Northern Trust Corp Grows Stake in Cloudflare, Inc. $NET

Key Points

• Northern Trust Corp increased its stake in Cloudflare, owning approximately 1,880,888 shares valued at $211.96 million after a 1.7% increase in the first quarter.
• Analyst ratings for Cloudflare have varied, with price targets ranging from $150.00 to $240.00, and a consensus rating of "Moderate Buy" with an average target price of $191.28.
• Cloudflare reported $0.21 earnings per share for its last quarter, exceeding estimates, and provided FY 2025 guidance of $0.850-0.860 EPS.

Northern Trust Corp increased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,880,888 shares of the company's stock after buying an additional 31,745 shares during the quarter. Northern Trust Corp owned about 0.55% of Cloudflare worth $211,957,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Mather Group LLC. grew its holdings in shares of Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after buying an additional 202 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Cloudflare during the first quarter valued at $27,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after buying an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after buying an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare during the fourth quarter valued at $43,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NET. Cantor Fitzgerald boosted their price objective on shares of Cloudflare from $162.00 to $199.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Citigroup boosted their price objective on shares of Cloudflare from $240.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 18th. Mizuho boosted their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, August 1st. DZ Bank restated a "sell" rating and set a $170.00 target price on shares of Cloudflare in a research report on Tuesday, July 22nd. Finally, Scotiabank boosted their target price on shares of Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $200.30, for a total value of $11,843,739.00. Following the completion of the transaction, the chief financial officer owned 241,550 shares in the company, valued at approximately $48,382,465. This represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 34,270 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the completion of the transaction, the chief financial officer owned 241,550 shares of the company's stock, valued at approximately $48,351,063.50. This trade represents a 12.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 630,323 shares of company stock worth $118,661,105. 10.89% of the stock is currently owned by insiders.

Cloudflare Stock Up 1.6%

NYSE NET traded up $3.1630 on Friday, reaching $195.9330. 1,416,685 shares of the company's stock traded hands, compared to its average volume of 2,910,497. The stock has a 50 day moving average price of $193.75 and a 200-day moving average price of $156.93. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $219.00. 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 (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.03. The business had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company's revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Cloudflare 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.