Federation des caisses Desjardins du Quebec Sells 3,878 Shares of Cloudflare, Inc. $NET

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Cloudflare, Inc. by 13.3%, selling 3,878 shares and now holding 25,326 shares valued at $2.855 million.
• Recent quarterly earnings showed Cloudflare exceeded expectations with an EPS of $0.21, beating the consensus estimate of $0.18, and revenue grew by 27.8% year-over-year, reaching $512.32 million.
• Analysts have adjusted their target prices upward for Cloudflare, with new price targets ranging from $224.00 to $240.00, indicating a positive outlook for the stock with a consensus rating of "Moderate Buy".

Federation des caisses Desjardins du Quebec cut its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 13.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,326 shares of the company's stock after selling 3,878 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Cloudflare were worth $2,855,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. DZ Bank reiterated a "sell" rating and issued a $170.00 target price on shares of Cloudflare in a research note on Tuesday, July 22nd. Oppenheimer reiterated an "outperform" rating and issued a $200.00 target price (up from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. JMP Securities increased their price target on shares of Cloudflare from $180.00 to $225.00 and gave the company a "market outperform" rating in a report on Monday, July 28th. KeyCorp increased their price target on shares of Cloudflare from $210.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Citigroup increased their price target on shares of Cloudflare from $240.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $191.28.

Cloudflare Stock Performance

Shares of NET traded up $0.63 during mid-day trading on Tuesday, hitting $218.55. 1,670,393 shares of the company's stock were exchanged, compared to its average volume of 3,506,326. Cloudflare, Inc. has a 52 week low of $74.88 and a 52 week high of $220.99. The stock's 50-day simple moving average is $198.63 and its 200-day simple moving average is $160.06. The firm has a market cap of $76.16 billion, a price-to-earnings ratio of -642.79 and a beta of 1.95. 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 (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company had revenue of $512.32 million for the quarter, compared to analysts' expectations of $501.58 million. During the same period last year, the firm earned $0.20 earnings per share. The business's revenue for the quarter was up 27.8% on a year-over-year basis. 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 expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In related news, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $195.73, for a total value of $2,935,950.00. Following the transaction, the director directly owned 1,028,073 shares of the company's stock, valued at $201,224,728.29. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Graham-Cumming sold 10,215 shares of Cloudflare stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $206.32, for a total transaction of $2,107,558.80. Following the completion of the transaction, the director directly owned 495,191 shares in the company, valued at $102,167,807.12. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 687,029 shares of company stock valued at $130,970,115 over the last three months. 10.89% of the stock is owned by insiders.

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.