AustralianSuper Pty Ltd Has $82.20 Million Stock Holdings in Cloudflare, Inc. $NET

Key Points

• AustralianSuper Pty Ltd cut its Cloudflare stake by 19% in the fourth quarter, but still held 416,958 shares worth about $82.2 million at quarter-end.
• Cloudflare reported better-than-expected Q1 results, with EPS of $0.25 versus $0.23 expected and revenue of $639.76 million, up 33.5% year over year.
• Insider selling has been significant, including share sales by Michelle Zatlyn and CEO Matthew Prince; over the last 90 days, insiders sold 636,246 shares worth about $125.3 million.

AustralianSuper Pty Ltd decreased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 416,958 shares of the company's stock after selling 98,074 shares during the period. AustralianSuper Pty Ltd owned 0.12% of Cloudflare worth $82,203,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans bought a new position in Cloudflare in the 4th quarter valued at $5,543,000. Pinnacle Associates Ltd. raised its position in shares of Cloudflare by 24.2% during the fourth quarter. Pinnacle Associates Ltd. now owns 2,755 shares of the company's stock worth $543,000 after acquiring an additional 536 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Cloudflare by 275.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 37,072 shares of the company's stock valued at $7,348,000 after acquiring an additional 27,202 shares during the period. Western Wealth Management LLC boosted its holdings in Cloudflare by 2.7% in the fourth quarter. Western Wealth Management LLC now owns 8,495 shares of the company's stock valued at $1,675,000 after acquiring an additional 223 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Cloudflare by 43.3% in the fourth quarter. Allworth Financial LP now owns 2,835 shares of the company's stock valued at $559,000 after acquiring an additional 857 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In other Cloudflare news, insider Michelle Zatlyn sold 35,080 shares of the business's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $187.39, for a total transaction of $6,573,641.20. Following the sale, the insider directly owned 34,514 shares of the company's stock, valued at $6,467,578.46. The trade was a 50.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $173.78, for a total transaction of $9,103,291.52. Following the transaction, the chief executive officer owned 22,911 shares of the company's stock, valued at approximately $3,981,473.58. This represents a 69.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 636,246 shares of company stock worth $125,320,379. 10.89% of the stock is owned by insiders.

Cloudflare Stock Up 3.5%

Cloudflare stock opened at $199.36 on Friday. The company has a 50 day moving average of $206.72 and a 200-day moving average of $200.11. The company has a quick ratio of 1.98, a current ratio of 1.96 and a debt-to-equity ratio of 1.29. Cloudflare, Inc. has a twelve month low of $150.59 and a twelve month high of $260.00. The stock has a market capitalization of $70.17 billion, a PE ratio of -797.42 and a beta of 1.67.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $639.76 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%.The company's revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on NET shares. Barclays boosted their price objective on Cloudflare from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, February 11th. Mizuho lowered their price target on shares of Cloudflare from $255.00 to $235.00 and set an "outperform" rating for the company in a research report on Tuesday, April 14th. Piper Sandler reissued an "overweight" rating and set a $250.00 price target (up from $222.00) on shares of Cloudflare in a research note on Friday, May 8th. Morgan Stanley set a $245.00 price objective on shares of Cloudflare in a report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cloudflare in a report on Monday, April 20th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Cloudflare has a consensus rating of "Moderate Buy" and a consensus price target of $236.68.

Cloudflare 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.

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