Cloudflare, Inc. $NET is Whetstone Capital Advisors LLC’s 2nd Largest Position

Whetstone Capital Advisors LLC cut its position in Cloudflare, Inc. (NYSE:NET) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 293,031 shares of the company’s stock after selling 18,154 shares during the period. Cloudflare comprises 18.0% of Whetstone Capital Advisors LLC’s portfolio, making the stock its 2nd largest holding. Whetstone Capital Advisors LLC owned approximately 0.08% of Cloudflare worth $57,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Cloudflare by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 32,407,646 shares of the company’s stock worth $6,389,167,000 after purchasing an additional 90,397 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cloudflare by 4.2% in 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 in the last quarter. First Trust Advisors LP increased its stake in shares of Cloudflare by 1.6% in the fourth quarter. First Trust Advisors LP now owns 4,019,157 shares of the company’s stock worth $792,377,000 after purchasing an additional 63,198 shares in the last quarter. Invesco Ltd. increased its stake in shares of Cloudflare by 1.3% in the third quarter. Invesco Ltd. now owns 3,964,733 shares of the company’s stock worth $850,792,000 after purchasing an additional 49,485 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Cloudflare in the fourth quarter worth $718,316,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, 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 transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $210.02, for a total transaction of $11,001,687.68. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 475,400 shares of company stock worth $100,851,370 over the last 90 days. 10.66% of the stock is owned by insiders.

Cloudflare Price Performance

Shares of NYSE:NET opened at $227.91 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a fifty day moving average price of $216.10 and a 200 day moving average price of $201.73. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $276.82. The firm has a market cap of $80.56 billion, a price-to-earnings ratio of -911.62, a P/E/G ratio of 481.14 and a beta of 1.70.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $620.83 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. Cloudflare’s revenue for the quarter 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. As a group, sell-side analysts expect that Cloudflare, Inc. will post 0.01 earnings per share for the current fiscal year.

Key Headlines Impacting Cloudflare

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Truist Financial raised its price target on Cloudflare to $250 from $225 and reiterated a buy rating, implying further upside from current levels. Truist raises Cloudflare price target
• Positive Sentiment: Morgan Stanley also sharply increased its Cloudflare price target, adding to the bullish analyst backdrop and reinforcing the view that expectations for the company are improving. Morgan Stanley raises Cloudflare price target
• Positive Sentiment: Barclays kept a buy rating on Cloudflare, while other reports noted Wall Street’s overall average recommendation remains equivalent to a Buy, supporting investor confidence in the stock. Barclays keeps buy rating on Cloudflare
• Positive Sentiment: Zacks said Cloudflare may be well poised for a surge because of solid earnings estimate revisions, which often signals improving fundamentals and stronger near-term sentiment. Zacks says Cloudflare may surge
• Neutral Sentiment: Jim Cramer commented that Cloudflare’s long-term direction looks “pretty fabulous,” but also noted the stock has been volatile, making the takeaway more of a commentary on long-term prospects than a direct catalyst. Jim Cramer comments on Cloudflare
• Negative Sentiment: One report flagged a new sell recommendation for Cloudflare, suggesting some analysts remain cautious despite the broader bullish tone. Cloudflare new sell recommendation

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NET. Mizuho increased their price objective on shares of Cloudflare from $235.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday. New Street Research restated a “market outperform” rating on shares of Cloudflare in a research report on Monday. Citigroup restated a “market outperform” rating on shares of Cloudflare in a research report on Monday. UBS Group upped their target price on shares of Cloudflare from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Morgan Stanley restated an “overweight” rating and set a $305.00 target price on shares of Cloudflare in a research report on Thursday, June 4th. Twenty-one equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $241.35.

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.