Arrowstreet Capital Limited Partnership Has $101.05 Million Position in Cloudflare, Inc. $NET

Key Points

• Arrowstreet Capital boosted its Cloudflare stake by 13.4% in the fourth quarter, ending with 512,554 shares worth about $101.05 million.
• Cloudflare shares were up 2.8%, and the stock has traded between a $158.83 1-year low and $276.82 1-year high. The company’s market cap is about $83.02 billion.
• Cloudflare beat quarterly expectations, posting $0.25 EPS on $639.76 million in revenue, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $241.35.

Arrowstreet Capital Limited Partnership increased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 512,554 shares of the company's stock after acquiring an additional 60,605 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.15% of Cloudflare worth $101,050,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NET. HM Payson & Co. acquired a new stake in Cloudflare during the fourth quarter valued at approximately $25,000. Wiser Advisor Group LLC bought a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $26,000. Wexford Capital LP acquired a new position in shares of Cloudflare in the 3rd quarter worth approximately $30,000. Ameriflex Group Inc. lifted its position in shares of Cloudflare by 105.6% during the 3rd quarter. Ameriflex Group Inc. now owns 148 shares of the company's stock worth $32,000 after buying an additional 76 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Cloudflare by 55.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company's stock worth $34,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Trading Up 2.8%

NYSE:NET opened at $234.88 on Tuesday. Cloudflare, Inc. has a 1-year low of $158.83 and a 1-year high of $276.82. The business's 50-day moving average price is $216.57 and its two-hundred day moving average price is $202.00. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $83.02 billion, a price-to-earnings ratio of -939.51, a PEG ratio of 481.14 and a beta of 1.70.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $639.76 million for the quarter, compared to analyst estimates of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. Cloudflare's quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. On average, equities analysts expect that Cloudflare, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NET shares. Truist Financial upped their price target on Cloudflare from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Sanford C. Bernstein reissued a "market perform" rating and set a $136.00 price objective on shares of Cloudflare in a report on Wednesday, June 10th. Mizuho boosted their target price on shares of Cloudflare from $235.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday, June 10th. Piper Sandler reaffirmed an "overweight" rating on shares of Cloudflare in a report on Wednesday, June 10th. Finally, Citizens Jmp reiterated a "market outperform" rating and set a $270.00 target price on shares of Cloudflare in a research report on Monday. Twenty-one 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $241.35.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $210.66, for a total value of $11,035,213.44. Following the completion of the sale, the chief executive officer directly owned 25,550 shares in the company, valued at $5,382,363. This represents a 67.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katrin Suder sold 293 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $252.92, for a total value of $74,105.56. Following the sale, the director directly owned 37,430 shares in the company, valued at approximately $9,466,795.60. This represents a 0.78% 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. Insiders have sold a total of 465,059 shares of company stock worth $98,655,975 in the last three months. 10.66% of the stock is owned by insiders.

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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