Cloudflare, Inc. $NET Stock Holdings Lifted by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Cloudflare, Inc. by 5.5%, acquiring an additional 12,194 shares, bringing its total holdings to approximately 233,156 shares valued at $26.27 million.
• Several other institutional investors, including Gill Capital Partners and Spire Wealth Management, also raised their stakes in Cloudflare during the same quarter, contributing to a total ownership by institutional investors of over 82%.
• Wall Street analysts have varying opinions on Cloudflare, with price targets ranging from $111.00 to $235.00 and a consensus rating of "Moderate Buy" with an average target price of $191.28.

Korea Investment CORP grew its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 5.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 233,156 shares of the company's stock after acquiring an additional 12,194 shares during the quarter. Korea Investment CORP owned about 0.07% of Cloudflare worth $26,274,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NET. Fred Alger Management LLC boosted its position in Cloudflare by 856.3% during the 4th quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock worth $100,604,000 after acquiring an additional 836,591 shares during the period. Nuveen LLC bought a new stake in shares of Cloudflare in the 1st quarter worth $88,203,000. American Century Companies Inc. raised 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 worth $342,287,000 after buying an additional 779,819 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Cloudflare by 129.7% in the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock worth $123,647,000 after buying an additional 619,526 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Cloudflare by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock worth $3,475,011,000 after buying an additional 538,850 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Up 1.6%

NYSE:NET traded up $3.1630 during trading hours on Friday, hitting $195.9330. 1,416,685 shares of the company's stock traded hands, compared to its average volume of 2,974,580. The firm has a market cap of $68.28 billion, a P/E ratio of -576.27 and a beta of 1.84. Cloudflare, Inc. has a twelve month low of $74.88 and a twelve month high of $219.00. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The stock's fifty day moving average price is $193.75 and its two-hundred day moving average price is $156.73.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly 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 analyst estimates of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.Cloudflare's quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm 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, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 59,130 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the transaction, the chief financial officer directly owned 241,550 shares of the company's stock, valued at approximately $48,382,465. The trade was a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the insider directly owned 6,390 shares in the company, valued at $1,105,470. The trade was a 80.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 630,323 shares of company stock valued at $118,661,105 over the last ninety days. Corporate insiders own 10.89% of the company's stock.

Analyst Upgrades and Downgrades

NET has been the topic of a number of research reports. Bank of America boosted their price objective on Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. CICC Research raised Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective on the stock in a research note on Monday, May 12th. KeyCorp boosted their price objective on Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Cowen reissued a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Finally, Robert W. Baird boosted their target price on Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $191.28.

About Cloudflare

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.