Jennison Associates LLC Acquires New Shares in Cloudflare, Inc. $NET

Jennison Associates LLC acquired a new position in shares of Cloudflare, Inc. (NYSE:NET) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 196,750 shares of the company’s stock, valued at approximately $38,530,000. Jennison Associates LLC owned about 0.06% of Cloudflare at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Hilltop National Bank acquired a new position in shares of Cloudflare during the 2nd quarter worth approximately $36,000. Ameritas Advisory Services LLC acquired a new position in shares of Cloudflare during the 2nd quarter worth approximately $39,000. Mather Group LLC. raised its position in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Cloudflare during the 2nd quarter worth approximately $45,000. Finally, Whipplewood Advisors LLC raised its position in shares of Cloudflare by 277.6% during the 2nd quarter. Whipplewood Advisors LLC now owns 253 shares of the company’s stock worth $50,000 after purchasing an additional 186 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on NET shares. Piper Sandler lifted their price objective on Cloudflare from $151.00 to $224.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Wells Fargo & Company lifted their price objective on Cloudflare from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, October 8th. Citigroup boosted their price target on Cloudflare from $240.00 to $255.00 and gave the company a “buy” rating in a report on Monday, August 18th. Finally, Scotiabank boosted their price target on Cloudflare from $135.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare presently has an average rating of “Moderate Buy” and a consensus price target of $198.21.

Cloudflare Trading Down 2.2%

Shares of NET opened at $222.48 on Friday. The company has a market capitalization of $77.53 billion, a PE ratio of -654.36 and a beta of 1.99. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The stock has a fifty day moving average of $216.42 and a two-hundred day moving average of $185.82. Cloudflare, Inc. has a fifty-two week low of $85.60 and a fifty-two week high of $231.13.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $430.08 million during the quarter, compared to the consensus estimate of $544.87 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The business’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS. FY 2025 guidance at 0.910-0.910 EPS. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 10,000 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $211.81, for a total transaction of $2,118,100.00. Following the completion of the sale, the chief financial officer directly owned 189,517 shares in the company, valued at $40,141,595.77. This represents a 5.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew Prince sold 52,277 shares of the company’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $213.94, for a total value of $11,184,141.38. Following the sale, the chief executive officer owned 107 shares of the company’s stock, valued at approximately $22,891.58. The trade was a 99.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 631,540 shares of company stock worth $131,564,497. 10.89% of the stock is currently owned by company insiders.

Cloudflare 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.