Cloudflare, Inc. $NET Shares Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Cloudflare, Inc. by 1.8% during the 2nd quarter, owning 112,300 shares valued at approximately $21.99 million.
• Cloudflare's CFO, Thomas J. Seifert, recently sold 59,130 shares valued at $11.84 million, marking a significant reduction in his position by almost 20%.
• Analysts have raised Cloudflare's price targets, with updates from several financial institutions, including Wells Fargo increasing its target to $250, indicating a positive long-term outlook for the company's stock.

KLP Kapitalforvaltning AS raised its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 112,300 shares of the company's stock after acquiring an additional 2,000 shares during the period. KLP Kapitalforvaltning AS's holdings in Cloudflare were worth $21,992,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NET. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cloudflare by 33.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock valued at $352,610,000 after acquiring an additional 786,063 shares during the last quarter. Nuveen LLC acquired a new position in Cloudflare in the 1st quarter valued at $88,203,000. American Century Companies Inc. raised its holdings in Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock valued at $342,287,000 after acquiring an additional 779,819 shares during the last quarter. Raymond James Financial Inc. raised its holdings in Cloudflare by 129.7% in the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock valued at $123,647,000 after acquiring an additional 619,526 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Cloudflare by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock valued at $3,475,011,000 after acquiring an additional 538,850 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of the business's stock in a transaction on 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 transaction, the chief financial officer owned 241,550 shares in the company, valued at $48,382,465. The trade was a 19.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 34,270 shares of the business's stock in a transaction on 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 in the company, valued at $48,351,063.50. This represents a 12.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 674,636 shares of company stock worth $135,957,067. 10.89% of the stock is owned by corporate insiders.

Cloudflare Stock Down 1.5%

Shares of Cloudflare stock opened at $217.67 on Wednesday. The company has a fifty day moving average price of $211.07 and a 200 day moving average price of $173.21. 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 twelve month low of $79.16 and a twelve month high of $230.10. The stock has a market cap of $75.86 billion, a price-to-earnings ratio of -640.22 and a beta of 1.99.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results 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. 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 analysts' expectations of $501.58 million. During the same period in the prior year, the company earned $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. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. KeyCorp boosted their price objective on shares of Cloudflare from $210.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wells Fargo & Company boosted their price objective on shares of Cloudflare from $225.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Scotiabank boosted their price objective on shares of Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Royal Bank Of Canada boosted their price objective on shares of Cloudflare from $210.00 to $228.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Piper Sandler boosted their price objective on shares of Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of "Moderate Buy" and a consensus target price of $196.54.

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.

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