Cloudflare, Inc. $NET Shares Purchased by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its Cloudflare stake by 21.1% in Q1, ending with 70,363 shares valued at about $14.5 million.
• Cloudflare reported a solid quarter, with revenue of $639.75 million beating expectations and EPS of $0.25 topping estimates; the company also raised full-year and Q2 guidance.
• Analysts remain generally positive on the stock, with an average rating of “Moderate Buy” and an average price target of $241.35, while several insiders recently sold shares under pre-arranged trading plans.

QRG Capital Management Inc. boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,363 shares of the company's stock after acquiring an additional 12,254 shares during the period. QRG Capital Management Inc.'s holdings in Cloudflare were worth $14,519,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. HM Payson & Co. purchased a new stake in shares of Cloudflare in the fourth quarter valued at approximately $25,000. Wiser Advisor Group LLC purchased a new position in Cloudflare during the third quarter worth approximately $26,000. Wexford Capital LP purchased a new position in Cloudflare during the third quarter worth approximately $30,000. Ameriflex Group Inc. lifted its position in Cloudflare by 105.6% during the third quarter. Ameriflex Group Inc. now owns 148 shares of the company's stock worth $32,000 after buying an additional 76 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Cloudflare by 55.4% during the third 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 last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Activity

In other Cloudflare news, Director John Graham-Cumming sold 2,520 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $235.95, for a total transaction of $594,594.00. Following the completion of the transaction, the director owned 494,067 shares of the company's stock, valued at $116,575,108.65. This trade represents a 0.51% 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, insider Michelle Zatlyn sold 25,641 shares of Cloudflare stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $219.11, for a total transaction of $5,618,199.51. Following the sale, the insider owned 47,425 shares of the company's stock, valued at approximately $10,391,291.75. This represents a 35.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 566,245 shares of company stock worth $121,343,833. 10.66% of the stock is currently owned by corporate insiders.

Cloudflare Trading Down 0.1%

Shares of Cloudflare stock opened at $242.14 on Friday. The firm has a market capitalization of $85.59 billion, a price-to-earnings ratio of -968.56, a PEG ratio of 244.14 and a beta of 1.67. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $276.82. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a 50 day moving average of $226.09 and a 200 day moving average of $204.88.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share (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 $639.75 million during the quarter, compared to analysts' expectations of $620.83 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm's quarterly 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. As a group, research analysts predict that Cloudflare, Inc. will post 0.02 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Cantor Fitzgerald restated a "neutral" rating and issued a $230.00 target price (up from $224.00) on shares of Cloudflare in a report on Wednesday, June 10th. Citizens Jmp reiterated a "market outperform" rating and set a $270.00 price target on shares of Cloudflare in a report on Monday, June 15th. Susquehanna boosted their price target on shares of Cloudflare from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. KeyCorp reissued an "overweight" rating on shares of Cloudflare in a report on Wednesday, June 10th. Finally, Needham & Company LLC raised their price objective on shares of Cloudflare from $250.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Twenty-one investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Cloudflare presently has an average rating of "Moderate Buy" and an average price target of $241.35.

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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