Sterling Capital Management LLC Sells 5,682 Shares of Cloudflare, Inc. $NET

Sterling Capital Management LLC lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 32.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,708 shares of the company’s stock after selling 5,682 shares during the quarter. Sterling Capital Management LLC’s holdings in Cloudflare were worth $2,416,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Lingotto Investment Management LLP acquired a new stake in shares of Cloudflare in the fourth quarter worth about $34,626,000. Trek Financial LLC bought a new position in shares of Cloudflare in the 4th quarter valued at approximately $1,793,000. Jupiter Asset Management Ltd. raised its stake in shares of 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 acquiring an additional 188,226 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Cloudflare by 25.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,639,661 shares of the company’s stock worth $323,259,000 after purchasing an additional 336,768 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in Cloudflare in the 4th quarter worth approximately $5,543,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Katrin Suder sold 293 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $252.92, for a total value of $74,105.56. Following the completion of the transaction, the director directly owned 37,430 shares in the company, valued at approximately $9,466,795.60. This represents a 0.78% decrease in their ownership of the stock. The sale 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, CFO Thomas J. Seifert sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 116,733 shares of the company’s stock, 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 have sold 566,245 shares of company stock worth $121,338,593. 10.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NET has been the topic of several analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $305.00 price target on shares of Cloudflare in a report on Thursday, June 4th. BTIG Research boosted their price objective on shares of Cloudflare from $243.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Mizuho raised their target price on shares of Cloudflare from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Royal Bank Of Canada lifted their target price on shares of Cloudflare from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Finally, KeyCorp reissued an “overweight” rating on shares of Cloudflare in a research report on Wednesday, June 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of “Moderate Buy” and an average target price of $241.35.

Cloudflare Stock Performance

NYSE:NET opened at $237.06 on Monday. The firm’s 50-day moving average is $222.06 and its 200-day moving average is $203.60. The company has a market cap of $83.79 billion, a price-to-earnings ratio of -948.24, a PEG ratio of 238.93 and a beta of 1.70. 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) last released its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The business had revenue of $639.75 million during the quarter, compared to analysts’ expectations of $620.83 million. During the same quarter last year, the company earned $0.16 earnings per share. The firm’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. Equities research analysts anticipate that Cloudflare, Inc. will post 0.02 earnings per share for the current year.

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.