Cloudflare, Inc. $NET Stock Holdings Decreased by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Cloudflare, Inc. (NYSE:NET) by 19.2%, now owning 9,801 shares valued at approximately $1.1 million.
• Cloudflare reported $0.21 earnings per share for the last quarter, surpassing analysts' expectations of $0.18 and showing a 27.8% year-over-year revenue increase.
• Insider transactions include significant sales with Director Carl Ledbetter and CFO Thomas J. Seifert offloading $2.997 million and $7.922 million in shares, respectively, indicating a noticeable change in ownership.

BI Asset Management Fondsmaeglerselskab A S reduced its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,801 shares of the company's stock after selling 2,335 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Cloudflare were worth $1,104,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NET. Fred Alger Management LLC increased its position in shares of Cloudflare by 856.3% in the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock worth $100,604,000 after acquiring an additional 836,591 shares in the last quarter. Nuveen LLC purchased a new position in shares of Cloudflare in the first quarter worth approximately $88,203,000. American Century Companies Inc. increased its position in shares of Cloudflare by 34.5% in the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after acquiring an additional 779,819 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Cloudflare by 129.7% in the first quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock worth $123,647,000 after acquiring an additional 619,526 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Cloudflare by 1.8% in the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock worth $3,475,011,000 after acquiring an additional 538,850 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Price Performance

NYSE NET opened at $195.9330 on Friday. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $68.28 billion, a PE ratio of -576.27 and a beta of 1.84. The company has a 50 day moving average price of $193.75 and a two-hundred day moving average price of $156.73. Cloudflare, Inc. has a 12-month low of $74.88 and a 12-month high of $219.00.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results 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. The firm had revenue of $512.32 million during the quarter, compared to analysts' expectations 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 was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share. 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 analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other news, Director Carl Ledbetter sold 15,000 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $199.85, for a total value of $2,997,750.00. Following the completion of the sale, the director directly owned 1,043,073 shares in the company, valued at approximately $208,458,139.05. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas J. Seifert sold 41,555 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $190.64, for a total transaction of $7,922,045.20. Following the completion of the sale, the chief financial officer owned 189,517 shares of the company's stock, valued at $36,129,520.88. The trade was a 17.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 630,323 shares of company stock valued at $118,661,105. Insiders own 10.89% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. 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 report on Friday, August 1st. Stifel Nicolaus boosted their price objective on shares of Cloudflare from $175.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, August 1st. 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. CICC Research raised shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective on the stock in a research report on Monday, May 12th. Finally, 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 report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Cloudflare 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.

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