IFM Investors Pty Ltd Has $11.50 Million Stake in Cloudflare, Inc. $NET

Key Points

• IFM Investors Pty Ltd increased its stake in Cloudflare, Inc. by 4.5% during the second quarter, acquiring an additional 2,538 shares, bringing its total holdings to 58,716 shares valued at approximately $11.5 million.
• Several institutional investors have also raised their positions in Cloudflare, with Vanguard Group increasing its stake by 1.8% and American Century Companies boosting their stake by 34.5% in the first quarter.
• Cloudflare reported earnings of $0.21 per share, exceeding analysts' expectations, with quarterly revenue reaching $512.32 million, a year-over-year growth of 27.8%.

IFM Investors Pty Ltd raised its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,716 shares of the company's stock after acquiring an additional 2,538 shares during the quarter. IFM Investors Pty Ltd's holdings in Cloudflare were worth $11,498,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Cloudflare by 86.8% during the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock worth $123,000 after purchasing an additional 508 shares in the last quarter. Wealthedge Investment Advisors LLC lifted its stake in Cloudflare by 64.5% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company's stock valued at $1,367,000 after buying an additional 4,755 shares in the last quarter. American Century Companies Inc. raised its stake in Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock valued at $342,287,000 after purchasing an additional 779,819 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in Cloudflare by 9.6% during the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock worth $297,000 after acquiring an additional 230 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Cloudflare by 7.0% in the first quarter. Amalgamated Bank now owns 21,402 shares of the company's stock valued at $2,412,000 after purchasing an additional 1,400 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Trading Up 1.3%

Shares of NET traded up $2.81 during mid-day trading on Friday, reaching $226.38. The company had a trading volume of 4,004,051 shares, compared to its average volume of 2,061,458. Cloudflare, Inc. has a fifty-two week low of $77.80 and a fifty-two week high of $230.10. The firm has a fifty day simple moving average of $204.65 and a 200-day simple moving average of $164.83. The stock has a market cap of $78.89 billion, a price-to-earnings ratio of -665.82 and a beta of 1.95. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63.

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, beating analysts' consensus estimates of $0.18 by $0.03. The firm had revenue of $512.32 million during 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 firm's quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on NET shares. Bank of America lifted their price target on Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wells Fargo & Company lifted their target price on shares of Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Citigroup increased their price target on shares of Cloudflare from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, August 18th. KeyCorp raised their price target on shares of Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, DZ Bank reiterated a "sell" rating and issued a $170.00 price objective on shares of Cloudflare in a report on Tuesday, July 22nd. One 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 company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $191.28.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 34,270 shares of Cloudflare stock in a transaction on Monday, July 21st. The shares were sold at an average price of $200.17, for a total value of $6,859,825.90. Following the completion of the sale, the chief financial officer owned 241,550 shares in the company, valued at approximately $48,351,063.50. The trade was a 12.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $184.58, for a total transaction of $9,669,038.72. Following the transaction, the chief executive officer owned 381,213 shares in the company, valued at $70,364,295.54. This trade represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 665,738 shares of company stock valued at $131,968,542. Corporate insiders own 10.89% of the company's stock.

Cloudflare Company 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.