SummitTX Capital L.P. Takes $2.91 Million Position in Cloudflare, Inc. $NET

SummitTX Capital L.P. acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,085 shares of the company’s stock, valued at approximately $2,906,000.

Several other institutional investors have also bought and sold shares of NET. Lingotto Investment Management LLP acquired a new stake in shares of Cloudflare during the 4th quarter valued at $34,626,000. Trek Financial LLC acquired a new position in shares of Cloudflare in the 4th quarter worth $1,793,000. Jupiter Asset Management Ltd. grew its holdings in shares of Cloudflare by 1,984.7% in the 4th quarter. Jupiter Asset Management Ltd. now owns 197,710 shares of the company’s stock worth $38,979,000 after acquiring an additional 188,226 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Cloudflare by 25.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,639,661 shares of the company’s stock worth $323,259,000 after purchasing an additional 336,768 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in shares of Cloudflare by 17.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company’s stock worth $284,900,000 after purchasing an additional 206,506 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NET. Citigroup reaffirmed a “market outperform” rating on shares of Cloudflare in a report on Monday, July 20th. Scotiabank upgraded Cloudflare from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $225.00 to $300.00 in a report on Tuesday, July 7th. Citizens Jmp boosted their price objective on Cloudflare from $270.00 to $330.00 and gave the stock a “market outperform” rating in a report on Monday, July 20th. Stifel Nicolaus set a $260.00 price objective on shares of Cloudflare in a research note on Friday, May 8th. Finally, New Street Research reiterated a “market outperform” rating on shares of Cloudflare in a report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Cloudflare has a consensus rating of “Moderate Buy” and an average price target of $261.19.

Insider Activity

In related news, CEO Matthew Prince sold 52,422 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $249.09, for a total transaction of $13,057,795.98. The transaction was disclosed in a legal filing 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, insider Michelle Zatlyn sold 35,080 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 47,425 shares in the company, valued at $10,148,001.50. The trade was a 42.52% 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. In the last ninety days, insiders have sold 554,912 shares of company stock worth $125,199,636. Company insiders own 10.66% of the company’s stock.

Cloudflare Price Performance

NET opened at $265.06 on Wednesday. The stock has a fifty day moving average of $246.18 and a 200-day moving average of $213.39. The firm has a market capitalization of $93.69 billion, a P/E ratio of -1,060.23, a PEG ratio of 205.09 and a beta of 1.67. Cloudflare, Inc. has a 12-month low of $158.83 and a 12-month high of $291.00. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $639.75 million for the quarter, compared to the consensus estimate of $620.83 million. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.Cloudflare’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. Equities analysts forecast that Cloudflare, Inc. will post 0.03 EPS for the current fiscal year.

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.