Banco Bilbao Vizcaya Argentaria S.A. Cuts Position in Cloudflare, Inc. $NET

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in Cloudflare, Inc. by 78.4%, now holding $2.34 million in shares after selling 76,377 during the first quarter.
• A range of institutional investors have significantly increased their holdings in Cloudflare, with Mather Group LLC boosting its position by 1,188.2% during the same period.
• Insider transactions saw CFO Thomas J. Seifert sell 41,555 shares for approximately $7.9 million, demonstrating a 17.98% decrease in his position.

Banco Bilbao Vizcaya Argentaria S.A. lowered its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 78.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 21,047 shares of the company's stock after selling 76,377 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Cloudflare were worth $2,344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fred Alger Management LLC boosted its position in Cloudflare by 856.3% during the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock valued at $100,604,000 after buying an additional 836,591 shares during the period. Nuveen LLC purchased a new stake in shares of Cloudflare during the first quarter valued at approximately $88,203,000. American Century Companies Inc. boosted its holdings in Cloudflare by 34.5% in the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after purchasing an additional 779,819 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Cloudflare by 129.7% during the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock valued at $123,647,000 after buying an additional 619,526 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Cloudflare by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock worth $3,475,011,000 after purchasing an additional 538,850 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Stock Up 1.6%

NET traded up $3.1630 during trading hours on Friday, hitting $195.9330. 1,416,685 shares of the company's stock were exchanged, compared to its average volume of 2,910,497. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 12-month low of $74.88 and a 12-month high of $219.00. The firm has a market cap of $68.28 billion, a P/E ratio of -576.27 and a beta of 1.84. The firm has a 50 day moving average of $193.75 and a 200 day moving average of $156.93.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm's revenue was up 27.8% on a year-over-year basis. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. Analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 34,270 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $200.17, for a total value of $6,859,825.90. Following the completion of the sale, the chief financial officer owned 241,550 shares in the company, valued at $48,351,063.50. This represents a 12.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 59,130 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the completion of the sale, the chief financial officer owned 241,550 shares of the company's stock, valued at approximately $48,382,465. This trade represents a 19.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 630,323 shares of company stock worth $118,661,105. Corporate insiders own 10.89% of the company's stock.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of research reports. Oppenheimer restated an "outperform" rating and issued a $200.00 target price (up from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Cowen reiterated a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. DZ Bank reissued a "sell" rating and set a $170.00 target price on shares of Cloudflare in a research report on Tuesday, July 22nd. Guggenheim raised their target price on shares of Cloudflare from $70.00 to $111.00 and gave the stock a "sell" rating in a report on Friday, August 1st. Finally, CICC Research raised shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 target price on the stock in a research note on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $191.28.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.