Credit Agricole S A Reduces Stock Position in Cloudflare, Inc. $NET

Key Points

• Credit Agricole S A has reduced its stake in Cloudflare, Inc. by 83.9% during the first quarter, selling 99,848 shares and now holding 19,178 shares worth approximately $2.16 million.
• Several institutional investors have increased their holdings in Cloudflare, with Wellington Management raising its position by 41.3%, indicating ongoing interest in the company despite Credit Agricole's substantial sell-off.
• Analysts have recently raised their price targets for Cloudflare, with a consensus average target of $191.28, reflecting positive sentiment as multiple firms upgraded their ratings on the stock.

Credit Agricole S A decreased its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 83.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,178 shares of the company's stock after selling 99,848 shares during the quarter. Credit Agricole S A's holdings in Cloudflare were worth $2,161,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NET. Mather Group LLC. lifted its holdings in Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after acquiring an additional 202 shares during the period. NBC Securities Inc. bought a new position in Cloudflare in the first quarter valued at about $27,000. GPS Wealth Strategies Group LLC lifted its holdings in Cloudflare by 213.4% in the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after acquiring an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after buying an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare in the fourth quarter worth about $43,000. Institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $171.25, for a total value of $8,970,760.00. Following the completion of the transaction, the chief executive officer owned 381,213 shares in the company, valued at approximately $65,282,726.25. The trade was a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 34,270 shares of Cloudflare stock in a transaction that occurred 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 trade represents a 12.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 731,705 shares of company stock worth $138,296,322 in the last 90 days. Company insiders own 10.89% of the company's stock.

Cloudflare Price Performance

NYSE:NET traded up $3.02 during trading hours on Tuesday, reaching $198.90. The stock had a trading volume of 2,749,169 shares, compared to its average volume of 2,796,943. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. Cloudflare, Inc. has a 52 week low of $74.88 and a 52 week high of $219.00. The company has a 50 day moving average price of $194.45 and a two-hundred day moving average price of $157.42. The stock has a market capitalization of $69.31 billion, a PE ratio of -585.00 and a beta of 1.84.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.03. The business had revenue of $512.32 million for the quarter, compared to the consensus estimate of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The company's revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company 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. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho raised their price objective on Cloudflare from $220.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Royal Bank Of Canada raised their price objective on Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Cowen reaffirmed a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Needham & Company LLC increased their target price on Cloudflare from $200.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Morgan Stanley increased their target price on Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.