Bank of New York Mellon Corp Trims Stake in Cloudflare, Inc. $NET

Bank of New York Mellon Corp cut its position in shares of Cloudflare, Inc. (NYSE:NET) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,044,041 shares of the company’s stock after selling 13,224 shares during the period. Bank of New York Mellon Corp’s holdings in Cloudflare were worth $215,427,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 90,397 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cloudflare by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 6,018,175 shares of the company’s stock worth $1,184,044,000 after acquiring an additional 241,981 shares in the last quarter. First Trust Advisors LP grew its holdings in Cloudflare by 1.6% during the 4th quarter. First Trust Advisors LP now owns 4,019,157 shares of the company’s stock worth $792,377,000 after acquiring an additional 63,198 shares in the last quarter. Invesco Ltd. increased its position 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 during the period. Finally, Norges Bank purchased a new position in Cloudflare during the 4th quarter valued at about $718,316,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NET. BTIG Research upped their price target on shares of Cloudflare from $269.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Sanford C. Bernstein reissued a “market perform” rating and set a $136.00 price objective on shares of Cloudflare in a report on Wednesday, June 10th. Barclays boosted their price objective on shares of Cloudflare from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Raymond James Financial initiated coverage on Cloudflare in a report on Tuesday, July 7th. They set a “strong-buy” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cloudflare in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $253.41.

Cloudflare Trading Up 2.0%

NYSE NET opened at $277.84 on Friday. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 week high of $291.00. The company has a 50 day moving average price of $236.36 and a 200 day moving average price of $209.95. 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 $98.21 billion, a PE ratio of -1,111.37, a price-to-earnings-growth ratio of 283.00 and a beta of 1.67.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, beating 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 earnings per share. Cloudflare’s revenue 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. As a group, sell-side analysts forecast that Cloudflare, Inc. will post 0.02 EPS for the current fiscal year.

Cloudflare News Roundup

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Morgan Stanley raised its price target on Cloudflare from $305 to $322 and reiterated an overweight rating, signaling stronger confidence in the company’s upside. This kind of analyst upgrade can help support the stock. Morgan Stanley price target increase on Cloudflare
• Positive Sentiment: Cloudflare launched Precursor, a new bot-management product designed to detect sophisticated automated attacks in real time. The launch reinforces the company’s cybersecurity and privacy narrative, which is a key driver of investor optimism. Cloudflare launches Precursor
• Positive Sentiment: Recent commentary continues to highlight Cloudflare as a beneficiary of rising demand for cybersecurity and AI infrastructure, and the stock has also been mentioned favorably in momentum-stock and “best cybersecurity stocks” roundups. Cloudflare momentum stock article
• Neutral Sentiment: Other recent articles emphasize Cloudflare’s strong three-year run and rising fair-value estimates, but also note that the shares already trade at a rich valuation. That may limit near-term upside if growth does not keep accelerating. Cloudflare valuation article
• Neutral Sentiment: The stock also got a “gains as market dips” mention, reflecting relative strength versus the broader market rather than a company-specific catalyst. Cloudflare gains as market dips article

Insider Activity

In related news, Director John Graham-Cumming sold 2,520 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $247.28, for a total transaction of $623,145.60. Following the transaction, the director directly owned 494,909 shares of the company’s stock, valued at $122,381,097.52. This represents a 0.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 888,073 shares of the company’s stock, valued at approximately $238,101,252.03. This 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. In the last 90 days, insiders have sold 616,185 shares of company stock worth $137,831,055. Company insiders own 10.66% of the company’s stock.

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.