Cloudflare, Inc. $NET Position Increased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its stake in Cloudflare, Inc. by 3.6%, owning 67,975 shares valued at $7.66 million as of the end of the first quarter.
• Cloudflare reported quarterly earnings of $0.21 per share, exceeding analysts' expectations of $0.18, with revenue of $512.32 million, up 27.8% year-over-year.
• Several analysts have upgraded Cloudflare's stock ratings, with price targets ranging from $154.00 to $224.00, indicating positive sentiment about its future performance.

Candriam S.C.A. lifted its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,975 shares of the company's stock after acquiring an additional 2,342 shares during the period. Candriam S.C.A.'s holdings in Cloudflare were worth $7,660,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NET. GAMMA Investing LLC grew its stake in shares of Cloudflare by 86.8% in the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock valued at $123,000 after buying an additional 508 shares in the last quarter. Wealthedge Investment Advisors LLC lifted its stake in Cloudflare by 64.5% during the first quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company's stock worth $1,367,000 after purchasing an additional 4,755 shares during the last quarter. American Century Companies Inc. lifted its position in Cloudflare by 34.5% in the first 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. Crossmark Global Holdings Inc. lifted its stake in Cloudflare by 9.6% in the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock valued at $297,000 after buying an additional 230 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of Cloudflare by 7.0% during the first quarter. Amalgamated Bank now owns 21,402 shares of the company's stock worth $2,412,000 after acquiring an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Stock Performance

Shares of NYSE:NET traded up $3.1630 on Friday, reaching $195.9330. 1,416,685 shares of the company's stock were exchanged, compared to its average volume of 2,910,497. The business's 50-day moving average is $193.75 and its two-hundred day moving average is $156.93. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $219.00. The firm has a market capitalization of $68.28 billion, a price-to-earnings ratio of -576.27 and a beta of 1.84.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating 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 for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. 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 EPS for the current year.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 34,270 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $200.17, for a total value 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 represents a 12.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 41,555 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $190.64, for a total value of $7,922,045.20. Following the transaction, the chief financial officer directly owned 189,517 shares in the company, valued at $36,129,520.88. This trade represents a 17.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 630,323 shares of company stock valued at $118,661,105 in the last three months. 10.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NET has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Cloudflare from $225.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Oppenheimer reaffirmed an "outperform" rating and issued a $200.00 target price (up previously from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Stifel Nicolaus increased their target price on Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Guggenheim lifted their target price on Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a report on Friday, August 1st. Finally, Citigroup boosted their price objective on shares of Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. 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's stock. According to data from MarketBeat, Cloudflare presently has an average rating of "Moderate Buy" and an average target price of $191.28.

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.