Cloudflare, Inc. $NET Stake Lifted by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP significantly increased its holdings in Cloudflare, Inc. by 41.3% in the first quarter, reaching a total of 8,382 shares valued at approximately $945,000.
• Cloudflare's stock has a 12-month low of $74.88 and a high of $219.00, currently trading at $208.96, with a market cap of $72.82 billion.
• Several institutional investors have also recently adjusted their stakes in Cloudflare, with Vanguard Group and American Century Companies both increasing their positions by 1.8% and 34.5%, respectively.

Wellington Management Group LLP increased its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 41.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,382 shares of the company's stock after buying an additional 2,452 shares during the quarter. Wellington Management Group LLP's holdings in Cloudflare were worth $945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NET. Fred Alger Management LLC raised its holdings in shares of Cloudflare by 856.3% in the 4th quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock worth $100,604,000 after purchasing an additional 836,591 shares during the period. Nuveen LLC purchased a new position in shares of Cloudflare in the 1st quarter valued at $88,203,000. American Century Companies Inc. lifted its holdings in shares of Cloudflare by 34.5% during the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock valued at $342,287,000 after acquiring an additional 779,819 shares in the last quarter. Raymond James Financial Inc. boosted its position in Cloudflare by 129.7% during the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock worth $123,647,000 after purchasing an additional 619,526 shares during the period. Finally, Vanguard Group Inc. boosted its position in Cloudflare by 1.8% during the 1st 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. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $171.25, for a total transaction of $8,970,760.00. Following the sale, the chief executive officer owned 381,213 shares of the company's stock, valued at approximately $65,282,726.25. The trade was a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michelle Zatlyn sold 35,100 shares of Cloudflare stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $191.71, for a total value of $6,729,021.00. Following the sale, the insider directly owned 14,575 shares in the company, valued at $2,794,173.25. The trade was a 70.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 676,814 shares of company stock worth $128,862,556 over the last ninety days. Insiders own 10.89% of the company's stock.

Cloudflare Stock Performance

Shares of NYSE:NET traded up $4.69 during trading on Thursday, reaching $210.40. 713,940 shares of the company's stock traded hands, compared to its average volume of 3,528,600. The stock has a market capitalization of $73.32 billion, a P/E ratio of -618.82 and a beta of 1.95. Cloudflare, Inc. has a 12 month low of $74.88 and a 12 month high of $219.00. The company has a 50 day moving average of $197.41 and a 200-day moving average of $158.99. 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 posted its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating 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 company had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same period in the prior year, the company earned $0.20 earnings per share. The business's revenue 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. On average, equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

NET has been the topic of a number of recent research reports. DZ Bank restated a "sell" rating and set a $170.00 price objective on shares of Cloudflare in a research note on Tuesday, July 22nd. Needham & Company LLC boosted their price target on Cloudflare from $200.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Oppenheimer restated an "outperform" rating and issued a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Scotiabank boosted their target price on shares of Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Finally, Mizuho lifted their price target on shares of Cloudflare from $220.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.