Public Employees Retirement System of Ohio Buys 26,039 Shares of Cloudflare, Inc. $NET

Public Employees Retirement System of Ohio grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 27.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 119,814 shares of the company’s stock after buying an additional 26,039 shares during the period. Public Employees Retirement System of Ohio’s holdings in Cloudflare were worth $23,463,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Cloudflare by 86.8% during the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company’s stock valued at $123,000 after acquiring an additional 508 shares during the period. Wealthedge Investment Advisors LLC grew its holdings in shares of Cloudflare by 64.5% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company’s stock worth $1,367,000 after purchasing an additional 4,755 shares in the last quarter. American Century Companies Inc. increased its position in shares of Cloudflare by 34.5% during the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock valued at $342,287,000 after purchasing an additional 779,819 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of Cloudflare by 9.6% during the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company’s stock valued at $297,000 after purchasing an additional 230 shares during the period. Finally, Amalgamated Bank raised its stake in shares of Cloudflare by 7.0% in the first quarter. Amalgamated Bank now owns 21,402 shares of the company’s stock valued at $2,412,000 after purchasing an additional 1,400 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $226.46, for a total value of $11,862,880.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Graham-Cumming sold 10,215 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $206.32, for a total transaction of $2,107,558.80. Following the transaction, the director owned 495,191 shares in the company, valued at approximately $102,167,807.12. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 742,020 shares of company stock valued at $148,781,529. 10.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Cloudflare from $151.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Cantor Fitzgerald raised their price objective on shares of Cloudflare from $162.00 to $199.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Morgan Stanley upped their target price on shares of Cloudflare from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. JMP Securities raised their price target on shares of Cloudflare from $180.00 to $225.00 and gave the stock a “market outperform” rating in a research note on Monday, July 28th. Finally, Citigroup lifted their price objective on Cloudflare from $240.00 to $255.00 and gave the company a “buy” rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.28.

Cloudflare Stock Performance

NYSE NET opened at $218.21 on Friday. Cloudflare, Inc. has a 1-year low of $77.80 and a 1-year high of $230.10. The company has a 50 day moving average of $207.39 and a 200-day moving average of $167.23. 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 firm has a market cap of $76.04 billion, a price-to-earnings ratio of -641.79 and a beta of 1.95.

Cloudflare (NYSE:NET) last announced 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 business earned $0.20 EPS. Cloudflare’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 forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

About Cloudflare

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.