K.J. Harrison & Partners Inc Invests $2.08 Million in Cloudflare, Inc. $NET

Key Points

• K.J. Harrison & Partners bought a new stake in Cloudflare during Q1, purchasing 10,100 shares worth about $2.08 million.
• Cloudflare continues to attract institutional interest, with several large investors adding positions; overall, 82.68% of the stock is owned by institutions.
• The company reported strong quarterly results, beating EPS and revenue estimates, while analysts remain generally positive with a Moderate Buy consensus and a $241.35 target price.

K.J. Harrison & Partners Inc purchased a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,100 shares of the company's stock, valued at approximately $2,084,000.

Several other institutional investors have also made changes to their positions in the stock. Lingotto Investment Management LLP bought a new stake in Cloudflare during the fourth quarter worth about $34,626,000. Trek Financial LLC bought a new position in Cloudflare in the 4th quarter valued at about $1,793,000. Jupiter Asset Management Ltd. increased its holdings in Cloudflare by 1,984.7% in the 4th quarter. Jupiter Asset Management Ltd. now owns 197,710 shares of the company's stock valued at $38,979,000 after buying an additional 188,226 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Cloudflare by 25.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,639,661 shares of the company's stock valued at $323,259,000 after buying an additional 336,768 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Cloudflare by 17.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company's stock valued at $284,900,000 after buying an additional 206,506 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Trading Down 0.1%

Shares of Cloudflare stock opened at $242.14 on Friday. The firm's 50 day moving average is $226.09 and its 200 day moving average is $204.88. The firm has a market capitalization of $85.59 billion, a PE ratio of -968.56, a price-to-earnings-growth ratio of 244.14 and a beta of 1.67. Cloudflare, Inc. has a 1 year low of $158.83 and a 1 year 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.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The business had revenue of $639.75 million during the quarter, compared to the consensus estimate of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The firm's revenue was up 33.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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. Equities research analysts forecast that Cloudflare, Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $224.30, for a total transaction of $11,749,731.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $232.39, for a total value of $2,323,900.00. Following the completion of the transaction, the chief financial officer owned 116,733 shares of the company's stock, valued at $27,127,581.87. This represents a 7.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 566,245 shares of company stock worth $121,343,833 over the last 90 days. 10.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on NET shares. Royal Bank Of Canada increased their price target on shares of Cloudflare from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 10th. Mizuho boosted their price objective on shares of Cloudflare from $235.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, June 10th. Zacks Research upgraded Cloudflare from a "strong sell" rating to a "hold" rating in a research note on Friday, March 13th. Morgan Stanley reaffirmed an "overweight" rating and issued a $305.00 target price on shares of Cloudflare in a report on Thursday, June 4th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Cloudflare in a research note on Wednesday, June 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.35.

Cloudflare Company 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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