Nordea Investment Management AB Boosts Stock Holdings in Cloudflare, Inc. $NET

Key Points

• Nordea Investment Management AB increased its stake in Cloudflare, Inc. by 4.0% during Q2, holding 42,000 shares valued at approximately $8.17 million.
• Several large investors have also raised their positions in Cloudflare, with 82.68% of the stock now owned by institutional investors.
• In Q2, Cloudflare reported earnings of $0.21 per share, surpassing analyst expectations, and achieved a revenue growth of 27.8% year-over-year.

Nordea Investment Management AB increased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,000 shares of the company's stock after acquiring an additional 1,632 shares during the quarter. Nordea Investment Management AB's holdings in Cloudflare were worth $8,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NET. GAMMA Investing LLC boosted its holdings in Cloudflare by 86.8% in the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock valued at $123,000 after acquiring an additional 508 shares in the last quarter. Wealthedge Investment Advisors LLC grew its stake in shares of Cloudflare by 64.5% in the first quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company's stock worth $1,367,000 after acquiring an additional 4,755 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Cloudflare by 34.5% during the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock valued at $342,287,000 after buying an additional 779,819 shares during the last quarter. Independent Solutions Wealth Management LLC increased its holdings in shares of Cloudflare by 293.3% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 15,059 shares of the company's stock worth $2,949,000 after purchasing an additional 11,230 shares in the last quarter. Finally, Castle Rock Wealth Management LLC raised its position in Cloudflare by 10.5% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 12,943 shares of the company's stock worth $2,568,000 after buying an additional 1,229 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Up 1.3%

Shares of NYSE NET opened at $212.80 on Tuesday. Cloudflare, Inc. has a 12-month low of $85.60 and a 12-month high of $230.10. The stock has a market capitalization of $74.16 billion, a PE ratio of -625.87 and a beta of 1.99. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The stock's fifty day simple moving average is $212.89 and its two-hundred day simple moving average is $179.93.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The firm had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same quarter in the previous year, the business posted $0.20 EPS. Cloudflare's revenue was up 27.8% on a year-over-year basis. 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, analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NET. Cantor Fitzgerald increased their price target on Cloudflare from $162.00 to $199.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cloudflare in a research note on Wednesday, October 8th. Mizuho boosted their price target on shares of Cloudflare from $220.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Piper Sandler boosted their price target on shares of Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus increased their price target on Cloudflare from $175.00 to $230.00 and gave the company a "buy" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $196.54.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $200.43, for a total value of $10,499,325.12. Following the completion of the sale, the chief executive officer directly owned 20,111 shares in the company, valued at $4,030,847.73. This trade represents a 72.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle Zatlyn sold 35,100 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the sale, the insider directly owned 14,575 shares in the company, valued at $2,794,173.25. This trade represents a 70.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 710,270 shares of company stock valued at $147,320,646 in the last three months. 10.89% of the stock is owned by insiders.

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.

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