SummitTX Capital L.P. Acquires New Shares in Cloudflare, Inc. $NET

SummitTX Capital L.P. bought a new stake in Cloudflare, Inc. (NYSE:NET) during the first quarter, Holdings Channel reports. The institutional investor bought 14,085 shares of the company’s stock, valued at approximately $2,906,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Cloudflare by 0.3% in the 4th 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 in the last quarter. Geode Capital Management LLC boosted its position in 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 boosted its position in Cloudflare by 135.8% during the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company’s stock worth $906,758,000 after purchasing an additional 2,530,872 shares during the period. First Trust Advisors LP grew its holdings in Cloudflare by 1.6% during the fourth 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 during the last quarter. Finally, Invesco Ltd. grew its holdings in 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 purchasing an additional 49,485 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,422 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $249.09, for a total transaction of $13,057,795.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $213.98, for a total transaction of $7,506,418.40. Following the completion of the sale, the insider directly owned 47,425 shares of the company’s stock, valued at approximately $10,148,001.50. This trade represents a 42.52% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 554,912 shares of company stock valued at $125,199,636. Corporate insiders own 10.66% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the topic of a number of recent analyst reports. Mizuho lifted their price target on shares of Cloudflare from $260.00 to $310.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Citigroup reaffirmed a “market outperform” rating on shares of Cloudflare in a report on Monday, July 20th. Needham & Company LLC raised their target price on shares of Cloudflare from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. TD Cowen lifted their target price on shares of Cloudflare from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, New Street Research reissued a “market outperform” rating on shares of Cloudflare in a research report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.19.

Cloudflare Stock Performance

Shares of NYSE NET opened at $265.06 on Wednesday. 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 business’s 50 day moving average is $246.18 and its two-hundred day moving average is $213.39. The company has a market cap of $93.69 billion, a P/E ratio of -1,060.23, a P/E/G ratio of 205.09 and a beta of 1.67. Cloudflare, Inc. has a 12 month low of $158.83 and a 12 month high of $291.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data 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. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.The company had revenue of $639.75 million during the quarter, compared to analysts’ expectations of $620.83 million. During the same period in the prior year, the business earned $0.16 earnings per share. Cloudflare’s revenue for the quarter 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 0.03 EPS for the current year.

Cloudflare Company Profile

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.