Forum Financial Management LP Sells 2,774 Shares of Cloudflare, Inc. $NET

Forum Financial Management LP lessened its stake in shares of Cloudflare, Inc. (NYSE:NET) by 65.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,448 shares of the company’s stock after selling 2,774 shares during the period. Forum Financial Management LP’s holdings in Cloudflare were worth $299,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NET. Drucker Wealth 3.0 LLC purchased a new stake in shares of Cloudflare during the 1st quarter worth approximately $250,000. Grand Central Investment Group purchased a new stake in shares of Cloudflare in the first quarter worth about $227,000. Lansforsakringar Fondforvaltning AB publ boosted its position in shares of Cloudflare by 0.9% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 100,506 shares of the company’s stock valued at $20,738,000 after acquiring an additional 874 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Cloudflare in the first quarter valued at approximately $673,000. Finally, Pictet Asset Management Holding SA grew its stake in Cloudflare by 17.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company’s stock valued at $284,900,000 after acquiring an additional 206,506 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Up 0.5%

Shares of NET opened at $246.41 on Thursday. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $276.82. The firm has a market cap of $87.10 billion, a price-to-earnings ratio of -985.64, a PEG ratio of 247.03 and a beta of 1.67. The firm has a 50 day moving average price of $224.70 and a 200-day moving average price of $204.34. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.25 earnings per share 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 the consensus estimate of $620.83 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The firm’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 research analysts forecast that Cloudflare, Inc. will post 0.02 earnings per share for the current year.

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $210.02, for a total transaction of $11,001,687.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 35,080 shares of Cloudflare 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 directly owned 47,425 shares in the company, valued at $10,148,001.50. This trade represents a 42.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 566,112 shares of company stock worth $121,310,716. Company insiders own 10.66% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cloudflare in a research note on Monday, April 20th. Sanford C. Bernstein restated a “market perform” rating and set a $136.00 price target on shares of Cloudflare in a research report on Wednesday, June 10th. The Goldman Sachs Group cut shares of Cloudflare from a “buy” rating to a “sell” rating in a report on Wednesday, April 15th. Zacks Research upgraded Cloudflare from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Finally, Susquehanna boosted their target price on Cloudflare from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Twenty-one equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Cloudflare presently has an average rating of “Moderate Buy” and an average price target of $241.35.

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.