Teza Capital Management LLC Invests $347,000 in Cloudflare, Inc. $NET

Key Points

• Teza Capital Management LLC has acquired a new position in Cloudflare, Inc. during Q1, purchasing 3,081 shares valued at approximately $347,000.
• Insiders have sold a total of 687,029 shares of Cloudflare stock in the past three months, with significant sales from both the co-founder Michelle Zatlyn and CFO Thomas J. Seifert.
• Research firms have increased their price targets for Cloudflare, with Royal Bank of Canada raising the target from $210 to $228 and Citigroup from $240 to $255, reflecting a consensus rating of "Moderate Buy."

Teza Capital Management LLC acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,081 shares of the company's stock, valued at approximately $347,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Cloudflare by 1.8% in the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock worth $3,475,011,000 after purchasing an additional 538,850 shares during the period. American Century Companies Inc. grew its holdings in Cloudflare by 34.5% in the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after purchasing an additional 779,819 shares during the period. Northern Trust Corp grew its holdings in Cloudflare by 1.7% in the first quarter. Northern Trust Corp now owns 1,880,888 shares of the company's stock worth $211,957,000 after purchasing an additional 31,745 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Cloudflare by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company's stock worth $148,887,000 after purchasing an additional 99,448 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in shares of Cloudflare by 129.7% in the first quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock worth $123,647,000 after buying an additional 619,526 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Stock Performance

Cloudflare stock traded down $3.16 during midday trading on Friday, reaching $221.48. 1,552,368 shares of the company traded hands, compared to its average volume of 3,485,744. The firm has a market capitalization of $77.18 billion, a price-to-earnings ratio of -651.41 and a beta of 1.95. The business has a 50 day moving average of $200.72 and a two-hundred day moving average of $161.42. Cloudflare, Inc. has a 12 month low of $77.60 and a 12 month high of $230.10. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The business had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. During the same period in the prior year, the company earned $0.20 earnings per share. The firm's revenue was up 27.8% on a year-over-year basis. 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, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

NET has been the topic of several analyst reports. Royal Bank Of Canada upped their target price on shares of Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Piper Sandler upped their target price on shares of Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. DZ Bank reiterated a "sell" rating and issued a $170.00 target price on shares of Cloudflare in a research note on Tuesday, July 22nd. Bank of America upped their target price on shares of Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Cowen restated a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $191.28.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $195.73, for a total transaction of $2,935,950.00. Following the completion of the sale, the director directly owned 1,028,073 shares of the company's stock, valued at approximately $201,224,728.29. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $226.46, for a total transaction of $11,862,880.64. The disclosure for this sale can be found here. Insiders sold 685,788 shares of company stock valued at $135,600,920 in the last quarter. Insiders own 10.89% of the company's stock.

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.