California State Teachers Retirement System Purchases 1,208 Shares of Cloudflare, Inc. $NET

California State Teachers Retirement System grew its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 467,067 shares of the company's stock after buying an additional 1,208 shares during the period. California State Teachers Retirement System owned 0.13% of Cloudflare worth $114,562,194 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NET. Norges Bank acquired a new position in Cloudflare during the 4th quarter worth approximately $718,316,000. Jennison Associates LLC grew its position in Cloudflare by 135.8% in the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company's stock worth $906,758,000 after acquiring an additional 2,530,872 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Cloudflare by 4,042.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company's stock worth $275,887,000 after purchasing an additional 1,365,598 shares in the last quarter. Swedbank AB raised its position in Cloudflare by 697.5% in the 1st quarter. Swedbank AB now owns 927,606 shares of the company's stock worth $191,402,000 after purchasing an additional 811,297 shares during the last quarter. Finally, National Pension Service raised its stake in shares of Cloudflare by 53.2% in the 4th quarter. National Pension Service now owns 948,003 shares of the company's stock valued at $186,899,000 after purchasing an additional 329,341 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Price Performance

NET traded up $0.87 on Tuesday, hitting $331.23. 1,746,497 shares of the stock were exchanged, compared to its average volume of 4,198,363. The business has a 50-day moving average of $287.59 and a two-hundred day moving average of $240.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.82 and a quick ratio of 1.82. Cloudflare, Inc. has a 12 month low of $158.83 and a 12 month high of $334.60. The firm has a market capitalization of $117.08 billion, a price-to-earnings ratio of -570.42, a PEG ratio of 250.57 and a beta of 1.66.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The business had revenue of $696.06 million during the quarter, compared to analysts' expectations of $664.66 million. During the same quarter in the previous year, the company earned $0.21 EPS. The business's quarterly revenue was up 35.9% compared to the same quarter last year. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. Sell-side analysts forecast that Cloudflare, Inc. will post 0.03 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other news, Director John Graham-Cumming sold 2,520 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $303.97, for a total transaction of $766,004.40. Following the sale, the director owned 494,909 shares of the company's stock, valued at approximately $150,437,488.73. This trade represents a 0.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $277.43, for a total value of $9,156,022.29. Following the completion of the transaction, the insider owned 69,775 shares of the company's stock, valued at $19,357,678.25. The trade was a 32.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 678,083 shares of company stock worth $180,193,432 in the last three months. Company insiders own 10.66% of the company's stock.

Analyst Ratings Changes

NET has been the subject of several research analyst reports. Benchmark lowered shares of Cloudflare to an "underperform" rating in a research note on Tuesday, July 7th. Guggenheim lifted their price objective on Cloudflare from $140.00 to $160.00 and gave the stock a "sell" rating in a research note on Friday, August 7th. Mizuho upped their price target on shares of Cloudflare from $260.00 to $310.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. The Goldman Sachs Group reissued a "buy" rating and issued a $389.00 price target on shares of Cloudflare in a research note on Friday, August 7th. Finally, Susquehanna increased their price target on shares of Cloudflare from $200.00 to $300.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $320.19.

Cloudflare Profile

Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.

The company's offerings include content delivery and domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.

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