Saudi Central Bank Has $5.33 Million Stock Holdings in Cloudflare, Inc. $NET

Key Points

• Saudi Central Bank increased its Cloudflare position by 86.2% in the second quarter, bringing its holdings to 21,718 shares valued at approximately $5.33 million. Institutional investors and hedge funds collectively own 82.68% of the stock.
• Cloudflare reported quarterly EPS of $0.29, beating estimates of $0.27, while revenue rose 35.9% year over year to $696.06 million. Despite the growth, the company posted a negative net margin of 8.21%.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $320.19, although targets and ratings range widely. Cloudflare insiders sold about 640,238 shares worth $168.4 million over the past three months under pre-arranged trading plans.

Saudi Central Bank boosted its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 86.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,718 shares of the company's stock after acquiring an additional 10,056 shares during the period. Saudi Central Bank's holdings in Cloudflare were worth $5,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new position in Cloudflare during the 4th quarter valued at about $25,000. Wiser Advisor Group LLC acquired a new stake in shares of Cloudflare during the 3rd quarter worth approximately $26,000. Wexford Capital LP acquired a new stake in shares of Cloudflare during the 3rd quarter worth approximately $30,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Cloudflare during the second quarter worth approximately $30,000. Finally, CX Institutional raised its stake in shares of Cloudflare by 49.4% during the second quarter. CX Institutional now owns 133 shares of the company's stock worth $33,000 after buying an additional 44 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $278.88 on Monday. The firm's 50 day simple moving average is $280.40 and its 200 day simple moving average is $235.41. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $332.22. The company has a market capitalization of $98.58 billion, a price-to-earnings ratio of -480.83, a P/E/G ratio of 228.00 and a beta of 1.66. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.82 and a quick ratio of 1.82.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 previous year, the company earned $0.21 earnings per share. The business's revenue for the quarter 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. As a group, sell-side analysts forecast that Cloudflare, Inc. will post 0.03 earnings per share for the current year.

Insider Transactions at Cloudflare

In other news, insider Michelle Zatlyn sold 33,003 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $294.63, for a total value of $9,723,673.89. Following the completion of the transaction, the insider owned 69,775 shares of the company's stock, valued at $20,557,808.25. The trade was a 32.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Seifert sold 55,000 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $300.30, for a total transaction of $16,516,500.00. Following the completion of the sale, the chief financial officer owned 113,790 shares of the company's stock, valued at approximately $34,171,137. This represents a 32.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 640,238 shares of company stock valued at $168,400,647 over the last three months. 10.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NET shares. TD Cowen increased their price objective on shares of Cloudflare from $300.00 to $355.00 and gave the company a "buy" rating in a report on Friday, August 7th. Guggenheim lifted their target price on shares of Cloudflare from $140.00 to $160.00 and gave the stock a "sell" rating in a report on Friday, August 7th. Jefferies Financial Group set a $350.00 target price on shares of Cloudflare in a research report on Friday, August 7th. DZ Bank downgraded Cloudflare from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, August 7th. Finally, UBS Group raised their price target on Cloudflare from $250.00 to $350.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $320.19.

Cloudflare Company 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.

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