CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Buys 20,000 Shares of Cloudflare, Inc. $NET

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Cloudflare, Inc. (NYSE:NET) by 66.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 50,000 shares of the company’s stock after buying an additional 20,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Cloudflare were worth $10,317,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. increased its holdings in shares of Cloudflare by 2.6% during the 1st quarter. Jamison Private Wealth Management Inc. now owns 2,064 shares of the company’s stock valued at $426,000 after acquiring an additional 52 shares during the last quarter. Revisor Wealth Management LLC lifted its holdings in Cloudflare by 4.0% in the 1st quarter. Revisor Wealth Management LLC now owns 1,390 shares of the company’s stock worth $287,000 after purchasing an additional 53 shares during the last quarter. IMA Advisory Services Inc. boosted its position in Cloudflare by 4.5% during the fourth quarter. IMA Advisory Services Inc. now owns 1,290 shares of the company’s stock worth $254,000 after purchasing an additional 55 shares during the period. Brown Brothers Harriman & Co. boosted its position in Cloudflare by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock worth $34,000 after purchasing an additional 56 shares during the period. Finally, Silver Oak Securities Incorporated boosted its position in Cloudflare by 5.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,090 shares of the company’s stock worth $218,000 after purchasing an additional 57 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Down 0.1%

Shares of NET stock opened at $242.14 on Monday. Cloudflare, Inc. has a 12 month low of $158.83 and a 12 month 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. The firm 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 stock has a 50 day moving average of $226.09 and a 200-day moving average of $204.94.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) 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 $639.75 million for the quarter, compared to the consensus estimate of $620.83 million. During the same quarter last year, the company posted $0.16 earnings per share. Cloudflare’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. On average, equities analysts predict that Cloudflare, Inc. will post 0.02 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NET shares. Barclays reissued an “overweight” rating and issued a $250.00 price target on shares of Cloudflare in a research report on Monday, June 1st. Needham & Company LLC raised their target price on shares of Cloudflare from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Citigroup reiterated a “market outperform” rating on shares of Cloudflare in a report on Monday, June 15th. KeyCorp reiterated an “overweight” rating on shares of Cloudflare in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada boosted their target price on shares of Cloudflare from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.35.

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $224.30, for a total transaction of $11,749,731.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas J. Seifert sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $232.39, for a total transaction of $2,323,900.00. Following the transaction, the chief financial officer directly owned 116,733 shares of the company’s stock, valued at $27,127,581.87. This represents a 7.89% decrease in their position. 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 513,861 shares of company stock worth $110,342,146. 10.66% of the stock is currently owned by insiders.

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.