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

Forum Financial Management LP decreased its position in Cloudflare, Inc. (NYSE:NET) by 65.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,448 shares of the company’s stock after selling 2,774 shares during the quarter. Forum Financial Management LP’s holdings in Cloudflare were worth $299,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Cloudflare by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 32,407,646 shares of the company’s stock worth $6,389,167,000 after purchasing an additional 90,397 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Cloudflare by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 6,018,175 shares of the company’s stock worth $1,184,044,000 after buying an additional 241,981 shares during the last quarter. First Trust Advisors LP grew its position in shares of Cloudflare by 1.6% in the 4th quarter. First Trust Advisors LP now owns 4,019,157 shares of the company’s stock worth $792,377,000 after buying an additional 63,198 shares during the last quarter. Invesco Ltd. increased its stake in shares of Cloudflare by 1.3% during the third quarter. Invesco Ltd. now owns 3,964,733 shares of the company’s stock valued at $850,792,000 after buying an additional 49,485 shares during the period. Finally, Norges Bank purchased a new position in shares of Cloudflare during the fourth quarter valued at approximately $718,316,000. 82.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Michelle Zatlyn sold 35,080 shares of the business’s 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 sale, the insider directly owned 47,425 shares of the company’s stock, valued at $10,148,001.50. The trade was a 42.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,384 shares of the company’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 value of $11,001,687.68. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 566,112 shares of company stock valued at $121,310,716 in the last ninety days. Insiders own 10.66% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of research analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $136.00 price target on shares of Cloudflare in a research note on Wednesday, June 10th. Royal Bank Of Canada boosted their price objective on shares of Cloudflare from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. The Goldman Sachs Group lowered shares of Cloudflare from a “buy” rating to a “sell” rating in a report on Wednesday, April 15th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $230.00 target price (up from $224.00) on shares of Cloudflare in a research report on Wednesday, June 10th. Finally, UBS Group lifted their target price on shares of Cloudflare from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, June 10th. Twenty-one research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $241.35.

Cloudflare Stock Performance

Shares of NET stock opened at $246.41 on Thursday. The company’s fifty day moving average price is $224.70 and its 200-day moving average price is $204.34. The stock has a market cap of $87.10 billion, a PE ratio of -985.64, a price-to-earnings-growth ratio of 247.03 and a beta of 1.67. 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 12 month low of $158.83 and a 12 month high of $276.82.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.25 earnings per share (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 company had revenue of $639.75 million during the quarter, compared to analyst estimates of $620.83 million. During the same period last year, the business earned $0.16 EPS. Cloudflare’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. On average, equities analysts expect that Cloudflare, Inc. will post 0.02 EPS for the current fiscal year.

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.