Oribel Capital Management LP Takes $3.28 Million Position in Cloudflare, Inc. $NET

Key Points

• Oribel Capital Management LP invested approximately $3.28 million in Cloudflare, Inc. by acquiring 29,100 shares in the company's stock during the first quarter of the year.
• Analysts have varying price targets for Cloudflare, with Bank of America raising its target from $235 to $240 while Jefferies decreased their target from $170 to $150.
• Cloudflare reported a quarterly revenue of $512.32 million, surpassing the consensus estimate and indicating a year-over-year revenue growth of 27.8%.

Oribel Capital Management LP acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 29,100 shares of the company's stock, valued at approximately $3,279,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NET. Mather Group LLC. grew its holdings in Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after buying an additional 202 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Cloudflare during the 1st quarter worth $27,000. GPS Wealth Strategies Group LLC boosted its position in shares of Cloudflare by 213.4% in the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after buying an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after buying an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare in the fourth quarter worth $43,000. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NET has been the subject of several recent research reports. UBS Group increased their price objective on Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Susquehanna lowered their price target on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Piper Sandler raised their price target on Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Needham & Company LLC raised their price target on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Cowen reaffirmed a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Cloudflare presently has an average rating of "Moderate Buy" and an average target price of $191.28.

Cloudflare Price Performance

NET traded up $3.02 during midday trading on Tuesday, reaching $198.90. 2,749,169 shares of the company's stock were exchanged, compared to its average volume of 2,796,943. The firm has a market capitalization of $69.31 billion, a price-to-earnings ratio of -585.00 and a beta of 1.84. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a one year low of $74.88 and a one year high of $219.00. The business has a 50-day simple moving average of $194.45 and a two-hundred day simple moving average of $157.42.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.03. The firm had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the company 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. As a group, research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $171.25, for a total transaction of $8,970,760.00. Following the completion of the transaction, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas J. Seifert sold 34,270 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the transaction, the chief financial officer owned 241,550 shares of the company's stock, valued at approximately $48,351,063.50. This represents a 12.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 731,705 shares of company stock worth $138,296,322 in the last three months. 10.89% of the stock is currently owned by company insiders.

Cloudflare Company 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.