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

PNC Financial Services Group Inc. raised its stake in Cloudflare, Inc. (NYSE:NET) by 20.3% during the first quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NET. Baader Bank Aktiengesellschaft bought a new position in shares of Cloudflare during the 1st quarter valued at about $1,911,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Cloudflare during the first quarter valued at about $53,000. Florida Financial Advisors LLC increased its holdings in shares of Cloudflare by 22.4% in the first quarter. Florida Financial Advisors LLC now owns 5,611 shares of the company’s stock worth $1,158,000 after purchasing an additional 1,025 shares during the last quarter. Earned Wealth Advisors LLC increased its holdings in shares of Cloudflare by 2.9% in the first quarter. Earned Wealth Advisors LLC now owns 2,119 shares of the company’s stock worth $437,000 after purchasing an additional 60 shares during the last quarter. Finally, Hollencrest Capital Management lifted its position in shares of Cloudflare by 153.9% in the first quarter. Hollencrest Capital Management now owns 358 shares of the company’s stock worth $74,000 after buying an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 0.2%

Shares of NET opened at $265.06 on Wednesday. The company’s fifty day simple moving average is $246.18 and its 200-day simple moving average is $213.39. The company has a market cap of $93.69 billion, a P/E ratio of -1,060.23, a P/E/G ratio of 205.09 and a beta of 1.67. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.29. Cloudflare, Inc. has a twelve month low of $158.83 and a twelve month high of $291.00.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $639.75 million during the quarter, compared to analysts’ expectations of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company 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. As a group, analysts expect that Cloudflare, Inc. will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $219.11, for a total transaction of $5,618,199.51. Following the completion of the transaction, the insider owned 47,425 shares in the company, valued at $10,391,291.75. The trade was a 35.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,383 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $247.28, for a total value of $12,953,268.24. 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 have sold 554,912 shares of company stock valued at $125,199,636 over the last quarter. Corporate insiders own 10.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NET shares. Oppenheimer raised their price target on Cloudflare from $300.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Raymond James Financial began coverage on Cloudflare in a report on Tuesday, July 7th. They set a “strong-buy” rating on the stock. Wells Fargo & Company increased their target price on Cloudflare from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cloudflare in a report on Friday, July 17th. Finally, Citizens Jmp boosted their price target on shares of Cloudflare from $270.00 to $330.00 and gave the stock a “market outperform” rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Cloudflare has an average rating of “Moderate Buy” and a consensus target price of $261.19.

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.