Ilmarinen Mutual Pension Insurance Co Sells 26,771 Shares of Cloudflare, Inc. $NET

Key Points

• Ilmarinen Mutual Pension Insurance Co cut its Cloudflare stake by 42.5% in the fourth quarter, selling 26,771 shares and leaving it with 36,229 shares valued at about $7.14 million.
• Cloudflare reported strong quarterly results, with EPS of $0.25 beating estimates and revenue of $639.76 million topping expectations; revenue rose 33.5% year over year.
• Analysts remain broadly positive on NET, with a consensus rating of Moderate Buy and an average price target of $236.68, even as some firms recently trimmed ratings or adjusted targets.

Ilmarinen Mutual Pension Insurance Co reduced its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 42.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,229 shares of the company's stock after selling 26,771 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Cloudflare were worth $7,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Frank Rimerman Advisors LLC boosted its stake in shares of Cloudflare by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 2,821 shares of the company's stock valued at $605,000 after buying an additional 51 shares during the period. Brown Brothers Harriman & Co. lifted its stake in Cloudflare by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company's stock worth $34,000 after purchasing an additional 56 shares during the last quarter. Silver Oak Securities Incorporated lifted its stake in Cloudflare by 5.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,090 shares of the company's stock worth $218,000 after purchasing an additional 57 shares during the last quarter. Certuity LLC lifted its stake in Cloudflare by 1.8% during the fourth quarter. Certuity LLC now owns 3,156 shares of the company's stock worth $622,000 after purchasing an additional 57 shares during the last quarter. Finally, Rothschild Investment LLC lifted its stake in Cloudflare by 37.4% during the third quarter. Rothschild Investment LLC now owns 224 shares of the company's stock worth $48,000 after purchasing an additional 61 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NET. Susquehanna upped their target price on Cloudflare from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. KeyCorp cut Cloudflare from an "overweight" rating to a "hold" rating in a research note on Wednesday, April 15th. Barclays upped their target price on Cloudflare from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 11th. Stifel Nicolaus set a $260.00 target price on Cloudflare in a research note on Friday, May 8th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Cloudflare in a research note on Friday, May 22nd. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $236.68.

Cloudflare Stock Up 9.0%

Shares of NET opened at $227.98 on Friday. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 week high of $260.00. The stock has a market capitalization of $80.58 billion, a price-to-earnings ratio of -911.92 and a beta of 1.67. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a fifty day moving average of $208.24 and a 200-day moving average of $198.67.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.The company had revenue of $639.76 million during the quarter, compared to analysts' expectations of $620.83 million. During the same period in the prior year, the company earned $0.16 EPS. Cloudflare's revenue was up 33.5% compared to the same quarter last year. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $209.08, for a total value of $10,952,446.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle Zatlyn sold 35,080 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $213.98, for a total value of $7,506,418.40. Following the completion of the transaction, the insider owned 47,425 shares of the company's stock, valued at $10,148,001.50. The trade was a 42.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 585,862 shares of company stock valued at $121,988,011 over the last quarter. 10.89% of the stock is owned by corporate insiders.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

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