Amundi Acquires 32,804 Shares of Cloudflare, Inc. $NET

Key Points

• Amundi increased its Cloudflare stake by 2% in the first quarter, acquiring 32,804 shares and bringing its holdings to 1.71 million shares worth approximately $352.3 million. Institutional investors collectively own 82.68% of the company.
• Analysts remain broadly positive, with Cloudflare receiving a consensus “Moderate Buy” rating and an average price target of $261.19, although ratings range from “Strong Buy” to “Sell.”
• Cloudflare’s latest quarterly results exceeded expectations, with revenue rising 33.5% year over year to $639.75 million and EPS of $0.25 versus the $0.23 consensus estimate. However, insiders sold roughly 554,912 shares worth $125.2 million during the quarter.

Amundi raised its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,707,256 shares of the company's stock after acquiring an additional 32,804 shares during the quarter. Amundi owned about 0.48% of Cloudflare worth $352,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Regal Partners Ltd increased its stake in shares of Cloudflare by 405.6% in the 1st quarter. Regal Partners Ltd now owns 7,584 shares of the company's stock valued at $1,565,000 after buying an additional 6,084 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Cloudflare by 25.4% during the first quarter. The Manufacturers Life Insurance Company now owns 18,401 shares of the company's stock worth $3,797,000 after buying an additional 3,732 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Cloudflare by 6.9% in the first quarter. Quantinno Capital Management LP now owns 80,100 shares of the company's stock valued at $16,528,000 after buying an additional 5,149 shares during the period. SummitTX Capital L.P. acquired a new position in Cloudflare in the first quarter valued at approximately $2,906,000. Finally, Gateway Wealth Partners LLC boosted its stake in Cloudflare by 219.9% in the first quarter. Gateway Wealth Partners LLC now owns 4,776 shares of the company's stock valued at $985,000 after acquiring an additional 3,283 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NET. Needham & Company LLC increased their target price on Cloudflare from $250.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Raymond James Financial initiated coverage on Cloudflare in a research report on Tuesday, July 7th. They set a "strong-buy" rating for the company. New Street Research reaffirmed a "market outperform" rating on shares of Cloudflare in a research note on Monday, June 15th. Susquehanna increased their price target on shares of Cloudflare from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Cloudflare in a report on Friday, July 17th. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $261.19.

Cloudflare Trading Up 2.5%

NYSE NET opened at $270.58 on Thursday. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 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. The stock's 50 day moving average price is $247.39 and its two-hundred day moving average price is $213.98. The stock has a market capitalization of $95.64 billion, a price-to-earnings ratio of -1,082.32, a PEG ratio of 203.92 and a beta of 1.67.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The company had revenue of $639.75 million during the quarter, compared to analysts' expectations of $620.83 million. During the same period last year, the business earned $0.16 EPS. The business's quarterly revenue was up 33.5% on a year-over-year basis. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. As a group, analysts anticipate that Cloudflare, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In other news, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $219.11, for a total value of $5,618,199.51. Following the completion of the sale, the insider owned 47,425 shares of the company's stock, valued at approximately $10,391,291.75. This represents a 35.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark J. Hawkins sold 133 shares of Cloudflare stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $249.00, for a total transaction of $33,117.00. Following the completion of the transaction, the director directly owned 10,765 shares of the company's stock, valued at approximately $2,680,485. This trade represents a 1.22% decrease in their position. 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. Over the last quarter, insiders have sold 554,912 shares of company stock worth $125,199,636. Insiders own 10.66% of the company's stock.

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.

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