Amova Asset Management Americas Inc. Sells 75,198 Shares of Cloudflare, Inc. $NET

Amova Asset Management Americas Inc. reduced its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 452,103 shares of the company's stock after selling 75,198 shares during the quarter. Amova Asset Management Americas Inc. owned approximately 0.13% of Cloudflare worth $89,123,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NET. Motley Fool Asset Management LLC raised its holdings in shares of Cloudflare by 35.7% during the 4th quarter. Motley Fool Asset Management LLC now owns 32,638 shares of the company's stock valued at $6,435,000 after buying an additional 8,586 shares in the last quarter. Strategic Advocates LLC boosted its stake in Cloudflare by 6,760.0% in the fourth quarter. Strategic Advocates LLC now owns 343 shares of the company's stock worth $68,000 after buying an additional 338 shares in the last quarter. Fiera Capital Corp boosted its stake in Cloudflare by 34.0% in the fourth quarter. Fiera Capital Corp now owns 123,414 shares of the company's stock worth $24,331,000 after buying an additional 31,298 shares in the last quarter. IMA Advisory Services Inc. boosted its stake in Cloudflare by 4.5% in the fourth quarter. IMA Advisory Services Inc. now owns 1,290 shares of the company's stock worth $254,000 after buying an additional 55 shares in the last quarter. Finally, Krane Funds Advisors LLC boosted its stake in Cloudflare by 12.3% in the fourth quarter. Krane Funds Advisors LLC now owns 7,554 shares of the company's stock worth $1,489,000 after buying an additional 826 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Trading Down 4.8%

NYSE:NET opened at $235.88 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.29. Cloudflare, Inc. has a 12 month low of $158.83 and a 12 month high of $276.82. The company has a market cap of $83.38 billion, a PE ratio of -943.50, a price-to-earnings-growth ratio of 4,156.04 and a beta of 1.70. The company has a 50 day simple moving average of $214.74 and a two-hundred day simple moving average of $201.01.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data 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 return on equity of 5.65% and a negative net margin of 3.72%.The company had revenue of $639.76 million during the quarter, compared to analyst estimates of $620.83 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. Cloudflare's revenue was up 33.5% compared to the same quarter last year. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS.

Analyst Ratings Changes

Several research firms recently issued reports on NET. Susquehanna raised their price target on Cloudflare from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Robert W. Baird set a $260.00 price target on Cloudflare and gave the stock an "outperform" rating in a research report on Wednesday, February 11th. Morgan Stanley restated an "overweight" rating and set a $305.00 price target on shares of Cloudflare in a research report on Thursday, June 4th. Piper Sandler restated an "overweight" rating and set a $250.00 price target (up from $222.00) on shares of Cloudflare in a research report on Friday, May 8th. Finally, Guggenheim raised their price target on Cloudflare from $117.00 to $140.00 and gave the stock a "sell" rating in a research report on Wednesday, February 11th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $239.08.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $210.02, for a total transaction of $11,001,687.68. The sale was disclosed in a filing with the SEC, which can be accessed through 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 the company's stock in a transaction that occurred on 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 directly owned 47,425 shares in the company, valued at approximately $10,148,001.50. This represents a 42.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 527,784 shares of company stock valued at $111,803,817. Corporate insiders own 10.89% of the company's stock.

About Cloudflare

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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