Atika Capital Management LLC Buys 10,100 Shares of Cloudflare, Inc. $NET

Atika Capital Management LLC increased its stake in Cloudflare, Inc. (NYSE:NET) by 18.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,000 shares of the company’s stock after acquiring an additional 10,100 shares during the period. Cloudflare comprises approximately 1.7% of Atika Capital Management LLC’s portfolio, making the stock its 13th largest position. Atika Capital Management LLC’s holdings in Cloudflare were worth $13,412,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NET. HM Payson & Co. purchased a new position in shares of Cloudflare during the 4th quarter valued at about $25,000. Wiser Advisor Group LLC purchased a new stake in Cloudflare in the third quarter worth approximately $26,000. Wexford Capital LP purchased a new stake in Cloudflare in the third quarter worth approximately $30,000. Brown Brothers Harriman & Co. grew its position in Cloudflare by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Finally, Rachor Investment Advisory Services LLC bought a new position in Cloudflare during the fourth quarter valued at approximately $35,000. Institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NET shares. Oppenheimer boosted their price objective on shares of Cloudflare from $300.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday. Piper Sandler reaffirmed an “overweight” rating on shares of Cloudflare in a report on Wednesday, June 10th. BTIG Research lifted their target price 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 issued a $136.00 price target on shares of Cloudflare in a research note on Wednesday, June 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cloudflare in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $261.19.

Insider Activity

In other news, insider Michelle Zatlyn sold 35,080 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $213.98, for a total value of $7,506,418.40. Following the completion of the transaction, the insider owned 47,425 shares of the company’s stock, valued at approximately $10,148,001.50. This represents a 42.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,422 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $249.09, for a total value of $13,057,795.98. 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 have sold 564,903 shares of company stock worth $127,356,194 in the last quarter. 10.66% of the stock is owned by corporate insiders.

Cloudflare Stock Down 2.4%

Shares of Cloudflare stock opened at $262.53 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $242.42 and its two-hundred day simple moving average is $212.03. The company has a market cap of $92.80 billion, a P/E ratio of -1,050.12, a PEG ratio of 274.15 and a beta of 1.67. Cloudflare, Inc. has a 12-month low of $158.83 and a 12-month high of $291.00.

Cloudflare (NYSE:NET) last issued 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 business had revenue of $639.75 million during the quarter, compared to analyst estimates of $620.83 million. During the same period in the prior year, the business earned $0.16 EPS. 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. Research analysts anticipate that Cloudflare, Inc. will post 0.02 EPS for the current year.

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.