North Dakota State Investment Board Makes New Investment in Cloudflare, Inc. $NET

North Dakota State Investment Board purchased a new position in Cloudflare, Inc. (NYSE:NET) in the fourth quarter, HoldingsChannel reports. The firm purchased 11,379 shares of the company’s stock, valued at approximately $2,243,000.

A number of other hedge funds have also modified their holdings of NET. Empowered Funds LLC boosted its position in shares of Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock worth $750,000 after purchasing an additional 1,696 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Cloudflare in the second quarter worth $424,000. Cerity Partners LLC lifted its holdings in shares of Cloudflare by 30.1% in the second quarter. Cerity Partners LLC now owns 27,531 shares of the company’s stock worth $5,391,000 after buying an additional 6,363 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Cloudflare by 40.1% in the second quarter. Sei Investments Co. now owns 329,036 shares of the company’s stock worth $64,432,000 after buying an additional 94,112 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Cloudflare by 14.6% in the second quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company’s stock worth $3,224,000 after buying an additional 2,093 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NET shares. Citigroup started coverage on shares of Cloudflare in a report on Wednesday, April 15th. They issued a “buy” rating on the stock. Piper Sandler reissued an “overweight” rating and issued a $250.00 target price (up from $222.00) on shares of Cloudflare in a report on Friday, May 8th. Morgan Stanley set a $245.00 target price on shares of Cloudflare in a report on Wednesday, February 11th. DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a report on Friday, February 13th. Finally, New Street Research set a $140.00 target price on shares of Cloudflare in a report on Wednesday, February 11th. Eighteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Moderate Buy” and an average target price of $236.68.

Cloudflare Price Performance

Cloudflare stock opened at $201.46 on Tuesday. The company has a market cap of $71.21 billion, a price-to-earnings ratio of -805.84 and a beta of 1.67. The firm’s fifty day moving average is $207.12 and its 200 day moving average is $199.76. 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, Inc. has a 52-week low of $154.03 and a 52-week high of $260.00.

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 analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $639.76 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%. Cloudflare’s revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the firm 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 -0.09 EPS for the current fiscal year.

Insider Activity at Cloudflare

In related news, Director Mark J. Hawkins sold 133 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $211.62, for a total transaction of $28,145.46. Following the sale, the director owned 10,189 shares of the company’s stock, valued at $2,156,196.18. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Graham-Cumming sold 2,520 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $221.58, for a total transaction of $558,381.60. Following the sale, the director directly owned 494,067 shares in the company, valued at approximately $109,475,365.86. The trade was a 0.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 636,246 shares of company stock valued at $125,320,379 over the last quarter. 10.89% of the stock is currently owned by insiders.

Cloudflare 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.