Public Employees Retirement System of Ohio Acquires New Position in Cloudflare, Inc. $NET

Public Employees Retirement System of Ohio bought a new position in Cloudflare, Inc. (NYSE:NET) in the second quarter, Holdings Channel reports. The firm bought 124,328 shares of the company’s stock, valued at approximately $30,495,000.

Other hedge funds have also bought and sold shares of the company. HM Payson & Co. purchased a new position in shares of Cloudflare in the fourth quarter worth $25,000. Wiser Advisor Group LLC acquired a new position in shares of Cloudflare in the 3rd quarter valued at $26,000. Wexford Capital LP acquired a new position in shares of Cloudflare in the 3rd quarter valued at $30,000. C M Bidwell & Associates Ltd. purchased a new position in Cloudflare in the 2nd quarter worth $30,000. Finally, CX Institutional lifted its position in Cloudflare by 49.4% during the 2nd quarter. CX Institutional now owns 133 shares of the company’s stock worth $33,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Down 2.8%

Shares of NET opened at $299.69 on Friday. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 week high of $332.22. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $105.93 billion, a price-to-earnings ratio of -516.71, a PEG ratio of 189.27 and a beta of 1.65. The stock’s 50-day moving average price is $274.42 and its 200-day moving average price is $231.62.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The company had revenue of $696.06 million during the quarter, compared to analysts’ expectations of $664.66 million. During the same period last year, the business earned $0.21 earnings per share. Cloudflare’s quarterly revenue was up 35.9% on a year-over-year basis. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. On average, sell-side analysts predict that Cloudflare, Inc. will post 0.03 EPS for the current year.

Insider Activity

In other news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $307.32, for a total transaction of $3,073,200.00. Following the sale, the chief financial officer directly owned 110,846 shares of the company’s stock, valued at $34,065,192.72. This represents a 8.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Janel Riley sold 3,481 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $305.26, for a total value of $1,062,610.06. Following the sale, the chief accounting officer owned 41,547 shares in the company, valued at $12,682,637.22. This trade represents a 7.73% decrease in their ownership of the stock. 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 640,531 shares of company stock valued at $168,474,753 in the last three months. Corporate insiders own 10.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NET. Deutsche Bank Aktiengesellschaft upgraded Cloudflare to a “buy” rating in a research note on Tuesday, July 7th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $136.00 target price on shares of Cloudflare in a report on Wednesday, June 10th. Barclays upped their target price on Cloudflare from $300.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. TD Cowen raised their price target on shares of Cloudflare from $300.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Truist Financial lifted their price objective on shares of Cloudflare from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Cloudflare has an average rating of “Moderate Buy” and a consensus price target of $320.19.

Cloudflare 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.