Ilmarinen Mutual Pension Insurance Co Makes New Investment in Cloudflare, Inc. $NET

Key Points

• Ilmarinen Mutual Pension Insurance Co has acquired a new stake in Cloudflare, purchasing 50,000 shares valued at approximately $5.6 million during the first quarter.
• Multiple large investors, including GAMMA Investing LLC and Wealthedge Investment Advisors LLC, significantly boosted their investments in Cloudflare in the same quarter, indicating increased institutional interest.
• Cloudflare's CFO recently sold a significant number of shares, leading to a 12.42% decrease in their ownership, while analysts have upgraded the stock to a "Moderate Buy" with a variety of new price targets.

Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 50,000 shares of the company's stock, valued at approximately $5,635,000.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Cloudflare by 86.8% in the 1st quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock valued at $123,000 after buying an additional 508 shares in the last quarter. Wealthedge Investment Advisors LLC lifted its holdings in shares of Cloudflare by 64.5% during the first quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company's stock valued at $1,367,000 after acquiring an additional 4,755 shares during the period. American Century Companies Inc. boosted its stake in shares of 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 in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Cloudflare by 9.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock worth $297,000 after purchasing an additional 230 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Cloudflare by 7.0% during the 1st quarter. Amalgamated Bank now owns 21,402 shares of the company's stock worth $2,412,000 after purchasing an additional 1,400 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 34,270 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at approximately $48,351,063.50. This represents a 12.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 35,100 shares of Cloudflare stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the sale, the insider owned 14,575 shares of the company's stock, valued at approximately $2,794,173.25. This represents a 70.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 633,404 shares of company stock worth $121,335,185 in the last ninety days. 10.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NET shares. Robert W. Baird boosted their price target on shares of Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Morgan Stanley lifted their target price on shares of Cloudflare from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Scotiabank increased their price target on Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Needham & Company LLC raised their price target on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada boosted 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. One equities 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $191.28.

Cloudflare Stock Performance

NET stock opened at $222.85 on Thursday. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The company has a 50 day moving average price of $200.05 and a 200 day moving average price of $160.89. Cloudflare, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $225.29. The stock has a market capitalization of $77.66 billion, a PE ratio of -655.45 and a beta of 1.95.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. The firm had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The business's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period last year, the company earned $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. Analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.

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