Elevation Point Wealth Partners LLC Increases Stake in Cloudflare, Inc. $NET

Key Points

• Elevation Point Wealth Partners dramatically increased its Cloudflare stake in Q1, boosting holdings by 2,074.9% to 26,990 shares valued at about $5.57 million.
• Several institutional investors also added to Cloudflare positions, and hedge funds now own 82.68% of the company’s stock. Meanwhile, insiders have been selling shares, including CEO Matthew Prince and insider Michelle Zatlyn.
• Cloudflare’s latest results topped expectations, with Q1 EPS of $0.25 versus $0.23 expected and revenue of $639.75 million, up 33.5% year over year. Analysts remain generally positive, with a consensus Moderate Buy rating and average price target of $241.35.

Elevation Point Wealth Partners LLC grew its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 2,074.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,990 shares of the company's stock after acquiring an additional 25,749 shares during the period. Elevation Point Wealth Partners LLC's holdings in Cloudflare were worth $5,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sound Income Strategies LLC grew its position in shares of Cloudflare by 15.7% during the 1st quarter. Sound Income Strategies LLC now owns 419 shares of the company's stock valued at $86,000 after acquiring an additional 57 shares during the period. Jamison Private Wealth Management Inc. raised its holdings in Cloudflare by 2.6% in the 1st quarter. Jamison Private Wealth Management Inc. now owns 2,064 shares of the company's stock worth $426,000 after purchasing an additional 52 shares during the period. Keybank National Association OH lifted its position in Cloudflare by 2.9% during the first quarter. Keybank National Association OH now owns 11,154 shares of the company's stock valued at $2,302,000 after purchasing an additional 316 shares in the last quarter. Root Financial Partners LLC lifted its position in Cloudflare by 56.5% during the first quarter. Root Financial Partners LLC now owns 615 shares of the company's stock valued at $127,000 after purchasing an additional 222 shares in the last quarter. Finally, WD Rutherford LLC grew its holdings in Cloudflare by 101.1% during the first quarter. WD Rutherford LLC now owns 9,434 shares of the company's stock valued at $1,947,000 after purchasing an additional 4,742 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 35,080 shares of the stock in a transaction dated Friday, May 22nd. The shares were 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 represents a 42.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, April 6th. The shares were sold at an average price of $210.02, for a total value of $11,001,687.68. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 566,245 shares of company stock valued at $121,343,833 over the last ninety days. 10.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Sanford C. Bernstein restated a "market perform" rating and issued a $136.00 price target on shares of Cloudflare in a research report on Wednesday, June 10th. Barclays reiterated an "overweight" rating and set a $250.00 price objective on shares of Cloudflare in a research note on Monday, June 1st. Truist Financial raised their target price on shares of Cloudflare from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Jefferies Financial Group initiated coverage on shares of Cloudflare in a report on Wednesday, April 15th. They set a "buy" rating on the stock. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $270.00 price target on shares of Cloudflare in a research report on Monday, June 15th. Twenty-one research 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 has a consensus rating of "Moderate Buy" and a consensus target price of $241.35.

Cloudflare Stock Down 0.1%

NYSE NET opened at $242.14 on Friday. Cloudflare, Inc. has a 12 month low of $158.83 and a 12 month high of $276.82. 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 stock has a market cap of $85.59 billion, a PE ratio of -968.56, a P/E/G ratio of 244.14 and a beta of 1.67. The stock's 50 day moving average is $226.09 and its 200 day moving average is $204.88.

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, beating analysts' consensus estimates of $0.23 by $0.02. The business had revenue of $639.75 million during 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%. The company's revenue was up 33.5% on a year-over-year basis. During the same period last year, the firm posted $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. Research analysts predict that Cloudflare, Inc. will post 0.02 EPS for the current fiscal year.

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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