Peregrine Capital Management LLC Reduces Holdings in Cloudflare, Inc. $NET

Peregrine Capital Management LLC lessened its position in Cloudflare, Inc. (NYSE:NET) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,849 shares of the company’s stock after selling 26,482 shares during the period. Cloudflare comprises about 3.1% of Peregrine Capital Management LLC’s portfolio, making the stock its 3rd largest holding. Peregrine Capital Management LLC owned 0.11% of Cloudflare worth $82,918,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NET. IMA Advisory Services Inc. lifted its stake in Cloudflare by 4.5% in the 4th quarter. IMA Advisory Services Inc. now owns 1,290 shares of the company’s stock valued at $254,000 after purchasing an additional 55 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Cloudflare by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock worth $34,000 after buying an additional 56 shares during the last quarter. Silver Oak Securities Incorporated raised its stake in Cloudflare by 5.5% in the fourth quarter. Silver Oak Securities Incorporated now owns 1,090 shares of the company’s stock valued at $218,000 after buying an additional 57 shares during the period. Certuity LLC lifted its position in shares of Cloudflare by 1.8% in the fourth quarter. Certuity LLC now owns 3,156 shares of the company’s stock valued at $622,000 after buying an additional 57 shares during the last quarter. Finally, Cigna Investments Inc. New lifted its position in shares of Cloudflare by 2.0% in the fourth quarter. Cigna Investments Inc. New now owns 3,062 shares of the company’s stock valued at $604,000 after buying an additional 61 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Price Performance

Shares of NYSE NET opened at $245.09 on Wednesday. The firm has a market cap of $86.63 billion, a P/E ratio of -980.34, a price-to-earnings-growth ratio of 245.50 and a beta of 1.70. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.29. Cloudflare, Inc. has a 1-year low of $158.83 and a 1-year high of $276.82. The business’s 50 day moving average is $223.87 and its 200-day moving average is $204.07.

Cloudflare (NYSE:NET) last released 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 return on equity of 5.65% and a negative net margin of 3.72%.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 company posted $0.16 EPS. The firm’s quarterly revenue 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. Equities research analysts predict that Cloudflare, Inc. will post 0.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NET shares. Zacks Research raised Cloudflare from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $136.00 price target on shares of Cloudflare in a report on Wednesday, June 10th. Citigroup reaffirmed a “market outperform” rating on shares of Cloudflare in a research report on Monday, June 15th. New Street Research reiterated a “market outperform” rating on shares of Cloudflare in a report on Monday, June 15th. Finally, TD Cowen reissued a “buy” rating on shares of Cloudflare in a research report on Wednesday, June 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $241.35.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $224.30, for a total value of $11,749,731.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas J. Seifert sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $232.39, for a total transaction of $2,323,900.00. Following the completion of the sale, the chief financial officer directly owned 116,733 shares of the company’s stock, valued at $27,127,581.87. This represents a 7.89% 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. Insiders have sold a total of 566,112 shares of company stock valued at $121,310,716 in the last 90 days. 10.66% of the stock is currently owned by corporate insiders.

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.