Bank of Hawaii Buys New Position in Cloudflare, Inc. $NET

Key Points

• Bank of Hawaii has acquired a new position in Cloudflare, Inc. during the first quarter, purchasing 6,093 shares valued at approximately $687,000.
• Several institutional investors increased their stakes in Cloudflare, with 82.68% of the stock now owned by such entities, reflecting strong institutional interest.
• Analysts have given Cloudflare a consensus rating of "Moderate Buy", with an average price target of $191.28, following project price increases from multiple financial institutions.

Bank of Hawaii purchased a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,093 shares of the company's stock, valued at approximately $687,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Connective Capital Management LLC acquired a new position in shares of Cloudflare in the 1st quarter worth approximately $1,429,000. Comerica Bank boosted its holdings in Cloudflare by 46.2% during the first quarter. Comerica Bank now owns 12,947 shares of the company's stock worth $1,459,000 after buying an additional 4,091 shares in the last quarter. MetLife Investment Management LLC grew its position in Cloudflare by 1.3% in the first quarter. MetLife Investment Management LLC now owns 18,729 shares of the company's stock worth $2,111,000 after buying an additional 244 shares during the last quarter. ICONIQ Capital LLC bought a new position in shares of Cloudflare in the first quarter valued at $227,000. Finally, Oribel Capital Management LP bought a new position in shares of Cloudflare in the first quarter valued at $3,279,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NET has been the subject of several research reports. KeyCorp raised their price objective on Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Wells Fargo & Company increased their price target on Cloudflare from $225.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley lifted their price target on Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Cowen reaffirmed a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Finally, Robert W. Baird raised their target price on shares of Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Cloudflare currently has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 59,130 shares of the stock in a transaction on Monday, July 28th. The stock was 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 directly owned 241,550 shares in the company, valued at approximately $48,382,465. This trade represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Friday, June 13th. The shares were sold at an average price of $171.25, for a total value of $8,970,760.00. Following the sale, the chief executive officer directly owned 381,213 shares of the company's stock, valued at approximately $65,282,726.25. The trade was a 12.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 630,323 shares of company stock valued at $118,661,105. 10.89% of the stock is owned by insiders.

Cloudflare Trading Up 1.6%

NYSE:NET opened at $195.9330 on Monday. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $219.00. The stock's 50-day moving average is $193.75 and its two-hundred day moving average is $156.93. The stock has a market cap of $68.28 billion, a PE ratio of -576.27 and a beta of 1.84.

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. The business had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The firm's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare Company Profile

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.

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