K.J. Harrison & Partners Inc Takes $2.08 Million Position in Cloudflare, Inc. $NET

K.J. Harrison & Partners Inc acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) in the first quarter, Holdings Channel reports. The institutional investor acquired 10,100 shares of the company’s stock, valued at approximately $2,084,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NET. Norges Bank bought a new stake in shares of Cloudflare in the 4th quarter valued at $718,316,000. Jennison Associates LLC raised its position in shares of Cloudflare by 802.6% in the 4th quarter. Jennison Associates LLC now owns 1,863,612 shares of the company’s stock worth $367,411,000 after acquiring an additional 1,657,144 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Cloudflare by 4,042.6% in the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock valued at $275,887,000 after purchasing an additional 1,365,598 shares during the period. Groupama Asset Managment lifted its stake in shares of Cloudflare by 82.6% in the 3rd quarter. Groupama Asset Managment now owns 2,100,000 shares of the company’s stock valued at $450,639,000 after purchasing an additional 950,000 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Cloudflare by 25.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,639,661 shares of the company’s stock valued at $323,259,000 after purchasing an additional 336,768 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $242.14 on Friday. The company has a market cap of $85.59 billion, a PE ratio of -968.56, a price-to-earnings-growth ratio of 244.14 and a beta of 1.67. The business has a 50 day moving average price of $226.09 and a 200-day moving average price of $204.88. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 week high of $276.82. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29.

Cloudflare (NYSE:NET) last posted its quarterly earnings data 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. 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 in the previous year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. 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 anticipate that Cloudflare, Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $219.11, for a total value of $5,618,199.51. Following the transaction, the insider owned 47,425 shares of the company’s stock, valued at approximately $10,391,291.75. The trade was a 35.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark J. Hawkins sold 133 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $249.00, for a total transaction of $33,117.00. Following the completion of the transaction, the director directly owned 10,765 shares in the company, valued at $2,680,485. This trade represents a 1.22% 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. Insiders sold a total of 566,245 shares of company stock valued at $121,343,833 in the last ninety days. 10.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NET shares. Needham & Company LLC raised their price objective on shares of Cloudflare from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Morgan Stanley reissued an “overweight” rating and set a $305.00 target price on shares of Cloudflare in a research note on Thursday, June 4th. Citigroup restated a “market outperform” rating on shares of Cloudflare in a report on Monday, June 15th. Truist Financial upped their price objective on shares of Cloudflare from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group started coverage on shares of Cloudflare in a research report on Wednesday, April 15th. They set a “buy” rating on the stock. Twenty-one investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.