2,438 Shares in Cloudflare, Inc. $NET Bought by Legato Capital Management LLC

Legato Capital Management LLC bought a new position in shares of Cloudflare, Inc. (NYSE:NET) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,438 shares of the company’s stock, valued at approximately $481,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Cloudflare by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 32,407,646 shares of the company’s stock valued at $6,389,167,000 after purchasing an additional 90,397 shares in the last quarter. Invesco Ltd. increased its stake in Cloudflare by 1.3% in the third quarter. Invesco Ltd. now owns 3,964,733 shares of the company’s stock valued at $850,792,000 after purchasing an additional 49,485 shares in the last quarter. Groupama Asset Managment increased its stake in Cloudflare by 82.6% in the third 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 in the last quarter. Northern Trust Corp increased its stake in Cloudflare by 1.2% in the third quarter. Northern Trust Corp now owns 1,909,120 shares of the company’s stock valued at $409,678,000 after purchasing an additional 21,715 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in Cloudflare by 802.6% in the fourth quarter. Jennison Associates LLC now owns 1,863,612 shares of the company’s stock valued at $367,411,000 after purchasing an additional 1,657,144 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $173.78, for a total transaction of $9,103,291.52. Following the transaction, the chief executive officer directly owned 22,911 shares in the company, valued at approximately $3,981,473.58. The trade was a 69.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michelle Zatlyn sold 25,641 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $189.50, for a total transaction of $4,858,969.50. Following the transaction, the insider owned 34,514 shares in the company, valued at approximately $6,540,403. This trade represents a 42.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 577,525 shares of company stock worth $118,153,351. 10.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NET has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Cloudflare in a research note on Friday. Scotiabank decreased their price target on shares of Cloudflare from $255.00 to $225.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. The Goldman Sachs Group downgraded shares of Cloudflare from a “buy” rating to a “sell” rating in a research note on Wednesday, April 15th. Wells Fargo & Company lifted their price target on shares of Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Finally, Stifel Nicolaus set a $260.00 price target on shares of Cloudflare in a research note on Friday, May 8th. Eighteen equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.68.

Cloudflare Stock Up 0.9%

Shares of NYSE NET opened at $218.05 on Wednesday. The stock has a market capitalization of $77.07 billion, a P/E ratio of -872.20 and a beta of 1.67. The company has a 50-day moving average price of $207.88 and a 200-day moving average price of $198.82. Cloudflare, Inc. has a 1 year low of $158.83 and a 1 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 released its quarterly earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $639.76 million for the quarter, compared to analysts’ expectations of $620.83 million. During the same period in the previous year, the company earned $0.16 earnings per share. The firm’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.

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.