Cloudflare, Inc. $NET Shares Acquired by Whittier Trust Co.

Whittier Trust Co. increased its stake in shares of Cloudflare, Inc. (NYSE:NETFree Report) by 37,884.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 228,664 shares of the company’s stock after purchasing an additional 228,062 shares during the period. Whittier Trust Co.’s holdings in Cloudflare were worth $44,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted 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 acquiring an additional 538,850 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cloudflare by 33.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock worth $352,610,000 after acquiring an additional 786,063 shares in the last quarter. American Century Companies Inc. lifted its position in Cloudflare by 34.5% during the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock worth $342,287,000 after acquiring an additional 779,819 shares in the last quarter. Northern Trust Corp lifted its position in Cloudflare by 1.7% during the 1st quarter. Northern Trust Corp now owns 1,880,888 shares of the company’s stock worth $211,957,000 after acquiring an additional 31,745 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Cloudflare by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company’s stock worth $148,887,000 after acquiring an additional 99,448 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on NET. Royal Bank Of Canada boosted their price target on Cloudflare from $210.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Scotiabank upped their target price on Cloudflare from $135.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Robert W. Baird upped their target price on Cloudflare from $148.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Citigroup upped their target price on Cloudflare from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Finally, DZ Bank reaffirmed a “sell” rating and issued a $170.00 target price on shares of Cloudflare in a research report on Tuesday, July 22nd. One 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $196.54.

View Our Latest Stock Report on NET

Cloudflare Price Performance

Shares of NYSE NET opened at $212.80 on Tuesday. Cloudflare, Inc. has a twelve month low of $85.60 and a twelve month 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 company has a market capitalization of $74.16 billion, a price-to-earnings ratio of -625.87 and a beta of 1.99. The business has a 50 day simple moving average of $212.89 and a 200-day simple moving average of $179.93.

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

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $200.43, for a total transaction of $10,499,325.12. Following the completion of the transaction, the chief executive officer directly owned 20,111 shares in the company, valued at $4,030,847.73. This represents a 72.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 35,100 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $191.71, for a total value of $6,729,021.00. Following the transaction, the insider owned 14,575 shares of the company’s stock, valued at approximately $2,794,173.25. The trade was a 70.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 710,270 shares of company stock worth $147,320,646 in the last three months. 10.89% of the stock is owned by insiders.

About Cloudflare

(Free Report)

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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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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