PNC Financial Services Group Inc. Boosts Stake in Cloudflare, Inc. $NET

PNC Financial Services Group Inc. increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 20.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,281 shares of the company’s stock after purchasing an additional 2,412 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cloudflare were worth $2,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of NET. HM Payson & Co. purchased a new stake in shares of Cloudflare during the 4th quarter valued at about $25,000. Wiser Advisor Group LLC purchased a new stake in Cloudflare during the 3rd quarter valued at $26,000. Wexford Capital LP purchased a new stake in Cloudflare during the 3rd quarter valued at $30,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Cloudflare by 55.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock valued at $34,000 after buying an additional 56 shares during the period. Finally, Rachor Investment Advisory Services LLC purchased a new position in shares of Cloudflare in the 4th quarter worth $35,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Performance

NET opened at $265.06 on Wednesday. The firm has a market cap of $93.69 billion, a P/E ratio of -1,060.23, a PEG ratio of 205.09 and a beta of 1.67. Cloudflare, Inc. has a 1-year low of $158.83 and a 1-year high of $291.00. The company has a 50 day simple moving average of $246.18 and a two-hundred day simple moving average of $213.39. 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 (NYSE:NET) last announced 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. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The firm had revenue of $639.75 million for the quarter, compared to the consensus estimate of $620.83 million. During the same period last year, the firm earned $0.16 EPS. The company’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 analysts forecast that Cloudflare, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other news, Director John Graham-Cumming sold 2,520 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $247.28, for a total value of $623,145.60. Following the completion of the transaction, the director owned 494,909 shares of the company’s stock, valued at $122,381,097.52. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,383 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $247.28, for a total value of $12,953,268.24. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 554,912 shares of company stock valued at $125,199,636. 10.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on NET. Royal Bank Of Canada reiterated an “outperform” rating and set a $290.00 price objective on shares of Cloudflare in a research report on Thursday, July 16th. Zacks Research upgraded shares of Cloudflare from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. New Street Research reiterated a “market outperform” rating on shares of Cloudflare in a research note on Monday, June 15th. BTIG Research boosted their price objective on shares of Cloudflare from $269.00 to $314.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, TD Cowen upped their price objective on Cloudflare from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $261.19.

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.