Norges Bank Invests $718.32 Million in Cloudflare, Inc. $NET

Norges Bank acquired a new position in Cloudflare, Inc. (NYSE:NET) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,643,501 shares of the company’s stock, valued at approximately $718,316,000.

Several other hedge funds also recently made changes to their positions in NET. Physician Wealth Advisors Inc. increased its position in shares of Cloudflare by 693.3% in the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after acquiring an additional 104 shares in the last quarter. Wiser Advisor Group LLC purchased a new position in shares of Cloudflare in the third quarter worth approximately $26,000. Westside Investment Management Inc. increased its position in shares of Cloudflare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after acquiring an additional 65 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Cloudflare in the third quarter worth approximately $30,000. Finally, Ameriflex Group Inc. increased its position in shares of Cloudflare by 105.6% in the third quarter. Ameriflex Group Inc. now owns 148 shares of the company’s stock worth $32,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of NET opened at $241.82 on Monday. The company’s 50 day moving average price is $208.57 and its 200 day moving average price is $198.67. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 week high of $260.00. The company has a market capitalization of $85.48 billion, a PE ratio of -967.27 and a beta of 1.70. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $639.76 million for the quarter, compared to the consensus estimate of $620.83 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The firm’s revenue was up 33.5% on a year-over-year basis. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS.

Analyst Ratings Changes

Several research firms have recently weighed in on NET. Jefferies Financial Group began coverage on shares of Cloudflare in a research report on Wednesday, April 15th. They issued a “buy” rating on the stock. Barclays lifted their target price on shares of Cloudflare from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Stifel Nicolaus set a $260.00 target price on shares of Cloudflare in a research report on Friday, May 8th. Zacks Research raised shares of Cloudflare from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Finally, KeyCorp downgraded shares of Cloudflare from an “overweight” rating to a “hold” rating in a research report on Wednesday, April 15th. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Cloudflare has an average rating of “Moderate Buy” and an average price target of $236.68.

Insider Buying and Selling

In related news, insider Michelle Zatlyn sold 35,080 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 47,425 shares of the company’s stock, valued at approximately $10,148,001.50. The trade was a 42.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $209.08, for a total transaction of $10,952,446.72. The disclosure for this sale is available in the SEC filing. Insiders have sold 585,862 shares of company stock worth $121,988,011 over the last ninety days. 10.89% of the stock is currently owned by insiders.

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.