Carnegie Investment Counsel Sells 1,877 Shares of Cloudflare, Inc. $NET

Carnegie Investment Counsel trimmed its position in Cloudflare, Inc. (NYSE:NET) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 132,907 shares of the company’s stock after selling 1,877 shares during the quarter. Carnegie Investment Counsel’s holdings in Cloudflare were worth $27,424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NET. Empowered Funds LLC raised its stake in Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock valued at $750,000 after buying an additional 1,696 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Cloudflare during the 2nd quarter worth approximately $424,000. Cerity Partners LLC raised its stake in Cloudflare by 30.1% in the 2nd quarter. Cerity Partners LLC now owns 27,531 shares of the company’s stock valued at $5,391,000 after acquiring an additional 6,363 shares during the period. Sei Investments Co. raised its stake in Cloudflare by 40.1% in the 2nd quarter. Sei Investments Co. now owns 329,036 shares of the company’s stock valued at $64,432,000 after acquiring an additional 94,112 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Cloudflare by 14.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company’s stock valued at $3,224,000 after purchasing an additional 2,093 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In related news, Director Mark J. Hawkins sold 133 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $249.00, for a total value of $33,117.00. Following the sale, the director directly owned 10,765 shares of the company’s stock, valued at $2,680,485. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Carl Ledbetter sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $268.11, for a total value of $1,340,550.00. Following the transaction, the director owned 888,073 shares in the company, valued at $238,101,252.03. This trade represents a 0.56% 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. Insiders sold a total of 626,185 shares of company stock valued at $139,810,855 over the last quarter. Company insiders own 10.66% of the company’s stock.

Cloudflare News Roundup

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: BTIG Research raised its price target on Cloudflare to $314 from $269 and kept a Buy rating, signaling further upside potential for the stock. BTIG raises Cloudflare price target
• Positive Sentiment: Scotiabank upgraded Cloudflare to Sector Outperform with a $300 target, citing AI, agentic traffic, edge computing, and zero-trust security as key growth drivers. Scotiabank upgrades Cloudflare
• Positive Sentiment: Multiple articles highlighted Cloudflare as one of the cloud-computing names best positioned to benefit from AI-driven data-center growth in the second half of 2026. Cloudflare named as a top cloud computing stock
• Positive Sentiment: Coverage around Cloudflare’s deal with OpenAI and broader AI infrastructure buzz has added to optimism that the company can capture more AI-related traffic and demand. Cloudflare deal with OpenAI
• Neutral Sentiment: Director Carl Ledbetter sold 5,000 shares, but the transaction was done under a pre-arranged Rule 10b5-1 plan and is not necessarily a negative fundamental signal. Carl Ledbetter sells Cloudflare shares
• Neutral Sentiment: Recent roundup pieces comparing Cloudflare with other content-delivery stocks did not appear to change the investment thesis materially, but they helped keep NET in the spotlight. Cloudflare versus content delivery peers

Cloudflare Stock Down 2.7%

NET traded down $7.34 during trading on Friday, hitting $268.46. 2,301,316 shares of the company’s stock were exchanged, compared to its average volume of 2,982,934. The stock has a market cap of $94.89 billion, a P/E ratio of -1,073.84, a PEG ratio of 270.32 and a beta of 1.67. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $280.14. The business’s 50 day moving average is $231.89 and its two-hundred day moving average is $207.40. 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 released its quarterly earnings data on Thursday, May 7th. The company reported $0.25 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 company had revenue of $639.75 million during the quarter, compared to the consensus estimate of $620.83 million. During the same period last year, the firm earned $0.16 EPS. Cloudflare’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. As a group, equities analysts expect that Cloudflare, Inc. will post 0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Raymond James Financial started coverage on shares of Cloudflare in a research report on Tuesday. They issued a “strong-buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Cloudflare to a “buy” rating in a research report on Tuesday. Needham & Company LLC increased their price objective on Cloudflare from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $230.00 target price (up from $224.00) on shares of Cloudflare in a report on Wednesday, June 10th. Finally, Stifel Nicolaus set a $260.00 price objective on shares of Cloudflare in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $245.96.

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.