SBI Okasan Asset Management Co.Ltd. Acquires New Shares in Cloudflare, Inc. $NET

Key Points

• SBI Okasan Asset Management opened a new position in Cloudflare, buying 6,610 shares valued at about $1.33 million in the fourth quarter.
• Cloudflare continues to draw heavy institutional interest, with 82.68% of its stock owned by institutions and several other funds recently boosting their stakes.
• The company reported strong quarterly results, beating EPS and revenue estimates, while analysts now hold a Moderate Buy consensus with an average price target of $236.68.

SBI Okasan Asset Management Co.Ltd. acquired a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,610 shares of the company's stock, valued at approximately $1,327,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Allianz Asset Management GmbH raised its position in shares of Cloudflare by 322.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 65,182 shares of the company's stock worth $13,987,000 after acquiring an additional 49,749 shares in the last quarter. National Pension Service raised its holdings in Cloudflare by 1.0% in the third quarter. National Pension Service now owns 618,662 shares of the company's stock worth $132,759,000 after purchasing an additional 5,939 shares in the last quarter. Trek Financial LLC bought a new position in Cloudflare in the fourth quarter worth about $1,793,000. Massachusetts Financial Services Co. MA raised its holdings in Cloudflare by 25.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,639,661 shares of the company's stock worth $323,259,000 after purchasing an additional 336,768 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in Cloudflare by 275.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 37,072 shares of the company's stock worth $7,348,000 after purchasing an additional 27,202 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Transactions at Cloudflare

In related news, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $238.12, for a total value of $3,571,800.00. Following the transaction, the director owned 908,073 shares in the company, valued at approximately $216,230,342.76. This represents a 1.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $200.61, for a total transaction of $2,006,100.00. Following the completion of the transaction, the chief financial officer owned 212,014 shares in the company, valued at approximately $42,532,128.54. This trade represents a 4.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 585,862 shares of company stock valued at $121,988,011 over the last quarter. Company insiders own 10.89% of the company's stock.

Cloudflare Trading Up 9.0%

NYSE:NET opened at $227.98 on Friday. Cloudflare, Inc. has a 12 month low of $158.83 and a 12 month high of $260.00. The firm has a fifty day simple moving average of $208.24 and a 200-day simple moving average of $198.67. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $80.58 billion, a P/E ratio of -911.92 and a beta of 1.67.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $639.76 million during the quarter, compared to the consensus estimate of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The business's revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 earnings per share. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NET. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Cloudflare in a research report on Friday, May 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cloudflare in a research report on Monday, April 20th. DZ Bank raised shares of Cloudflare from a "hold" rating to a "buy" rating and set a $215.00 price objective on the stock in a research report on Friday, February 13th. Susquehanna lifted their price objective on shares of Cloudflare from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Finally, Robert W. Baird set a $260.00 price objective on shares of Cloudflare and gave the stock an "outperform" rating in a research report on Wednesday, February 11th. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $236.68.

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.

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