Cloudflare, Inc. $NET Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in Cloudflare, Inc. (NYSE:NET) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 465,859 shares of the company’s stock after selling 6,544 shares during the period. California State Teachers Retirement System owned about 0.13% of Cloudflare worth $96,125,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NET. Lingotto Investment Management LLP acquired a new stake in Cloudflare during the 4th quarter worth $34,626,000. Trek Financial LLC acquired a new position in Cloudflare in the fourth quarter valued at $1,793,000. Jupiter Asset Management Ltd. increased its stake in Cloudflare by 1,984.7% in the fourth quarter. Jupiter Asset Management Ltd. now owns 197,710 shares of the company’s stock valued at $38,979,000 after purchasing an additional 188,226 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Cloudflare by 25.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,639,661 shares of the company’s stock valued at $323,259,000 after buying an additional 336,768 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Cloudflare by 17.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company’s stock worth $284,900,000 after buying an additional 206,506 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

NET has been the topic of several recent research reports. KeyCorp restated an “overweight” rating on shares of Cloudflare in a research report on Wednesday, June 10th. TD Cowen lifted their target price on shares of Cloudflare from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday, July 13th. Citigroup reiterated a “market outperform” rating on shares of Cloudflare in a research note on Monday, July 20th. Raymond James Financial initiated coverage on Cloudflare in a report on Tuesday, July 7th. They issued a “strong-buy” rating on the stock. Finally, Guggenheim restated a “sell” rating and issued a $140.00 price target on shares of Cloudflare in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Cloudflare has an average rating of “Moderate Buy” and an average target price of $261.19.

Cloudflare Price Performance

NET stock opened at $270.58 on Thursday. The stock has a market capitalization of $95.64 billion, a price-to-earnings ratio of -1,082.32, a price-to-earnings-growth ratio of 203.92 and a beta of 1.67. The stock’s fifty day simple moving average is $247.39 and its 200-day simple moving average is $213.98. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $291.00. 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 issued its quarterly 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. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.The firm had revenue of $639.75 million for the quarter, compared to analyst estimates of $620.83 million. During the same period last year, the company earned $0.16 EPS. The firm’s quarterly 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 expect that Cloudflare, Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling at Cloudflare

In related 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 transaction, the insider owned 47,425 shares in the company, valued at approximately $10,148,001.50. This trade represents a 42.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,422 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $249.09, for a total value of $13,057,795.98. 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 554,912 shares of company stock worth $125,199,636 over the last ninety days. Corporate insiders own 10.66% of the company’s stock.

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.