Legal & General Group Plc Has $556.90 Million Holdings in Cloudflare, Inc. $NET

Legal & General Group Plc increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 4.9% in the fourth quarter, Holdings Channel reports. The firm owned 2,824,772 shares of the company’s stock after buying an additional 131,127 shares during the quarter. Legal & General Group Plc’s holdings in Cloudflare were worth $556,904,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NET. Physician Wealth Advisors Inc. grew its stake in shares of Cloudflare by 693.3% during the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after purchasing an additional 104 shares during the period. Wiser Advisor Group LLC bought a new position in Cloudflare during the third quarter worth about $26,000. Westside Investment Management Inc. lifted its holdings in Cloudflare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after acquiring an additional 65 shares in the last quarter. Wexford Capital LP bought a new position in Cloudflare during the third quarter worth about $30,000. Finally, Cloud Capital Management LLC bought a new position in Cloudflare during the third quarter worth about $31,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Janel Riley sold 3,481 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $193.32, for a total value of $672,946.92. Following the sale, the chief accounting officer directly owned 49,163 shares in the company, valued at $9,504,191.16. The trade was a 6.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Carl Ledbetter sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $238.12, for a total value of $3,571,800.00. Following the completion of the sale, the director owned 908,073 shares in the company, valued at approximately $216,230,342.76. This trade represents a 1.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 577,525 shares of company stock valued at $118,153,351. Corporate insiders own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NET shares. BTIG Research reiterated a “buy” rating and set a $243.00 target price on shares of Cloudflare in a report on Friday, May 8th. Citigroup started coverage on Cloudflare in a report on Wednesday, April 15th. They set a “buy” rating on the stock. UBS Group reiterated a “neutral” rating and set a $220.00 target price on shares of Cloudflare in a report on Wednesday, February 11th. The Goldman Sachs Group lowered Cloudflare from a “buy” rating to a “sell” rating in a report on Wednesday, April 15th. Finally, Zacks Research upgraded Cloudflare from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Eighteen research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $236.68.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $216.24 on Tuesday. The firm has a market cap of $76.43 billion, a price-to-earnings ratio of -864.96 and a beta of 1.67. The stock’s 50-day moving average is $207.77 and its 200-day moving average is $198.90. Cloudflare, Inc. has a one year low of $154.93 and a one year high of $260.00. 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 issued its quarterly earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $639.76 million for the quarter, compared to analyst estimates of $620.83 million. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.The company’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company posted $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.

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.