Teachers Retirement System of The State of Kentucky Sells 17,000 Shares of Cloudflare, Inc. $NET

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Cloudflare, Inc. (NYSE:NET) by 12.1% during the first quarter, HoldingsChannel.com reports. The fund owned 123,551 shares of the company’s stock after selling 17,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cloudflare were worth $25,494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NET. LGT Fund Management Co Ltd. bought a new position in Cloudflare during the first quarter valued at approximately $8,108,000. Global Assets Advisory LLC bought a new stake in Cloudflare in the 1st quarter worth approximately $135,000. Anchor Investment Management LLC purchased a new stake in Cloudflare during the 1st quarter valued at $484,000. Diversify Wealth Management LLC raised its stake in Cloudflare by 51.3% during the 1st quarter. Diversify Wealth Management LLC now owns 8,850 shares of the company’s stock valued at $1,876,000 after buying an additional 2,999 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Cloudflare by 1,914.8% during the 1st quarter. Fifth Third Bancorp now owns 14,406 shares of the company’s stock valued at $2,973,000 after buying an additional 13,691 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Key Cloudflare News

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: BTIG Research raised its price target on Cloudflare to $314 from $269 and kept a Buy rating, signaling further upside potential for the stock. BTIG raises Cloudflare price target
• Positive Sentiment: Scotiabank upgraded Cloudflare to Sector Outperform with a $300 target, citing AI, agentic traffic, edge computing, and zero-trust security as key growth drivers. Scotiabank upgrades Cloudflare
• Positive Sentiment: Multiple articles highlighted Cloudflare as one of the cloud-computing names best positioned to benefit from AI-driven data-center growth in the second half of 2026. Cloudflare named as a top cloud computing stock
• Positive Sentiment: Coverage around Cloudflare’s deal with OpenAI and broader AI infrastructure buzz has added to optimism that the company can capture more AI-related traffic and demand. Cloudflare deal with OpenAI
• Neutral Sentiment: Director Carl Ledbetter sold 5,000 shares, but the transaction was done under a pre-arranged Rule 10b5-1 plan and is not necessarily a negative fundamental signal. Carl Ledbetter sells Cloudflare shares
• Neutral Sentiment: Recent roundup pieces comparing Cloudflare with other content-delivery stocks did not appear to change the investment thesis materially, but they helped keep NET in the spotlight. Cloudflare versus content delivery peers

Cloudflare Trading Up 0.0%

NYSE:NET opened at $268.46 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market capitalization of $94.89 billion, a price-to-earnings ratio of -1,073.84, a price-to-earnings-growth ratio of 270.32 and a beta of 1.67. Cloudflare, Inc. has a one year low of $158.83 and a one year high of $280.14. The business has a fifty day moving average price of $231.89 and a 200-day moving average price of $207.44.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $639.75 million for the quarter, compared to the consensus estimate of $620.83 million. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.Cloudflare’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 earnings per share. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. Sell-side analysts forecast that Cloudflare, Inc. will post 0.02 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada raised their price target on Cloudflare from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 10th. Citizens Jmp reiterated a “market outperform” rating and set a $270.00 price objective on shares of Cloudflare in a research report on Monday, June 15th. Stifel Nicolaus set a $260.00 target price on Cloudflare in a report on Friday, May 8th. Truist Financial raised their target price on Cloudflare from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Finally, The Goldman Sachs Group cut Cloudflare from a “buy” rating to a “sell” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $245.96.

Insider Activity

In other news, insider Michelle Zatlyn sold 35,080 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 47,425 shares of the company’s stock, valued at $10,148,001.50. This trade represents a 42.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,422 shares of Cloudflare stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $249.09, for a total value of $13,057,795.98. 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 sold 626,185 shares of company stock worth $139,810,855 in the last ninety days. Corporate insiders own 10.66% 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.