Cloudflare, Inc. $NET Shares Bought by Swedbank AB

Key Points

• Swedbank AB increased its holdings in Cloudflare, Inc. by 9.0%, acquiring an additional 2,831 shares, bringing its total ownership to 34,351 shares worth approximately $6.73 million.
• Cloudflare reported a revenue increase of 27.8% year-over-year, totaling $512.32 million for the last quarter, and exceeded earnings per share estimates with $0.21 per share.
• Various institutional investors increased their stakes, with Vanguard and American Century raising their holdings by 1.8% and 34.5% respectively, reflecting strong institutional interest in Cloudflare.

Swedbank AB increased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,351 shares of the company's stock after purchasing an additional 2,831 shares during the quarter. Swedbank AB's holdings in Cloudflare were worth $6,727,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NET. Vise Technologies Inc. bought a new position in Cloudflare in the 4th quarter valued at $417,000. Toronto Dominion Bank grew its position in Cloudflare by 7.0% in the 4th quarter. Toronto Dominion Bank now owns 39,763 shares of the company's stock valued at $4,282,000 after acquiring an additional 2,605 shares during the last quarter. Mackenzie Financial Corp grew its position in Cloudflare by 2.5% in the 4th quarter. Mackenzie Financial Corp now owns 14,641 shares of the company's stock valued at $1,577,000 after acquiring an additional 357 shares during the last quarter. Putney Financial Group LLC bought a new position in Cloudflare in the 4th quarter valued at $664,000. Finally, Challenger Wealth Management bought a new position in Cloudflare in the 4th quarter valued at $248,000. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Up 1.0%

Cloudflare stock traded up $2.27 during midday trading on Monday, reaching $228.21. The company's stock had a trading volume of 2,635,320 shares, compared to its average volume of 2,190,832. Cloudflare, Inc. has a 52-week low of $77.80 and a 52-week high of $230.10. 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 stock's 50-day simple moving average is $205.56 and its 200-day simple moving average is $165.78.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The firm had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. During the same period last year, the business posted $0.20 earnings per share. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity

In related news, insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $195.61, for a total transaction of $5,015,636.01. Following the sale, the insider directly owned 14,575 shares of the company's stock, valued at $2,851,015.75. This trade represents a 63.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Graham-Cumming sold 10,215 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $206.32, for a total value of $2,107,558.80. Following the sale, the director directly owned 495,191 shares in the company, valued at approximately $102,167,807.12. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 690,738 shares of company stock valued at $137,603,592 over the last 90 days. Company insiders own 10.89% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Piper Sandler increased their price target on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wells Fargo & Company increased their price target on Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Oppenheimer reissued an "outperform" rating and set a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. Bank of America upped their price objective on Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Citigroup upped their price objective on Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. 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 given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $191.28.

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.