Whittier Trust Co. of Nevada Inc. Acquires 9,184 Shares of Cloudflare, Inc. $NET

Key Points

• Whittier Trust Co. of Nevada increased its Cloudflare stake by 7.0% in Q1, buying 9,184 additional shares and bringing its total holdings to 139,644 shares worth about $29.6 million.
• Insider selling was notable, with CEO Matthew Prince and CFO Thomas J. Seifert both selling shares recently; over the last three months, insiders sold 513,861 shares valued at about $110.3 million.
• Cloudflare reported better-than-expected quarterly results, posting EPS of $0.25 on revenue of $639.75 million, while analysts currently rate the stock a Moderate Buy with a consensus price target of $241.35.

Whittier Trust Co. of Nevada Inc. boosted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,644 shares of the company's stock after purchasing an additional 9,184 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Cloudflare were worth $29,574,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NET. HM Payson & Co. acquired a new position in Cloudflare during the 4th quarter worth about $25,000. Wiser Advisor Group LLC acquired a new stake in shares of Cloudflare in the third quarter valued at about $26,000. Wexford Capital LP acquired a new stake in shares of Cloudflare in the third quarter valued at about $30,000. Ameriflex Group Inc. raised its position in shares of Cloudflare by 105.6% during the third quarter. Ameriflex Group Inc. now owns 148 shares of the company's stock worth $32,000 after acquiring an additional 76 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Cloudflare by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company's stock worth $34,000 after acquiring an additional 56 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $224.30, for a total value of $11,749,731.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas J. Seifert sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $232.39, for a total value of $2,323,900.00. Following the transaction, the chief financial officer directly owned 116,733 shares in the company, valued at approximately $27,127,581.87. This trade 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. In the last three months, insiders sold 513,861 shares of company stock valued at $110,342,146. 10.66% of the stock is currently owned by corporate insiders.

Cloudflare Trading Down 0.1%

NYSE NET opened at $242.14 on Monday. The stock has a market capitalization of $85.59 billion, a P/E ratio of -968.56, a P/E/G ratio of 244.14 and a beta of 1.67. The business has a 50 day simple moving average of $226.09 and a 200 day simple moving average of $204.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.96 and a quick ratio of 1.96. Cloudflare, Inc. has a one year low of $158.83 and a one year high of $276.82.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $639.75 million for the quarter, compared to analysts' expectations of $620.83 million. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.The company's revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the prior year, the business 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. Research analysts expect that Cloudflare, Inc. will post 0.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NET shares. Guggenheim reiterated a "sell" rating and issued a $140.00 target price on shares of Cloudflare in a report on Wednesday, June 10th. KeyCorp restated an "overweight" rating on shares of Cloudflare in a report on Wednesday, June 10th. Barclays restated an "overweight" rating and issued a $250.00 price target on shares of Cloudflare in a research report on Monday, June 1st. UBS Group upped their price objective on shares of Cloudflare from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Wednesday, June 10th. Finally, TD Cowen reiterated a "buy" rating on shares of Cloudflare in a research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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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