Mitsubishi UFJ Trust & Banking Corp Cuts Holdings in Cloudflare, Inc. $NET

Key Points

• Mitsubishi UFJ Trust & Banking Corp trimmed its Cloudflare stake by 22.9% in Q4, selling 145,480 shares and retaining 489,545 shares valued at about $96.5 million (≈0.14% of the company).
• Major institutions like Vanguard and Groupama boosted positions—institutional ownership is about 82.68%—but insiders have been net sellers, disposing of 609,247 shares in the past 90 days (insiders now own 10.89%).
• Cloudflare beat the quarter (revenue $614.5M, EPS $0.28) and the stock carries a consensus rating of "Moderate Buy" with an average price target of $232.62.

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 22.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 489,545 shares of the company's stock after selling 145,480 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.14% of Cloudflare worth $96,514,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Groupama Asset Managment boosted its stake in Cloudflare by 82.6% during the third quarter. Groupama Asset Managment now owns 2,100,000 shares of the company's stock valued at $450,639,000 after buying an additional 950,000 shares during the last quarter. Vanguard Group Inc. increased its stake in Cloudflare by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company's stock worth $6,934,958,000 after acquiring an additional 821,684 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of Cloudflare during the 3rd quarter worth approximately $138,660,000. Massachusetts Financial Services Co. MA boosted its position in shares of Cloudflare by 96.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company's stock valued at $279,588,000 after acquiring an additional 639,245 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Cloudflare by 63.5% during the 3rd quarter. Federated Hermes Inc. now owns 862,009 shares of the company's stock valued at $184,979,000 after acquiring an additional 334,875 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NET. Barclays boosted their price target on shares of Cloudflare from $235.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 11th. Robert W. Baird set a $260.00 price objective on shares of Cloudflare and gave the stock an "outperform" rating in a research note on Wednesday, February 11th. Susquehanna set a $190.00 target price on shares of Cloudflare in a report on Thursday, February 12th. Wolfe Research restated a "peer perform" rating on shares of Cloudflare in a research report on Monday, January 26th. Finally, Scotiabank lowered their price target on shares of Cloudflare from $255.00 to $225.00 and set a "sector perform" rating for the company in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $232.62.

Cloudflare Stock Up 2.6%

Shares of NET opened at $212.54 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. The business has a fifty day moving average of $198.96 and a 200 day moving average of $200.25. The company has a market cap of $74.81 billion, a PE ratio of -732.86 and a beta of 1.87. Cloudflare, Inc. has a 52-week low of $117.07 and a 52-week high of $260.00.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The business had revenue of $614.51 million for the quarter, compared to analysts' expectations of $591.67 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The business's revenue was up 33.6% compared to the same quarter last year. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $173.78, for a total transaction of $9,103,291.52. Following the transaction, the chief executive officer directly owned 22,911 shares in the company, valued at approximately $3,981,473.58. This represents a 69.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 41,557 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $185.04, for a total transaction of $7,689,707.28. Following the completion of the sale, the chief financial officer directly owned 85,452 shares in the company, valued at $15,812,038.08. This trade represents a 32.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 609,247 shares of company stock valued at $118,913,474. Company insiders own 10.89% of the company's stock.

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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