Bank of Nova Scotia Has $6.17 Million Holdings in Cloudflare, Inc. $NET

Bank of Nova Scotia trimmed its position in Cloudflare, Inc. (NYSE:NET) by 74.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,892 shares of the company’s stock after selling 89,154 shares during the period. Bank of Nova Scotia’s holdings in Cloudflare were worth $6,169,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. HM Payson & Co. bought a new position in shares of Cloudflare in the 4th quarter valued at about $25,000. Wiser Advisor Group LLC acquired a new position in Cloudflare during the third quarter worth approximately $26,000. Wexford Capital LP bought a new stake in Cloudflare in the third quarter valued at approximately $30,000. Brown Brothers Harriman & Co. lifted its position in shares of Cloudflare by 55.4% in the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock valued at $34,000 after buying an additional 56 shares during the last quarter. Finally, Rachor Investment Advisory Services LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at approximately $35,000. 82.68% of the stock is currently owned by institutional investors.

Insider Activity at Cloudflare

In other news, Director Carl Ledbetter sold 5,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 888,073 shares in the company, valued at $238,101,252.03. This trade represents a 0.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark J. Hawkins sold 133 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $249.00, for a total value of $33,117.00. Following the sale, the director owned 10,765 shares of the company’s stock, valued at approximately $2,680,485. This represents a 1.22% 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 554,912 shares of company stock worth $125,199,636 over the last quarter. 10.66% of the stock is owned by company insiders.

Cloudflare Stock Performance

NYSE NET opened at $265.43 on Tuesday. The firm’s fifty day moving average price is $245.01 and its two-hundred day moving average price is $212.96. The stock has a market cap of $93.82 billion, a PE ratio of -1,061.73, a PEG ratio of 202.42 and a beta of 1.67. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $291.00. 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 posted 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. The firm had revenue of $639.75 million for the quarter, compared to analyst estimates of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. On average, equities analysts expect that Cloudflare, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

NET has been the subject of several research reports. Zacks Research raised Cloudflare from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Royal Bank Of Canada reissued an “outperform” rating and issued a $290.00 price objective on shares of Cloudflare in a research report on Thursday, July 16th. Piper Sandler restated an “overweight” rating on shares of Cloudflare in a research note on Wednesday, June 10th. Needham & Company LLC upped their price target on shares of Cloudflare from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, KeyCorp reissued an “overweight” rating on shares of Cloudflare in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $261.19.

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.