worth $906,758,000 after acquiring an additional 2,530,872 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Cloudflare by 1.6% in the fourth quarter. First Trust Advisors LP now owns 4,019,157 shares of the company's stock worth $792,377,000 after acquiring an additional 63,198 shares during the last quarter. Invesco Ltd. raised its stake in shares of Cloudflare by 1.3% in the third quarter. Invesco Ltd. now owns 3,964,733 shares of the company's stock worth $850,792,000 after acquiring an additional 49,485 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Cloudflare during the fourth quarter worth approximately $718,316,000. 82.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on NET. Needham & Company LLC increased their price target on shares of Cloudflare from $280.00 to $380.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Scotiabank increased their price objective on Cloudflare from $300.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Wells Fargo & Company lifted their target price on Cloudflare from $300.00 to $380.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Mizuho boosted their target price on Cloudflare from $260.00 to $310.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Finally, DZ Bank downgraded Cloudflare from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $320.19.

Insiders Place Their Bets

In other Cloudflare news, insider Michelle Zatlyn sold 33,003 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $294.63, for a total value of $9,723,673.89. Following the completion of the transaction, the insider directly owned 69,775 shares of the company's stock, valued at approximately $20,557,808.25. The trade was a 32.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,422 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $249.09, for a total value of $13,057,795.98. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 640,531 shares of company stock worth $168,474,753. Corporate insiders own 10.66% of the company's stock.

Cloudflare Stock Down 2.8%

Shares of NYSE NET opened at $299.69 on Friday. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $332.22. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market cap of $105.93 billion, a P/E ratio of -516.71, a P/E/G ratio of 184.12 and a beta of 1.65. The firm has a 50 day moving average price of $274.42 and a 200 day moving average price of $231.62.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The company had revenue of $696.06 million for the quarter, compared to analysts' expectations of $664.66 million. During the same period last year, the firm posted $0.21 earnings per share. The business's quarterly revenue was up 35.9% compared to the same quarter last year. 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 expect that Cloudflare, Inc. will post 0.03 EPS for the current year.

Cloudflare 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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