DekaBank Deutsche Girozentrale Purchases 1,408 Shares of Cloudflare, Inc. $NET

DekaBank Deutsche Girozentrale increased its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,984 shares of the company's stock after purchasing an additional 1,408 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Cloudflare were worth $10,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in 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 purchasing an additional 538,850 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cloudflare by 33.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock worth $352,610,000 after purchasing an additional 786,063 shares during the period. 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 worth $342,287,000 after purchasing an additional 779,819 shares during the period. Northern Trust Corp lifted its position in Cloudflare by 1.7% in the first quarter. Northern Trust Corp now owns 1,880,888 shares of the company's stock worth $211,957,000 after purchasing an additional 31,745 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Cloudflare by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company's stock worth $148,887,000 after purchasing an additional 99,448 shares during the period. 82.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. 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. DZ Bank restated a "sell" rating and issued a $170.00 target price on shares of Cloudflare in a research note on Tuesday, July 22nd. Piper Sandler boosted their target price on shares of Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, Bank of America boosted their target price on shares of Cloudflare from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $198.21.

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 35,100 shares of Cloudflare stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $191.71, for a total value 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 $2,794,173.25. The trade was a 70.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $200.43, for a total value of $10,499,325.12. Following the completion of the transaction, the chief executive officer directly owned 20,111 shares of the company's stock, valued at $4,030,847.73. This represents a 72.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 708,670 shares of company stock valued at $147,000,646 over the last ninety days. 10.89% of the stock is owned by insiders.

Cloudflare Stock Performance

Cloudflare stock opened at $217.17 on Friday. The stock has a 50-day simple moving average of $213.77 and a 200 day simple moving average of $181.19. 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 12-month low of $85.60 and a 12-month high of $230.10. The stock has a market capitalization of $75.68 billion, a price-to-earnings ratio of -638.73 and a beta of 1.99.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly 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. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The business had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. During the same period in the previous year, the business posted $0.20 earnings per share. The firm's revenue for the quarter was up 27.8% compared to the same quarter last year. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. On average, research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

About Cloudflare

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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