Allstate Corp Grows Position in Cloudflare, Inc. $NET

Allstate Corp increased its position in Cloudflare, Inc. (NYSE:NET) by 106.8% in the fourth quarter, HoldingsChannel reports. The firm owned 24,080 shares of the company’s stock after purchasing an additional 12,436 shares during the quarter. Allstate Corp’s holdings in Cloudflare were worth $4,747,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on NET shares. The Goldman Sachs Group cut Cloudflare from a “buy” rating to a “sell” rating in a research note on Wednesday, April 15th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Cloudflare in a research note on Friday. Scotiabank lowered their price objective on Cloudflare from $255.00 to $225.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. Zacks Research upgraded Cloudflare from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. Finally, Piper Sandler reiterated an “overweight” rating and set a $250.00 price objective (up from $222.00) on shares of Cloudflare in a research note on Friday, May 8th. 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 company. Based on data from MarketBeat, Cloudflare currently has an average rating of “Moderate Buy” and an average target price of $236.68.

Cloudflare Stock Performance

Shares of NET opened at $218.05 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.96 and a quick ratio of 1.96. Cloudflare, Inc. has a one year low of $158.83 and a one year high of $260.00. The firm has a market capitalization of $77.07 billion, a P/E ratio of -872.20 and a beta of 1.67. The business has a fifty day moving average of $207.88 and a 200 day moving average of $198.82.

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 return on equity of 5.65% and a negative net margin of 3.72%.The company had revenue of $639.76 million during the quarter, compared to analyst estimates of $620.83 million. During the same quarter in the previous year, the company posted $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.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction on Monday, May 18th. The stock was sold at an average price of $200.61, for a total transaction of $2,006,100.00. Following the transaction, the chief financial officer directly owned 212,014 shares in the company, valued at approximately $42,532,128.54. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $238.12, for a total value of $3,571,800.00. Following the transaction, the director owned 908,073 shares in the company, valued at $216,230,342.76. This trade represents a 1.63% decrease in their ownership of the stock. 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 a total of 577,525 shares of company stock valued at $118,153,351 over the last ninety days. 10.89% of the stock is 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.