48,806 Cloudflare, Inc. $NET Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Cloudflare position by 119.7% in the third quarter, acquiring 48,806 additional shares for a total holding of 89,582 shares valued at approximately $31.1 million.
• Institutional ownership stands at 82.68%, while several other funds also initiated or expanded positions. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $330.59.
• Cloudflare recently exceeded quarterly expectations, reporting $696.1 million in revenue and $0.29 EPS, though insiders sold 458,839 shares worth roughly $138.2 million over the past 90 days.

Assenagon Asset Management S.A. boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 119.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,582 shares of the company's stock after acquiring an additional 48,806 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Cloudflare were worth $31,110,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NET. Formuepleje A S purchased a new position in shares of Cloudflare during the third quarter valued at $585,000. Mainsail Asset Management LLC purchased a new position in Cloudflare in the third quarter worth $229,000. Covenant Asset Management LLC purchased a new position in Cloudflare during the 3rd quarter worth $5,709,000. First Pacific Financial increased its holdings in shares of Cloudflare by 2,580.0% during the third quarter. First Pacific Financial now owns 134 shares of the company's stock valued at $47,000 after acquiring an additional 129 shares in the last quarter. Finally, Fortitude Family Office LLC raised its stake in Cloudflare by 24.3% in the 3rd quarter. Fortitude Family Office LLC now owns 281 shares of the company's stock worth $98,000 after acquiring an additional 55 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Cloudflare from $290.00 to $346.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Susquehanna upped their target price on Cloudflare from $200.00 to $300.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Zacks Research cut Cloudflare from a "hold" rating to a "strong sell" rating in a report on Wednesday. Cantor Fitzgerald reissued a "neutral" rating and issued a $340.00 target price on shares of Cloudflare in a research report on Monday, October 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Cloudflare to a "buy" rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, six have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $330.59.

Insider Transactions at Cloudflare

In related news, insider Michelle Zatlyn sold 33,003 shares of the business's stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $348.29, for a total value of $11,494,614.87. Following the transaction, the insider owned 69,775 shares in the company, valued at $24,301,934.75. The trade was a 32.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alissa Michelle Starzak sold 2,538 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $304.68, for a total value of $773,277.84. Following the completion of the transaction, the insider directly owned 112,082 shares in the company, valued at approximately $34,149,143.76. The trade was a 2.21% 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 a total of 458,839 shares of company stock valued at $138,172,392 over the last ninety days. 10.66% of the stock is owned by insiders.

Cloudflare Price Performance

Shares of NYSE NET opened at $295.48 on Friday. The firm has a market capitalization of $104.44 billion, a PE ratio of -509.44, a price-to-earnings-growth ratio of 235.66 and a beta of 1.65. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.82 and a current ratio of 1.82. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $370.35. The stock's 50-day simple moving average is $319.50 and its 200-day simple moving average is $264.00.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The business had revenue of $696.06 million during the quarter, compared to analysts' expectations of $664.66 million. During the same quarter in the prior year, the business posted $0.21 EPS. The company's revenue for the quarter 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. As a group, equities research analysts forecast that Cloudflare, Inc. will post 0.03 EPS for the current fiscal year.

Cloudflare Company Profile

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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