4,261 Cloudflare, Inc. $NET Shares Purchased by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board increased its Cloudflare stake by 40.6% in the third quarter, purchasing 4,261 shares and bringing its holdings to 14,762 shares valued at approximately $5.13 million.
• Institutional investors own 82.68% of Cloudflare, while several major funds—including Jennison Associates and Swedbank—also expanded their positions.
• Cloudflare reported quarterly revenue of $696.06 million, up 35.9% year over year, and exceeded analysts’ EPS expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $331.33, although insiders sold $143.4 million of stock over the past 90 days.

North Dakota State Investment Board lifted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 40.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,762 shares of the company's stock after purchasing an additional 4,261 shares during the quarter. North Dakota State Investment Board's holdings in Cloudflare were worth $5,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC increased its position in shares of Cloudflare by 135.8% in the 1st quarter. Jennison Associates LLC now owns 4,394,484 shares of the company's stock valued at $906,758,000 after buying an additional 2,530,872 shares in the last quarter. Amundi lifted its holdings in Cloudflare by 2.0% during the first quarter. Amundi now owns 1,707,256 shares of the company's stock worth $352,275,000 after acquiring an additional 32,804 shares in the last quarter. National Pension Service lifted its holdings in Cloudflare by 1.6% during the second quarter. National Pension Service now owns 959,987 shares of the company's stock worth $235,466,000 after acquiring an additional 15,546 shares in the last quarter. Swedbank AB grew its stake in Cloudflare by 697.5% in the first quarter. Swedbank AB now owns 927,606 shares of the company's stock valued at $191,402,000 after acquiring an additional 811,297 shares during the period. Finally, Swiss National Bank grew its stake in Cloudflare by 8.1% in the first quarter. Swiss National Bank now owns 927,200 shares of the company's stock valued at $191,318,000 after acquiring an additional 69,800 shares during the period. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Down 2.9%

NET stock opened at $318.16 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market capitalization of $112.46 billion, a P/E ratio of -548.54, a P/E/G ratio of 259.07 and a beta of 1.65. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $370.35. The business has a 50-day moving average of $320.38 and a 200-day moving average of $246.69.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.02. The business had revenue of $696.06 million for the quarter, compared to analyst estimates of $664.66 million. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%. Cloudflare's revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 EPS. 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 anticipate that Cloudflare, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other news, CFO Thomas Seifert sold 55,000 shares of Cloudflare stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $300.30, for a total value of $16,516,500.00. Following the sale, the chief financial officer directly owned 113,790 shares in the company, valued at $34,171,137. This trade represents a 32.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $294.63, for a total transaction of $9,723,673.89. Following the completion of the sale, the insider directly owned 69,775 shares in the company, valued at approximately $20,557,808.25. This represents a 32.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 476,339 shares of company stock valued at $143,439,267 in the last ninety days. 10.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NET has been the subject of several recent analyst reports. UBS Group increased their price target on Cloudflare from $250.00 to $350.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Truist Financial lifted their price objective on Cloudflare from $300.00 to $350.00 and gave the company a "buy" rating in a report on Friday, August 7th. Guggenheim lifted their price objective on Cloudflare from $140.00 to $160.00 and gave the company a "sell" rating in a report on Friday, August 7th. Scotiabank boosted their price objective on Cloudflare from $300.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Finally, Jefferies Financial Group set a $350.00 target price on Cloudflare in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $331.33.

About Cloudflare

Cloudflare, Inc NYSE: NET provides cloud connectivity, security and performance services for websites, applications, corporate networks and other internet-connected resources. Its global network is designed to help organizations improve the reliability, speed and security of digital services while reducing the complexity of managing internet infrastructure.

The company's offerings include content delivery and authoritative domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.

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