CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $10.32 Million Holdings in Cloudflare, Inc. $NET

Key Points

• Cushing Asset Management boosted its Cloudflare stake by 66.7% in the first quarter, buying 20,000 additional shares and bringing its total holding to 50,000 shares valued at about $10.32 million.
• Wall Street sentiment remains positive, with 21 Buy ratings, 7 Hold ratings, and 3 Sell ratings; Cloudflare’s average analyst rating is “Moderate Buy” with a consensus price target of $241.35.
• Cloudflare reported Q1 earnings and revenue above expectations, including EPS of $0.25 versus $0.23 expected and revenue of $639.75 million, while insiders have also been selling shares in recent months.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 66.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,000 shares of the company's stock after buying an additional 20,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Cloudflare were worth $10,317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. raised its holdings in shares of Cloudflare by 2.6% during the first quarter. Jamison Private Wealth Management Inc. now owns 2,064 shares of the company's stock valued at $426,000 after acquiring an additional 52 shares during the period. Revisor Wealth Management LLC boosted its stake in Cloudflare by 4.0% in the 1st quarter. Revisor Wealth Management LLC now owns 1,390 shares of the company's stock worth $287,000 after purchasing an additional 53 shares during the period. IMA Advisory Services Inc. boosted its stake in Cloudflare by 4.5% in the 4th quarter. IMA Advisory Services Inc. now owns 1,290 shares of the company's stock worth $254,000 after purchasing an additional 55 shares during the period. Brown Brothers Harriman & Co. grew its position in 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 purchasing an additional 56 shares in the last quarter. Finally, Silver Oak Securities Incorporated grew its position in Cloudflare by 5.5% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,090 shares of the company's stock worth $218,000 after purchasing an additional 57 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NET has been the subject of a number of research analyst reports. Piper Sandler restated an "overweight" rating on shares of Cloudflare in a report on Wednesday, June 10th. KeyCorp reissued an "overweight" rating on shares of Cloudflare in a research report on Wednesday, June 10th. Royal Bank Of Canada increased their price objective on Cloudflare from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 10th. Jefferies Financial Group began coverage on Cloudflare in a research report on Wednesday, April 15th. They set a "buy" rating for the company. Finally, UBS Group lifted their target price on Cloudflare from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Wednesday, June 10th. Twenty-one analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Cloudflare currently has an average rating of "Moderate Buy" and a consensus price target of $241.35.

Cloudflare Trading Down 0.1%

Cloudflare stock opened at $242.14 on Monday. Cloudflare, Inc. has a 12 month low of $158.83 and a 12 month high of $276.82. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29. The stock has a market cap of $85.59 billion, a P/E ratio of -968.56, a P/E/G ratio of 244.14 and a beta of 1.67. The company's fifty day simple moving average is $226.09 and its 200-day simple moving average is $204.94.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $639.75 million during the quarter, compared to analyst estimates of $620.83 million. During the same period last year, the company earned $0.16 earnings per share. Cloudflare'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, sell-side analysts forecast that Cloudflare, Inc. will post 0.02 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other news, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $232.39, for a total transaction of $2,323,900.00. Following the completion of the sale, the chief financial officer directly owned 116,733 shares in the company, valued at $27,127,581.87. The trade was a 7.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Graham-Cumming sold 2,520 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $235.95, for a total value of $594,594.00. Following the completion of the sale, the director directly owned 494,067 shares of the company's stock, valued at approximately $116,575,108.65. The trade was a 0.51% 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. Over the last three months, insiders sold 513,861 shares of company stock worth $110,342,146. 10.66% of the stock is currently owned by corporate insiders.

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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