Public Employees Retirement System of Ohio Has $22.80 Million Stock Position in Cloudflare, Inc. $NET

Public Employees Retirement System of Ohio lifted its position in Cloudflare, Inc. (NYSE:NET) by 17.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,510 shares of the company’s stock after buying an additional 16,150 shares during the period. Public Employees Retirement System of Ohio’s holdings in Cloudflare were worth $22,803,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 period. Geode Capital Management LLC raised its position in shares of Cloudflare by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 6,018,175 shares of the company’s stock worth $1,184,044,000 after purchasing an additional 241,981 shares during the period. Jennison Associates LLC lifted its holdings in shares of Cloudflare by 135.8% during the 1st quarter. Jennison Associates LLC now owns 4,394,484 shares of the company’s stock valued at $906,758,000 after purchasing an additional 2,530,872 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Cloudflare by 1.6% during the 4th quarter. First Trust Advisors LP now owns 4,019,157 shares of the company’s stock valued at $792,377,000 after purchasing an additional 63,198 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Cloudflare by 1.3% in the 3rd quarter. Invesco Ltd. now owns 3,964,733 shares of the company’s stock valued at $850,792,000 after purchasing an additional 49,485 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,422 shares of Cloudflare stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $249.09, for a total value of $13,057,795.98. The sale was disclosed in a document filed with the SEC, which is available 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 the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $213.98, for a total transaction of $7,506,418.40. Following the sale, 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 564,903 shares of company stock valued at $127,356,194. 10.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on NET shares. BTIG Research increased their target price on Cloudflare from $269.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. UBS Group lifted their price target 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. Susquehanna upped their price target on shares of Cloudflare from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Needham & Company LLC increased their price objective on shares of Cloudflare from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company raised their price objective on shares of Cloudflare from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.19.

Cloudflare Price Performance

Shares of NET opened at $262.72 on Friday. The stock has a market capitalization of $92.86 billion, a P/E ratio of -1,050.87, a P/E/G ratio of 267.19 and a beta of 1.67. Cloudflare, Inc. has a twelve month low of $158.83 and a twelve month high of $291.00. The company has a 50 day moving average of $243.73 and a 200-day moving average of $212.38. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 3.72% and a negative return on equity of 5.65%. The firm’s revenue was up 33.5% compared to the same quarter last year. During the same period last year, the company 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. As a group, equities research analysts forecast that Cloudflare, Inc. will post 0.03 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.