Cloudflare, Inc. $NET Stock Position Raised by Ethic Inc.

Key Points

• Ethic Inc. has increased its holdings in Cloudflare, Inc. by 13.4% during Q2, bringing their total shares to 34,531 valued at $6.7 million.
• Several institutional investors, including UBS AM and American Century Companies, have significantly increased their positions in Cloudflare, with institutional ownership now at 82.68%.
• Cloudflare's recent earnings report revealed an earnings per share (EPS) of $0.21, beating analyst expectations, and a revenue of $512.32 million, which grew 27.8% year-over-year.

Ethic Inc. lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 13.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,531 shares of the company's stock after buying an additional 4,082 shares during the period. Ethic Inc.'s holdings in Cloudflare were worth $6,701,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NET. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Cloudflare by 33.5% during 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 buying an additional 786,063 shares during the last quarter. Nuveen LLC bought a new stake in shares of Cloudflare during the 1st quarter valued at about $88,203,000. American Century Companies Inc. grew its position in shares of Cloudflare by 34.5% during the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock valued at $342,287,000 after buying an additional 779,819 shares during the last quarter. Raymond James Financial Inc. grew its position in shares of Cloudflare by 129.7% during the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock valued at $123,647,000 after buying an additional 619,526 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Cloudflare by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock valued at $3,475,011,000 after buying an additional 538,850 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Insider Transactions at Cloudflare

In other news, insider Michelle Zatlyn sold 35,100 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the completion of the transaction, the insider directly owned 14,575 shares of the company's stock, valued at approximately $2,794,173.25. This trade represents a 70.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 59,130 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the transaction, the chief financial officer directly owned 241,550 shares of the company's stock, valued at $48,382,465. The trade was a 19.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 710,270 shares of company stock valued at $147,320,646. Company insiders own 10.89% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NET shares. Guggenheim reaffirmed a "sell" rating on shares of Cloudflare in a research report on Tuesday. Wells Fargo & Company boosted their target price 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. KeyCorp boosted their target price 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. Robert W. Baird boosted their target price on shares of Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Finally, Mizuho boosted their target price on shares of Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. One equities research 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 given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $198.21.

Cloudflare Stock Performance

NYSE NET opened at $210.62 on Thursday. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The firm has a market capitalization of $73.40 billion, a price-to-earnings ratio of -619.46 and a beta of 1.99. The company's fifty day moving average is $213.33 and its two-hundred day moving average is $180.37. Cloudflare, Inc. has a 52-week low of $85.60 and a 52-week high of $230.10.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The business's quarterly revenue was up 27.8% on a year-over-year basis. During the same period last year, the business posted $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. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

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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