Erste Asset Management GmbH Raises Holdings in Cloudflare, Inc. $NET

Key Points

• Erste Asset Management GmbH increased its holdings in Cloudflare, Inc. by 37.1% during the 1st quarter, owning a total of 110,950 shares valued at approximately $12.57 million.
• Multiple institutional investors have significantly adjusted their positions in Cloudflare, with Mather Group LLC. increasing its stake by 1,188.2% and acquiring 219 shares worth around $25,000.
• Cloudflare's stock has seen a consensus price target increase from various analysts, with Piper Sandler raising their target from $151.00 to $224.00, indicating a positive outlook for the company's performance.

Erste Asset Management GmbH increased its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 37.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,950 shares of the company's stock after purchasing an additional 30,000 shares during the period. Erste Asset Management GmbH's holdings in Cloudflare were worth $12,570,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its holdings in Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after purchasing an additional 202 shares in the last quarter. NBC Securities Inc. purchased a new position in Cloudflare in the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC lifted its holdings in Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after purchasing an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after purchasing an additional 142 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Cloudflare in the 4th quarter worth approximately $43,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NET. Robert W. Baird lifted their price objective on Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted 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. Jefferies Financial Group reduced their price objective on Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald lifted their price objective on Cloudflare from $162.00 to $199.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, Mizuho lifted 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. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $191.28.

Cloudflare Trading Up 1.6%

Shares of NYSE NET traded up $3.1630 during trading hours on Friday, hitting $195.9330. 1,416,685 shares of the company traded hands, compared to its average volume of 2,974,580. The stock has a market capitalization of $68.28 billion, a price-to-earnings ratio of -576.27 and a beta of 1.84. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The company's 50 day moving average price is $193.75 and its 200 day moving average price is $156.82. 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 released its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm 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 for the quarter 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. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 34,270 shares of the company's stock in a transaction 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 transaction, the chief financial officer owned 241,550 shares of the company's stock, valued at $48,351,063.50. This represents a 12.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 25,642 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $173.00, for a total value of $4,436,066.00. Following the completion of the transaction, the insider directly owned 6,390 shares in the company, valued at $1,105,470. This trade represents a 80.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 630,323 shares of company stock worth $118,661,105. Insiders own 10.89% of the company's stock.

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.