Andra AP fonden Decreases Stake in Cloudflare, Inc. $NET

Key Points

• Andra AP fonden cut its Cloudflare stake by 30.2% in the first quarter, selling 14,475 shares and leaving it with 33,456 shares valued at about $6.9 million.
• Cloudflare reported stronger-than-expected quarterly results, with EPS of $0.25 versus estimates of $0.23 and revenue of $639.75 million, up 33.5% year over year.
• Wall Street remains mostly constructive on NET despite some mixed calls, with a consensus rating of “Moderate Buy” and an average price target of $258.59; several brokers recently raised targets to as high as $310.

Andra AP fonden lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 30.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,456 shares of the company's stock after selling 14,475 shares during the period. Andra AP fonden's holdings in Cloudflare were worth $6,903,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NET. Cassaday & Co Wealth Management LLC acquired a new stake in Cloudflare in the 1st quarter valued at about $53,000. Florida Financial Advisors LLC boosted its holdings in shares of Cloudflare by 22.4% during the 1st quarter. Florida Financial Advisors LLC now owns 5,611 shares of the company's stock worth $1,158,000 after purchasing an additional 1,025 shares during the last quarter. Earned Wealth Advisors LLC grew its position in shares of Cloudflare by 2.9% in the first quarter. Earned Wealth Advisors LLC now owns 2,119 shares of the company's stock valued at $437,000 after purchasing an additional 60 shares in the last quarter. Hollencrest Capital Management grew its position in shares of Cloudflare by 153.9% in the first quarter. Hollencrest Capital Management now owns 358 shares of the company's stock valued at $74,000 after purchasing an additional 217 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its position in shares of Cloudflare by 14.9% in the first quarter. Meeder Advisory Services Inc. now owns 8,155 shares of the company's stock valued at $1,683,000 after purchasing an additional 1,058 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Trading Down 1.3%

Shares of Cloudflare stock opened at $268.86 on Thursday. The stock has a 50 day moving average of $241.16 and a 200 day moving average of $211.56. 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 firm has a market capitalization of $95.04 billion, a price-to-earnings ratio of -1,075.46, a PEG ratio of 277.55 and a beta of 1.67. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $291.00.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.The company had revenue of $639.75 million for the quarter, compared to the consensus estimate of $620.83 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The company's revenue for the quarter 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, research analysts predict that Cloudflare, Inc. will post 0.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NET. Sanford C. Bernstein reiterated a "market perform" rating and set a $136.00 price objective on shares of Cloudflare in a research report on Wednesday, June 10th. Wells Fargo & Company upped their target price on Cloudflare from $270.00 to $300.00 and gave the company an "overweight" rating in a report on Monday. Benchmark downgraded Cloudflare to an "underperform" rating in a research note on Tuesday, July 7th. Barclays lifted their price target on Cloudflare from $250.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Finally, Mizuho boosted their price target on shares of Cloudflare from $260.00 to $310.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.59.

Insider Transactions at Cloudflare

In related news, Director Mark J. Hawkins sold 133 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $249.00, for a total transaction of $33,117.00. Following the transaction, the director owned 10,765 shares of the company's stock, valued at approximately $2,680,485. This represents a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,383 shares of the firm's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $247.28, for a total value of $12,953,268.24. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 564,903 shares of company stock worth $127,356,194. 10.66% of the stock is owned by corporate insiders.

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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