Cloudflare, Inc. $NET Shares Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management sharply boosted its Cloudflare stake by 1,984.7% in the fourth quarter, ending with 197,710 shares valued at about $39 million.
• Insider selling has been notable, including sales by Michelle Zatlyn and CEO Matthew Prince, with insiders selling 585,862 shares worth about $122 million over the last 90 days.
• Cloudflare beat earnings and revenue estimates in its latest quarter, posting $0.25 EPS on $639.76 million in revenue, while analysts maintain a Moderate Buy consensus with an average price target of $236.68.

Jupiter Asset Management Ltd. lifted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 1,984.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,710 shares of the company's stock after acquiring an additional 188,226 shares during the period. Jupiter Asset Management Ltd. owned about 0.06% of Cloudflare worth $38,979,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NET. Empowered Funds LLC raised its position in shares of Cloudflare by 34.2% during the 1st quarter. Empowered Funds LLC now owns 6,656 shares of the company's stock valued at $750,000 after acquiring an additional 1,696 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Cloudflare during the 2nd quarter valued at approximately $424,000. Cerity Partners LLC raised its position in shares of Cloudflare by 30.1% during the 2nd quarter. Cerity Partners LLC now owns 27,531 shares of the company's stock valued at $5,391,000 after acquiring an additional 6,363 shares in the last quarter. Sei Investments Co. raised its position in shares of Cloudflare by 40.1% during the 2nd quarter. Sei Investments Co. now owns 329,036 shares of the company's stock valued at $64,432,000 after acquiring an additional 94,112 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Cloudflare by 14.6% in the second quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company's stock worth $3,224,000 after buying an additional 2,093 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Michelle Zatlyn sold 35,080 shares of the firm'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 transaction, the insider owned 47,425 shares of the company's stock, valued at $10,148,001.50. This trade represents a 42.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $209.08, for a total value of $10,952,446.72. The SEC filing for this sale provides additional information. Insiders have sold 585,862 shares of company stock valued at $121,988,011 in the last ninety days. Company insiders own 10.89% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NET shares. Wells Fargo & Company increased their target price on Cloudflare from $265.00 to $270.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 11th. DZ Bank raised Cloudflare from a "hold" rating to a "buy" rating and set a $215.00 target price on the stock in a research report on Friday, February 13th. Citigroup started coverage on Cloudflare in a research report on Wednesday, April 15th. They issued a "buy" rating on the stock. KeyCorp lowered Cloudflare from an "overweight" rating to a "hold" rating in a research report on Wednesday, April 15th. Finally, Needham & Company LLC dropped their target price on Cloudflare from $285.00 to $250.00 and set a "buy" rating on the stock in a research report on Wednesday, February 11th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $236.68.

Cloudflare Trading Up 9.0%

NYSE:NET opened at $227.98 on Friday. Cloudflare, Inc. has a 1 year low of $158.83 and a 1 year high of $260.00. The stock has a market cap of $80.58 billion, a price-to-earnings ratio of -911.92 and a beta of 1.67. The business has a fifty day moving average of $208.24 and a 200-day moving average of $198.67. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, beating 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 business had revenue of $639.76 million during the quarter, compared to analysts' expectations of $620.83 million. During the same quarter last year, the business posted $0.16 earnings per share. The company'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.

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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