Geode Capital Management LLC Has $1.18 Billion Stock Position in Cloudflare, Inc. $NET

Key Points

• Geode Capital Management increased its Cloudflare stake by 4.2% in the fourth quarter, ending with 6.02 million shares valued at about $1.18 billion, or roughly 1.72% of the company.
• Cloudflare reported better-than-expected quarterly results, with EPS of $0.25 versus $0.23 expected and revenue of $639.76 million, up 33.5% year over year. The company also issued FY 2026 and Q2 2026 guidance.
• The stock has drawn mixed views from Wall Street: analysts currently rate it Moderate Buy overall, while insiders recently sold shares, including CEO Matthew Prince and CAO Janel Riley.

Geode Capital Management LLC boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,018,175 shares of the company's stock after buying an additional 241,981 shares during the quarter. Geode Capital Management LLC owned approximately 1.72% of Cloudflare worth $1,184,044,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. increased its position in Cloudflare by 693.3% during the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company's stock worth $26,000 after buying an additional 104 shares during the last quarter. Wiser Advisor Group LLC acquired a new position in Cloudflare during the third quarter worth approximately $26,000. Westside Investment Management Inc. increased its position in Cloudflare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 130 shares of the company's stock worth $28,000 after buying an additional 65 shares during the last quarter. Wexford Capital LP acquired a new position in Cloudflare during the third quarter worth approximately $30,000. Finally, Cloud Capital Management LLC acquired a new position in Cloudflare during the third quarter worth approximately $31,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Trading Up 6.0%

Shares of NYSE:NET opened at $241.82 on Friday. Cloudflare, Inc. has a 12-month low of $158.83 and a 12-month high of $260.00. The stock has a market cap of $85.47 billion, a PE ratio of -967.27 and a beta of 1.67. The business has a 50 day moving average of $208.57 and a 200-day moving average of $198.97. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 $639.76 million during the quarter, compared to analysts' expectations of $620.83 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The business's 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.

Wall Street Analyst Weigh In

NET has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Cloudflare in a research report on Friday, May 22nd. UBS Group reissued a "neutral" rating and set a $220.00 price target on shares of Cloudflare in a research report on Wednesday, February 11th. Barclays boosted their price objective on Cloudflare from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, February 11th. Jefferies Financial Group started coverage on Cloudflare in a report on Wednesday, April 15th. They set a "buy" rating for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cloudflare in a report on Monday, April 20th. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Cloudflare currently has a consensus rating of "Moderate Buy" and a consensus target price of $236.68.

Insiders Place Their Bets

In related news, CAO Janel Riley sold 3,481 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $193.32, for a total value of $672,946.92. Following the completion of the sale, the chief accounting officer directly owned 49,163 shares in the company, valued at approximately $9,504,191.16. The trade was a 6.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were 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 owned 25,550 shares of the company's stock, valued at approximately $5,382,363. This trade represents a 67.22% 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. Insiders sold a total of 585,862 shares of company stock valued at $121,988,011 in the last quarter. Company insiders own 10.89% of the company's stock.

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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