OP Asset Management Ltd Takes $11.50 Million Position in Cloudflare, Inc. $NET

Key Points

• OP Asset Management opened a new position in Cloudflare during the first quarter, buying 55,714 shares valued at about $11.5 million. Other institutional investors also increased exposure, and hedge funds now own 82.68% of the company.
• Analyst sentiment remains mostly positive, with Cloudflare carrying a Moderate Buy consensus and a target price of $241.35. Several firms recently lifted price targets, even as Weiss Ratings kept a sell rating in place.
• Cloudflare reported strong quarterly results, including 33.5% year-over-year revenue growth to $639.75 million and EPS of $0.25, beating estimates. However, sentiment was tempered by recent insider sales from CEO Matthew Prince and CFO Thomas J. Seifert.

OP Asset Management Ltd bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 55,714 shares of the company's stock, valued at approximately $11,496,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lingotto Investment Management LLP bought a new stake in shares of Cloudflare during the fourth quarter worth $34,626,000. Trek Financial LLC purchased a new position in Cloudflare in the 4th quarter worth about $1,793,000. Jupiter Asset Management Ltd. increased its stake in Cloudflare by 1,984.7% in the 4th quarter. Jupiter Asset Management Ltd. now owns 197,710 shares of the company's stock worth $38,979,000 after buying an additional 188,226 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Cloudflare by 25.8% during 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, Thrivent Financial for Lutherans purchased a new stake in Cloudflare in the 4th quarter valued at about $5,543,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

NET has been the topic of a number of research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Cloudflare in a research note on Monday, April 20th. UBS Group boosted their price target on Cloudflare from $220.00 to $250.00 and gave the company a "neutral" rating in a report on Wednesday, June 10th. Stifel Nicolaus set a $260.00 price objective on Cloudflare in a research note on Friday, May 8th. BTIG Research raised their price objective on Cloudflare from $243.00 to $269.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $136.00 target price on shares of Cloudflare in a report on Wednesday, June 10th. Twenty-one research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.35.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of the business's 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 directly owned 116,733 shares in the company, valued at approximately $27,127,581.87. The trade was a 7.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 Wednesday, June 24th. The shares were sold at an average price of $224.30, for a total transaction of $11,749,731.20. 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 566,245 shares of company stock valued at $121,338,593 over the last 90 days. Company insiders own 10.66% of the company's stock.

Cloudflare Price Performance

NYSE NET opened at $222.63 on Thursday. The company has a market cap of $78.69 billion, a PE ratio of -890.53, a P/E/G ratio of 226.55 and a beta of 1.70. The firm's 50 day moving average price is $220.16 and its 200-day moving average price is $203.20. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $276.82.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share 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 $639.75 million during the quarter, compared to analyst estimates of $620.83 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. Cloudflare'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. Sell-side analysts forecast that Cloudflare, Inc. will post 0.02 EPS for the current fiscal year.

Cloudflare News Roundup

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Cloudflare announced a collaboration with Mozilla, Google, and Microsoft to help standardize privacy-preserving methods for distinguishing human traffic from AI/bot traffic, highlighting its role in a major internet infrastructure problem and potentially expanding demand for its security and traffic-management tools. Cloudflare (NET) Launches Browser Push To Sort Human And AI Traffic
• Positive Sentiment: Cloudflare and beehiiv launched AI Crawl Controls for independent publishers, giving creators simple controls over whether AI systems can scrape or discover their content; this strengthens Cloudflare’s AI monetization and content-control strategy. Cloudflare and beehiiv Introduce AI Crawl Controls to Help Independent Publishers Navigate the AI Era
• Positive Sentiment: Brokerage coverage noted a “Moderate Buy” consensus rating, reinforcing that Wall Street remains constructive on Cloudflare’s growth outlook. Cloudflare, Inc. NYSE: NET Receives Consensus Rating of "Moderate Buy" from Brokerages
• Neutral Sentiment: Several articles framed Cloudflare as benefiting from rising AI demand and growing investor attention, but these were mostly commentary pieces rather than new hard fundamentals. Cloudflare NYSE: NET: Is AI Demand Fueling Fresh Market Attention?
• Negative Sentiment: CEO Matthew Prince sold 52,384 shares in two disclosed transactions under a pre-arranged 10b5-1 plan. While routine, insider selling can still create some near-term pressure on sentiment. SEC filing for Matthew Prince transaction
• Negative Sentiment: A second CEO sale of the same size was also disclosed, adding to investor focus on insider selling even though it was executed under a planned trading program. SEC filing for Matthew Prince transaction

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.