Cloudflare, Inc. $NET Shares Purchased by Perpetual Ltd

Key Points

• Perpetual Ltd increased its Cloudflare stake by 188.1% in the third quarter, bringing its holdings to 4,745 shares worth approximately $1.65 million. Institutional investors collectively own 82.68% of Cloudflare’s stock.
• Cloudflare insiders sold substantial shares recently, including CEO Matthew Prince’s roughly $14.8 million sale and Michelle Zatlyn’s approximately $9.7 million sale. Insiders sold 458,839 shares worth $138.2 million over the past 90 days.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $330.59. Cloudflare also exceeded quarterly earnings and revenue estimates, reporting $0.29 EPS and $696.06 million in revenue, up 35.9% year over year.

Perpetual Ltd boosted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 188.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,745 shares of the company's stock after acquiring an additional 3,098 shares during the quarter. Perpetual Ltd's holdings in Cloudflare were worth $1,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. lifted its holdings in shares of Cloudflare by 31.2% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 164 shares of the company's stock valued at $57,000 after buying an additional 39 shares during the period. GK Wealth Management LLC purchased a new stake in shares of Cloudflare in the third quarter worth about $25,000. Riversedge Advisors LLC grew its holdings in Cloudflare by 76.5% during the third quarter. Riversedge Advisors LLC now owns 1,887 shares of the company's stock worth $655,000 after acquiring an additional 818 shares during the period. Wedmont Private Capital grew its holdings in Cloudflare by 108.4% during the third quarter. Wedmont Private Capital now owns 13,280 shares of the company's stock worth $4,540,000 after acquiring an additional 6,908 shares during the period. Finally, Journey Retirement Planning & Investment Management LLC acquired a new stake in Cloudflare during the third quarter worth about $306,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,383 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $283.42, for a total transaction of $14,846,389.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 that occurred on Wednesday, August 19th. The shares were sold at an average price of $294.63, for a total value of $9,723,673.89. Following the completion of the sale, the insider owned 69,775 shares of the company's stock, valued at $20,557,808.25. This trade represents a 32.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 458,839 shares of company stock valued at $138,172,392 in the last ninety days. 10.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NET has been the subject of a number of analyst reports. The Goldman Sachs Group reissued a "buy" rating and issued a $389.00 price target on shares of Cloudflare in a report on Friday, August 7th. Jefferies Financial Group set a $350.00 price objective on Cloudflare in a research report on Friday, August 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $370.00 price objective on shares of Cloudflare in a research note on Friday, August 7th. Barclays lifted their target price on shares of Cloudflare from $355.00 to $400.00 and gave the company an "overweight" rating in a report on Monday. Finally, DZ Bank cut shares of Cloudflare from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $330.59.

Cloudflare Stock Performance

Shares of NET opened at $348.38 on Wednesday. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $370.35. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.22. The firm's fifty day moving average is $318.34 and its two-hundred day moving average is $262.18.

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

Cloudflare Profile

Cloudflare, Inc is a connectivity cloud company that provides services designed to help organizations make their websites, applications and networks more secure, reliable and faster. Its global network sits between users and the services they access, supporting content delivery, domain name system services, traffic optimization and protection against distributed denial-of-service attacks and other online threats.

The company offers a range of application and network security products, including web application firewalls, bot management, application programming interface protection, zero-trust security and secure access services.

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