2,438 Shares in Cloudflare, Inc. $NET Purchased by Legato Capital Management LLC

Legato Capital Management LLC bought a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,438 shares of the company’s stock, valued at approximately $481,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in 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 during the last quarter. Invesco Ltd. boosted its stake in Cloudflare by 1.3% in the third quarter. Invesco Ltd. now owns 3,964,733 shares of the company’s stock valued at $850,792,000 after acquiring an additional 49,485 shares during the last quarter. Groupama Asset Managment boosted its stake in Cloudflare by 82.6% in the third quarter. Groupama Asset Managment now owns 2,100,000 shares of the company’s stock valued at $450,639,000 after acquiring an additional 950,000 shares during the last quarter. Northern Trust Corp boosted its stake in Cloudflare by 1.2% in the third quarter. Northern Trust Corp now owns 1,909,120 shares of the company’s stock valued at $409,678,000 after acquiring an additional 21,715 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Cloudflare by 802.6% in the fourth quarter. Jennison Associates LLC now owns 1,863,612 shares of the company’s stock valued at $367,411,000 after acquiring an additional 1,657,144 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Performance

NYSE NET opened at $218.05 on Wednesday. The company’s 50 day moving average is $207.88 and its 200-day moving average is $198.82. Cloudflare, Inc. has a 12-month low of $158.83 and a 12-month high of $260.00. 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 $77.07 billion, a P/E ratio of -872.20 and a beta of 1.67.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) 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 $639.76 million for the quarter, compared to analyst estimates of $620.83 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The company’s quarterly 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.

Analyst Ratings Changes

NET has been the topic of a number of research analyst reports. Morgan Stanley set a $245.00 target price on shares of Cloudflare in a research note on Wednesday, February 11th. Jefferies Financial Group initiated coverage on shares of Cloudflare in a research note on Wednesday, April 15th. They issued a “buy” rating on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Cloudflare in a research note on Friday. KeyCorp cut shares of Cloudflare from an “overweight” rating to a “hold” rating in a research note on Wednesday, April 15th. Finally, Robert W. Baird set a $260.00 target price on shares of Cloudflare and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $236.68.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $210.66, for a total transaction of $11,035,213.44. Following the sale, the chief executive officer owned 25,550 shares of the company’s stock, valued at approximately $5,382,363. This represents a 67.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Janel Riley sold 3,481 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $193.32, for a total transaction of $672,946.92. Following the sale, the chief accounting officer directly owned 49,163 shares in the company, valued at $9,504,191.16. This trade represents a 6.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 577,525 shares of company stock valued at $118,153,351. Corporate insiders own 10.89% 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.