Public Employees Retirement System of Ohio Has $23.46 Million Position in Cloudflare, Inc. $NET

Public Employees Retirement System of Ohio boosted its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 27.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 119,814 shares of the company's stock after purchasing an additional 26,039 shares during the period. Public Employees Retirement System of Ohio's holdings in Cloudflare were worth $23,463,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Cloudflare by 86.8% during the 1st 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 boosted its position in Cloudflare by 64.5% during the first quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company's stock valued at $1,367,000 after purchasing an additional 4,755 shares during the last quarter. American Century Companies Inc. grew its stake in Cloudflare by 34.5% in the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock valued at $342,287,000 after purchasing an additional 779,819 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Cloudflare by 9.6% in the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock valued at $297,000 after purchasing an additional 230 shares in the last quarter. Finally, Amalgamated Bank increased its position in Cloudflare by 7.0% in the 1st quarter. Amalgamated Bank now owns 21,402 shares of the company's stock worth $2,412,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $184.58, for a total value of $9,669,038.72. Following the transaction, the chief executive officer directly owned 381,213 shares of the company's stock, valued at $70,364,295.54. The trade was a 12.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 59,130 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $200.30, for a total value of $11,843,739.00. Following the transaction, the chief financial officer owned 241,550 shares of the company's stock, valued at approximately $48,382,465. This trade represents a 19.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 742,020 shares of company stock worth $148,781,529 over the last quarter. 10.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NET shares. Cantor Fitzgerald lifted 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. Guggenheim raised their price objective on shares of Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a research report on Friday, August 1st. Piper Sandler boosted their target price 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. DZ Bank restated a "sell" rating and set a $170.00 price target on shares of Cloudflare in a research note on Tuesday, July 22nd. Finally, Bank of America raised their price target on shares of Cloudflare from $235.00 to $240.00 and gave the company a "buy" rating in a report on Friday, August 1st. One 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $191.28.

Cloudflare Price Performance

NYSE NET opened at $218.21 on Friday. Cloudflare, Inc. has a 1 year low of $77.80 and a 1 year high of $230.10. The company has a fifty day simple moving average of $207.39 and a 200 day simple moving average of $167.23. 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 company has a market cap of $76.04 billion, a P/E ratio of -641.79 and a beta of 1.95.

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

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.

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