VIRGINIA RETIREMENT SYSTEMS ET Al Invests $7.64 Million in Cloudflare, Inc. $NET

Key Points

• Virginia Retirement Systems acquired 31,150 Cloudflare shares worth approximately $7.64 million in the second quarter. Institutional investors collectively own 82.68% of the company.
• Cloudflare reported quarterly revenue of $696.06 million, up 35.9% year over year, and earnings of $0.29 per share—beating analysts’ $0.27 estimate. The stock opened at $284.53, near its 50-day average.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $320.19 target price. However, insiders sold more than 706,000 shares valued at approximately $186.8 million during the last quarter.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,150 shares of the company's stock, valued at approximately $7,640,000.

Several other large investors have also recently added to or reduced their stakes in the business. Lingotto Investment Management LLP acquired a new position in Cloudflare during the fourth quarter worth approximately $34,626,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Cloudflare by 1,984.7% in the fourth quarter. Jupiter Asset Management Ltd. now owns 197,710 shares of the company's stock valued at $38,979,000 after acquiring an additional 188,226 shares during the period. Trek Financial LLC purchased a new position in shares of Cloudflare during the fourth quarter worth approximately $1,793,000. Pictet Asset Management Holding SA increased its holdings in shares of Cloudflare by 17.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company's stock valued at $284,900,000 after acquiring an additional 206,506 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new position in shares of Cloudflare in the 4th quarter valued at $5,543,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Up 2.0%

NET opened at $284.53 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.82 and a quick ratio of 1.82. Cloudflare, Inc. has a 12 month low of $158.83 and a 12 month high of $332.22. The stock has a market capitalization of $100.57 billion, a P/E ratio of -490.57, a P/E/G ratio of 228.00 and a beta of 1.66. The business has a 50 day simple moving average of $281.89 and a 200-day simple moving average of $236.66.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The firm had revenue of $696.06 million for the quarter, compared to analyst estimates of $664.66 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. Cloudflare's quarterly revenue was up 35.9% on a year-over-year basis. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. On average, equities analysts anticipate that Cloudflare, Inc. will post 0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Cloudflare to a "buy" rating in a research note on Tuesday, July 7th. Guggenheim lifted their price objective on shares of Cloudflare from $140.00 to $160.00 and gave the company a "sell" rating in a research note on Friday, August 7th. Barclays upped their target price on shares of Cloudflare from $300.00 to $355.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Royal Bank Of Canada increased their target price on shares of Cloudflare from $290.00 to $346.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Finally, Piper Sandler raised their price target on Cloudflare from $250.00 to $333.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $320.19.

Insider Activity

In other news, insider Michelle Zatlyn sold 33,003 shares of Cloudflare stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $277.43, for a total transaction of $9,156,022.29. Following the completion of the sale, the insider directly owned 69,775 shares in the company, valued at approximately $19,357,678.25. This trade represents a 32.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Graham-Cumming sold 2,520 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $303.97, for a total value of $766,004.40. Following the sale, the director directly owned 494,909 shares in the company, valued at $150,437,488.73. This trade represents a 0.51% 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 706,244 shares of company stock valued at $186,761,866 in the last quarter. Insiders own 10.66% of the company's stock.

Cloudflare Profile

Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.

The company's offerings include content delivery and domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.

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