UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Increases Stake in Cloudflare, Inc. $NET

Key Points

• UBS Asset Management increased its stake in Cloudflare, Inc. by 33.5% in Q1, now owning approximately 0.91% of the company's stock worth $352.61 million.
• Several hedge funds boosted their positions in Cloudflare, leading to institutional investors controlling about 82.68% of the stock.
• Cloudflare reported a revenue of $512.32 million for the last quarter, exceeding expectations, with a year-over-year increase of 27.8%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 33.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,129,030 shares of the company's stock after purchasing an additional 786,063 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.91% of Cloudflare worth $352,610,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company's stock worth $750,000 after acquiring an additional 1,696 shares during the period. Sciencast Management LP purchased a new stake in Cloudflare in the first quarter worth $2,907,000. Sender Co & Partners Inc. purchased a new stake in Cloudflare in the first quarter worth $685,000. Dynamic Technology Lab Private Ltd lifted its stake in Cloudflare by 10.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 10,560 shares of the company's stock worth $1,190,000 after acquiring an additional 990 shares during the period. Finally, Teza Capital Management LLC purchased a new stake in Cloudflare in the first quarter worth $347,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on NET. Cowen reaffirmed a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. JMP Securities raised their price target on Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Monday, July 28th. Mizuho raised their price target on Cloudflare from $220.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Oppenheimer restated an "outperform" rating and set a $200.00 price target (up from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. Finally, Piper Sandler lifted their price target on Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. 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 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 Trading Up 2.0%

NYSE NET opened at $222.85 on Thursday. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. The stock's 50 day moving average is $200.05 and its 200 day moving average is $160.89. Cloudflare, Inc. has a twelve month low of $75.22 and a twelve month high of $225.29. The firm has a market capitalization of $77.66 billion, a PE ratio of -655.45 and a beta of 1.95.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.21 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 business had revenue of $512.32 million for the quarter, compared to the consensus estimate of $501.58 million. During the same period in the previous year, the company 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. Research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $195.73, for a total value of $2,935,950.00. Following the sale, the director directly owned 1,028,073 shares of the company's stock, valued at approximately $201,224,728.29. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michelle Zatlyn sold 25,641 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $195.61, for a total value of $5,015,636.01. Following the completion of the sale, the insider directly owned 14,575 shares in the company, valued at $2,851,015.75. This trade represents a 63.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 633,404 shares of company stock valued at $121,335,185. Company 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.

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