Fifth Third Bancorp Grows Position in Cloudflare, Inc. $NET

Fifth Third Bancorp grew its holdings in Cloudflare, Inc. (NYSE:NET) by 1,914.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,406 shares of the company’s stock after purchasing an additional 13,691 shares during the period. Fifth Third Bancorp’s holdings in Cloudflare were worth $2,973,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NET. Wiser Advisor Group LLC bought a new stake in shares of Cloudflare during the 3rd quarter valued at $26,000. HM Payson & Co. bought a new stake in shares of Cloudflare during the fourth quarter valued at about $25,000. Wexford Capital LP bought a new stake in shares of Cloudflare during the third quarter valued at about $30,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Cloudflare by 55.4% in the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Finally, Rachor Investment Advisory Services LLC bought a new position in shares of Cloudflare in the fourth quarter valued at approximately $35,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Price Performance

NET opened at $272.27 on Tuesday. The stock’s 50 day simple moving average is $237.94 and its 200 day simple moving average is $210.52. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.96 and a quick ratio of 1.96. Cloudflare, Inc. has a 1 year low of $158.83 and a 1 year high of $291.00. The firm has a market cap of $96.24 billion, a price-to-earnings ratio of -1,089.08, a PEG ratio of 283.00 and a beta of 1.67.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $639.75 million for the quarter, compared to analysts’ expectations of $620.83 million. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.Cloudflare’s quarterly revenue was up 33.5% on a year-over-year basis. During the same period last 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. As a group, analysts predict that Cloudflare, Inc. will post 0.02 earnings per share for the current year.

Insider Activity at Cloudflare

In related news, Director Carl Ledbetter sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $268.11, for a total value of $1,340,550.00. Following the sale, the director owned 888,073 shares in the company, valued at $238,101,252.03. This represents a 0.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,383 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $247.28, for a total value of $12,953,268.24. 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. Insiders sold a total of 590,544 shares of company stock valued at $132,719,009 over the last ninety days. Insiders own 10.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NET. Stifel Nicolaus set a $260.00 target price on shares of Cloudflare in a report on Friday, May 8th. BTIG Research increased their price objective on Cloudflare from $269.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. The Goldman Sachs Group cut Cloudflare from a “buy” rating to a “sell” rating in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded Cloudflare to a “buy” rating in a research note on Tuesday, July 7th. Finally, Susquehanna lifted their price target on Cloudflare from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $256.74.

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.