Allen Investment Management LLC Sells 62,418 Shares of Cloudflare, Inc. $NET

Allen Investment Management LLC lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 11.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 463,917 shares of the company’s stock after selling 62,418 shares during the quarter. Cloudflare makes up 1.0% of Allen Investment Management LLC’s investment portfolio, making the stock its 25th biggest holding. Allen Investment Management LLC’s holdings in Cloudflare were worth $91,461,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NET. Vanguard Group Inc. boosted its position in Cloudflare by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 32,407,646 shares of the company’s stock valued at $6,389,167,000 after acquiring an additional 90,397 shares during the last quarter. Geode Capital Management LLC grew its position in Cloudflare by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 6,018,175 shares of the company’s stock valued at $1,184,044,000 after purchasing an additional 241,981 shares during the period. Invesco Ltd. increased its stake in Cloudflare by 1.3% during the 3rd 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. Norges Bank acquired a new position in Cloudflare during the fourth quarter worth $718,316,000. Finally, Legal & General Group Plc lifted its stake in shares of Cloudflare by 4.9% in the fourth quarter. Legal & General Group Plc now owns 2,824,772 shares of the company’s stock valued at $556,904,000 after buying an additional 131,127 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $224.00 price target on shares of Cloudflare in a report on Wednesday, February 11th. Piper Sandler reissued an “overweight” rating and set a $250.00 price objective (up from $222.00) on shares of Cloudflare in a report on Friday, May 8th. Robert W. Baird set a $260.00 target price on Cloudflare and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Finally, UBS Group restated a “neutral” rating and issued a $220.00 target price on shares of Cloudflare in a research note on Wednesday, February 11th. Eighteen equities 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 stock. According to MarketBeat, Cloudflare presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.68.

Cloudflare Stock Up 11.6%

Shares of NYSE:NET opened at $269.87 on Tuesday. The firm has a market capitalization of $95.39 billion, a PE ratio of -1,079.48 and a beta of 1.70. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $271.20. The firm has a fifty day moving average of $209.52 and a 200 day moving average of $198.92.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, beating 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 business had revenue of $639.76 million for the quarter, compared to the consensus estimate of $620.83 million. During the same quarter last year, the business posted $0.16 earnings per share. The company’s revenue for the quarter 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.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 10,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $200.61, for a total value of $2,006,100.00. Following the completion of the sale, the chief financial officer owned 212,014 shares of the company’s stock, valued at approximately $42,532,128.54. This represents a 4.50% decrease in their position. The sale 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, insider Michelle Zatlyn sold 25,641 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $211.83, for a total transaction of $5,431,533.03. Following the sale, the insider owned 47,425 shares of the company’s stock, valued at approximately $10,046,037.75. The trade was a 35.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 576,464 shares of company stock worth $121,021,760. Corporate insiders own 10.89% of the company’s stock.

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.