Plato Investment Management Ltd Purchases New Stake in Cloudflare, Inc. $NET

Key Points

• Plato Investment Management acquired 6,147 Cloudflare shares worth approximately $1.5 million in the second quarter. Institutional investors collectively own 82.68% of the company.
• Analysts maintain a generally positive view, with Cloudflare receiving a consensus “Moderate Buy” rating and an average price target of $320.19; several firms recently raised targets to between $380 and $400.
• Cloudflare reported quarterly revenue of $696.06 million, up 35.9% year over year, and adjusted EPS of $0.29, exceeding estimates. However, shares traded down 2.7%, while insiders have sold roughly $170.6 million of stock over the past three months.

Plato Investment Management Ltd acquired a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,147 shares of the company's stock, valued at approximately $1,499,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Cloudflare during the fourth quarter worth $718,316,000. Jennison Associates LLC boosted its holdings in shares of Cloudflare by 135.8% in the 1st quarter. Jennison Associates LLC now owns 4,394,484 shares of the company's stock valued at $906,758,000 after buying an additional 2,530,872 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Cloudflare by 4,042.6% in the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company's stock valued at $275,887,000 after buying an additional 1,365,598 shares during the period. Swedbank AB grew its position in shares of Cloudflare by 697.5% during the 1st quarter. Swedbank AB now owns 927,606 shares of the company's stock valued at $191,402,000 after buying an additional 811,297 shares during the last quarter. Finally, National Pension Service grew its position in shares of Cloudflare by 53.2% during the 4th quarter. National Pension Service now owns 948,003 shares of the company's stock valued at $186,899,000 after buying an additional 329,341 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NET. Sanford C. Bernstein reissued a "market perform" rating and issued a $136.00 target price on shares of Cloudflare in a report on Wednesday, June 10th. Oppenheimer upped their target price on Cloudflare from $330.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Cantor Fitzgerald reiterated a "neutral" rating and set a $250.00 price target on shares of Cloudflare in a research report on Monday, August 3rd. BTIG Research raised their price target on Cloudflare from $314.00 to $382.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Citigroup boosted their price objective on Cloudflare from $265.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Cloudflare currently has a consensus rating of "Moderate Buy" and an average price target of $320.19.

Cloudflare Trading Down 2.7%

Shares of NYSE:NET opened at $307.22 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.22. The company's 50-day moving average price is $263.16 and its 200 day moving average price is $224.67. The company has a market cap of $108.59 billion, a PE ratio of -529.69, a P/E/G ratio of 230.77 and a beta of 1.65. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $332.22.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The firm had revenue of $696.06 million during the quarter, compared to analysts' expectations of $664.66 million. During the same quarter in the prior year, the firm earned $0.21 EPS. Cloudflare's quarterly revenue was up 35.9% on a year-over-year basis. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. Sell-side analysts anticipate that Cloudflare, Inc. will post 0.03 earnings per share for the current year.

Insider Transactions at Cloudflare

In related news, CEO Matthew Prince sold 52,422 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $249.09, for a total value of $13,057,795.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 35,080 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $213.98, for a total value of $7,506,418.40. Following the completion of the sale, the insider owned 47,425 shares in the company, valued at approximately $10,148,001.50. This represents a 42.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 682,854 shares of company stock worth $170,618,958. Company insiders own 10.66% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source