Cloudflare, Inc. $NET Holdings Boosted by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its shareholding in Cloudflare, Inc. by 29.5%, purchasing an additional 2,550 shares during the first quarter, bringing their total to 11,200 shares valued at approximately $1.26 million.
• A significant insider transaction was noted, with CFO Thomas J. Seifert selling 59,130 shares for over $11.8 million, resulting in a 19.67% decrease in his ownership stake.
• Analysts have a generally positive outlook on Cloudflare, with multiple firms raising their price targets, while the stock currently holds an average rating of "Moderate Buy" and a consensus price target of $186.88.

National Bank of Canada FI raised its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 29.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,200 shares of the company's stock after acquiring an additional 2,550 shares during the period. National Bank of Canada FI's holdings in Cloudflare were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Mariner LLC increased its holdings in shares of Cloudflare by 1.5% in the 4th quarter. Mariner LLC now owns 105,522 shares of the company's stock valued at $11,363,000 after acquiring an additional 1,509 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of Cloudflare by 0.8% in the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock valued at $752,000 after buying an additional 58 shares during the last quarter. United Capital Financial Advisors LLC boosted its stake in shares of Cloudflare by 3.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 3,456 shares of the company's stock worth $372,000 after buying an additional 121 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Cloudflare by 121.1% during the fourth quarter. NewEdge Advisors LLC now owns 9,770 shares of the company's stock worth $1,052,000 after buying an additional 5,352 shares during the period. Finally, Farringdon Capital Ltd. purchased a new position in shares of Cloudflare during the fourth quarter worth about $315,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $171.25, for a total transaction of $8,970,760.00. Following the completion of the sale, the chief executive officer directly owned 381,213 shares in the company, valued at $65,282,726.25. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 34,270 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $200.17, for a total value of $6,859,825.90. Following the completion of the transaction, the chief financial officer owned 241,550 shares in the company, valued at approximately $48,351,063.50. This trade represents a 12.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 484,000 shares of company stock valued at $90,260,330. 10.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Guggenheim increased their price objective on Cloudflare from $70.00 to $111.00 and gave the stock a "sell" rating in a research report on Friday, August 1st. Oppenheimer reaffirmed an "outperform" rating and set a $200.00 price target (up from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Susquehanna dropped their price objective on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. DZ Bank restated a "sell" rating and issued a $170.00 target price on shares of Cloudflare in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group dropped their price target on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $191.28.

Cloudflare Trading Down 2.4%

NET stock traded down $4.7470 during trading on Wednesday, reaching $191.7630. 1,996,796 shares of the stock traded hands, compared to its average volume of 3,628,228. The firm has a market capitalization of $66.83 billion, a PE ratio of -564.27 and a beta of 1.84. 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 business's 50 day moving average price is $192.56 and its 200-day moving average price is $155.70. Cloudflare, Inc. has a 52-week low of $74.88 and a 52-week high of $219.00.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data 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 business 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 company's revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company posted $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. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Cloudflare 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.