Strs Ohio Buys Shares of 6,106 Cloudflare, Inc. $NET

Key Points

• Strs Ohio invested approximately $688,000 in Cloudflare by acquiring 6,106 shares during the first quarter, marking a new position for the fund.
• Multiple hedge funds have increased their stakes in Cloudflare, with 82.68% of the stock now owned by institutional investors.
• Analysts have set new price targets for Cloudflare, with Wells Fargo raising their target from $225 to $250, contributing to a consensus rating of "Moderate Buy" for the stock.

Strs Ohio acquired a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,106 shares of the company's stock, valued at approximately $688,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 valued at $25,000 after buying an additional 202 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Cloudflare during the 1st quarter worth $27,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after purchasing an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after purchasing an additional 142 shares in the last quarter. Finally, Global Financial Private Client LLC grew its holdings in shares of Cloudflare by 38,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock worth $43,000 after purchasing an additional 381 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NET has been the topic of several analyst reports. Guggenheim increased their target price on Cloudflare from $70.00 to $111.00 and gave the stock a "sell" rating in a report on Friday, August 1st. Morgan Stanley increased their target price on Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Piper Sandler increased their target price on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Scotiabank raised their price objective on Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Finally, Needham & Company LLC raised their price objective on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One investment 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of "Moderate Buy" and a consensus target price of $191.28.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $184.58, for a total transaction of $9,669,038.72. Following the sale, the chief executive officer directly owned 381,213 shares in the company, valued at approximately $70,364,295.54. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 34,270 shares of Cloudflare stock in a transaction on Monday, July 21st. The stock was sold at an average price of $200.17, for a total value of $6,859,825.90. Following the sale, the chief financial officer owned 241,550 shares in the company, valued at $48,351,063.50. This trade represents a 12.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 665,738 shares of company stock worth $131,968,542 in the last ninety days. Corporate insiders own 10.89% of the company's stock.

Cloudflare Stock Up 1.7%

Shares of NYSE:NET traded up $3.88 during mid-day trading on Monday, hitting $229.82. 1,192,991 shares of the company traded hands, compared to its average volume of 3,458,805. The stock has a market cap of $80.09 billion, a P/E ratio of -675.59 and a beta of 1.95. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 12-month low of $77.80 and a 12-month high of $230.10. The stock has a 50-day moving average price of $204.65 and a two-hundred day moving average price of $165.07.

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

Cloudflare 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.