California Public Employees Retirement System Sells 137,675 Shares of Cloudflare, Inc. $NET

California Public Employees Retirement System cut its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 26.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 391,272 shares of the company’s stock after selling 137,675 shares during the period. California Public Employees Retirement System owned 0.11% of Cloudflare worth $80,735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NET. Vanguard Group Inc. boosted its holdings 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Cloudflare by 4.2% in the 4th 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. First Trust Advisors LP raised its stake in 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 buying an additional 63,198 shares in the last quarter. Invesco Ltd. lifted its holdings in 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 buying an additional 49,485 shares during the period. Finally, Norges Bank bought a new stake in Cloudflare during the 4th quarter valued at approximately $718,316,000. Institutional investors own 82.68% of the company’s stock.

Cloudflare News Summary

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Morgan Stanley raised its price target on Cloudflare from $305 to $322 and reiterated an overweight rating, signaling stronger confidence in the company’s upside. This kind of analyst upgrade can help support the stock. Morgan Stanley price target increase on Cloudflare
• Positive Sentiment: Cloudflare launched Precursor, a new bot-management product designed to detect sophisticated automated attacks in real time. The launch reinforces the company’s cybersecurity and privacy narrative, which is a key driver of investor optimism. Cloudflare launches Precursor
• Positive Sentiment: Recent commentary continues to highlight Cloudflare as a beneficiary of rising demand for cybersecurity and AI infrastructure, and the stock has also been mentioned favorably in momentum-stock and “best cybersecurity stocks” roundups. Cloudflare momentum stock article
• Neutral Sentiment: Other recent articles emphasize Cloudflare’s strong three-year run and rising fair-value estimates, but also note that the shares already trade at a rich valuation. That may limit near-term upside if growth does not keep accelerating. Cloudflare valuation article
• Neutral Sentiment: The stock also got a “gains as market dips” mention, reflecting relative strength versus the broader market rather than a company-specific catalyst. Cloudflare gains as market dips article

Cloudflare Price Performance

Shares of NET opened at $277.84 on Monday. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $291.00. The firm’s 50-day simple moving average is $236.36 and its two-hundred day simple moving average is $210.01. The stock has a market cap of $98.21 billion, a PE ratio of -1,111.37, a price-to-earnings-growth ratio of 283.00 and a beta of 1.67. 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 released its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 $639.75 million during the quarter, compared to analyst estimates of $620.83 million. During the same period last year, the business earned $0.16 earnings per share. The business’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. Analysts anticipate that Cloudflare, Inc. will post 0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NET. Guggenheim reissued a “sell” rating and issued a $140.00 target price on shares of Cloudflare in a research report on Wednesday, June 10th. Wells Fargo & Company assumed coverage on Cloudflare in a research report on Tuesday, July 7th. They set a “neutral” rating on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $290.00 price target on shares of Cloudflare in a research note on Thursday. UBS Group increased their price objective on Cloudflare from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, June 10th. Finally, Jefferies Financial Group downgraded Cloudflare from a “buy” rating to a “hold” rating in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $253.41.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,422 shares of Cloudflare stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $249.09, for a total transaction of $13,057,795.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Cloudflare stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $213.98, for a total value of $7,506,418.40. Following the transaction, the insider owned 47,425 shares of the company’s stock, valued at $10,148,001.50. The trade was a 42.52% 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. In the last ninety days, insiders have sold 590,544 shares of company stock valued at $132,719,009. 10.66% of the stock is owned by corporate insiders.

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.