North Dakota State Investment Board Invests $2.24 Million in Cloudflare, Inc. $NET

Key Points

• North Dakota State Investment Board opened a new position in Cloudflare, buying 11,379 shares worth about $2.24 million in the fourth quarter.
• Institutional interest remains strong, with 82.68% of Cloudflare shares held by hedge funds and other investors. Several firms also increased their stakes during the period.
• Analyst sentiment is mixed but generally positive: Cloudflare has a “Moderate Buy” consensus rating and an average price target of $236.68, while the company recently beat earnings and revenue estimates for the quarter.

North Dakota State Investment Board bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 11,379 shares of the company's stock, valued at approximately $2,243,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Soltis Investment Advisors LLC lifted its position in Cloudflare by 6.8% during the 4th quarter. Soltis Investment Advisors LLC now owns 34,166 shares of the company's stock valued at $6,736,000 after acquiring an additional 2,176 shares during the period. May Hill Capital LLC purchased a new position in Cloudflare during the 4th quarter valued at about $218,000. AlphaCore Capital LLC lifted its position in Cloudflare by 24.2% during the 4th quarter. AlphaCore Capital LLC now owns 1,725 shares of the company's stock valued at $340,000 after acquiring an additional 336 shares during the period. AMJ Financial Wealth Management lifted its position in Cloudflare by 0.3% during the 4th quarter. AMJ Financial Wealth Management now owns 54,813 shares of the company's stock valued at $10,806,000 after acquiring an additional 144 shares during the period. Finally, Left Brain Wealth Management LLC lifted its position in Cloudflare by 37.7% during the 4th quarter. Left Brain Wealth Management LLC now owns 6,822 shares of the company's stock valued at $1,345,000 after acquiring an additional 1,869 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on NET shares. KeyCorp cut shares of Cloudflare from an "overweight" rating to a "hold" rating in a research report on Wednesday, April 15th. DZ Bank raised shares of Cloudflare from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a research report on Friday, February 13th. Morgan Stanley set a $245.00 price objective on shares of Cloudflare in a research note on Wednesday, February 11th. Guggenheim raised their price objective on shares of Cloudflare from $117.00 to $140.00 and gave the company a "sell" rating in a research note on Wednesday, February 11th. Finally, New Street Research set a $140.00 price objective on shares of Cloudflare in a research note on Wednesday, February 11th. Eighteen equities 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 stock. According to data from MarketBeat, Cloudflare currently has an average rating of "Moderate Buy" and a consensus price target of $236.68.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of the company's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $197.98, for a total value of $1,979,800.00. Following the completion of the transaction, the chief financial officer directly owned 221,681 shares in the company, valued at $43,888,404.38. This represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark J. Hawkins sold 133 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $211.62, for a total transaction of $28,145.46. Following the completion of the transaction, the director owned 10,189 shares of the company's stock, valued at approximately $2,156,196.18. The trade was a 1.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 636,246 shares of company stock valued at $125,320,379 in the last three months. Corporate insiders own 10.89% of the company's stock.

Cloudflare Stock Performance

Shares of NYSE NET opened at $201.46 on Tuesday. The firm has a 50 day moving average of $207.12 and a 200 day moving average of $199.76. 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 firm has a market capitalization of $71.21 billion, a price-to-earnings ratio of -805.84 and a beta of 1.67. Cloudflare, Inc. has a 12-month low of $154.03 and a 12-month high of $260.00.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $639.76 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 firm's quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 earnings per share. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. On average, research analysts anticipate that Cloudflare, Inc. will post -0.09 earnings per share for the current 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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