Sterling Capital Management LLC Has $2.42 Million Stock Holdings in Cloudflare, Inc. $NET

Sterling Capital Management LLC decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 32.7% in the first quarter, Holdings Channel reports. The firm 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 also recently added to or reduced their stakes in NET. HM Payson & Co. acquired a new stake in Cloudflare in the 4th quarter valued at $25,000. Wiser Advisor Group LLC bought a new stake in Cloudflare in the third quarter valued at $26,000. Wexford Capital LP acquired a new position in Cloudflare during the third quarter worth $30,000. Ameriflex Group Inc. raised its stake in 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 in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Cloudflare by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock valued at $34,000 after acquiring an additional 56 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Michelle Zatlyn sold 35,080 shares of Cloudflare stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $213.98, for a total value of $7,506,418.40. Following the completion of the sale, the insider directly owned 47,425 shares of the company’s stock, valued at approximately $10,148,001.50. This trade represents a 42.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $210.02, for a total value of $11,001,687.68. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 566,245 shares of company stock worth $121,338,593 over the last quarter. Corporate insiders own 10.66% of the company’s stock.

Cloudflare Trading Down 0.1%

NET opened at $237.06 on Monday. Cloudflare, Inc. has a 1-year low of $158.83 and a 1-year high of $276.82. The stock has a market capitalization of $83.79 billion, a PE ratio of -948.24, a PEG ratio of 238.93 and a beta of 1.70. 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 50-day moving average price of $222.06 and a two-hundred day moving average price of $203.60.

Cloudflare (NYSE:NET) last announced its 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 company had revenue of $639.75 million for 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%. Cloudflare’s quarterly revenue was up 33.5% on a year-over-year basis. During the same period in the prior year, the business earned $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. As a group, equities analysts anticipate that Cloudflare, Inc. will post 0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Cloudflare from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Citizens Jmp restated a “market outperform” rating and issued a $270.00 price target on shares of Cloudflare in a research report on Monday, June 15th. Royal Bank Of Canada upped their price objective on shares of Cloudflare from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 10th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $136.00 price objective on shares of Cloudflare in a report on Wednesday, June 10th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $305.00 target price on shares of Cloudflare in a research note on Thursday, June 4th. Twenty-one analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Cloudflare has an average rating of “Moderate Buy” and an average target price 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.