Northwest & Ethical Investments L.P. Grows Stock Holdings in Cloudflare, Inc. $NET

Key Points

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Northwest & Ethical Investments L.P. boosted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 276.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,969 shares of the company's stock after purchasing an additional 7,319 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Cloudflare were worth $1,122,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NET. Mather Group LLC. grew its position in Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after purchasing an additional 202 shares during the period. NBC Securities Inc. bought a new stake in Cloudflare in the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC grew its position in Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after purchasing an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after purchasing an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Cloudflare in the 4th quarter worth approximately $43,000. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Performance

Shares of NET stock traded up $3.1630 during mid-day trading 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. Cloudflare, Inc. has a 12 month low of $74.88 and a 12 month high of $219.00. The firm has a 50 day moving average price of $193.75 and a two-hundred day moving average price of $156.93. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The firm has a market capitalization of $68.28 billion, a PE ratio of -576.27 and a beta of 1.84.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. On average, research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity

In related news, 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 transaction of $8,970,760.00. Following the transaction, the chief executive officer owned 381,213 shares in the company, valued at approximately $65,282,726.25. The trade was a 12.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michelle Zatlyn sold 25,642 shares of Cloudflare stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $173.00, for a total transaction of $4,436,066.00. Following the transaction, the insider owned 6,390 shares in the company, valued at approximately $1,105,470. This trade represents a 80.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 630,323 shares of company stock worth $118,661,105 in the last quarter. Corporate insiders own 10.89% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on NET. Wells Fargo & Company lifted their target price on shares of Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Scotiabank lifted their target price on shares of Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. DZ Bank reaffirmed a "sell" rating and issued a $170.00 target price on shares of Cloudflare in a research report on Tuesday, July 22nd. Citigroup boosted their price objective on shares of Cloudflare from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Finally, Jefferies Financial Group cut their price objective on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $191.28.

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.