Whittier Trust Co. of Nevada Inc. Grows Stock Holdings in Cloudflare, Inc. $NET

Whittier Trust Co. of Nevada Inc. increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 4,196.9% in the 2nd quarter, Holdings Channel reports. The firm owned 99,861 shares of the company’s stock after buying an additional 97,537 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Cloudflare were worth $19,556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NET. Mather Group LLC. increased its holdings in Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company’s stock valued at $25,000 after buying an additional 202 shares during the last quarter. Hilltop National Bank purchased a new stake in Cloudflare during the second quarter valued at approximately $36,000. Ameritas Advisory Services LLC purchased a new stake in Cloudflare during the second quarter valued at approximately $39,000. ORG Partners LLC increased its holdings in Cloudflare by 264.8% during the first quarter. ORG Partners LLC now owns 445 shares of the company’s stock valued at $51,000 after buying an additional 323 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Cloudflare by 208.9% during the first quarter. First Horizon Advisors Inc. now owns 451 shares of the company’s stock valued at $51,000 after buying an additional 305 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 35,100 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the completion of the transaction, the insider directly owned 14,575 shares of the company’s stock, valued at approximately $2,794,173.25. This trade represents a 70.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 59,130 shares of the firm’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the transaction, the chief financial officer directly owned 241,550 shares of the company’s stock, valued at $48,382,465. The trade was a 19.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 710,270 shares of company stock valued at $147,320,646. Corporate insiders own 10.89% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE NET opened at $212.80 on Tuesday. The firm has a fifty day moving average price of $212.89 and a 200-day moving average price of $179.93. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The stock has a market cap of $74.16 billion, a PE ratio of -625.87 and a beta of 1.99. Cloudflare, Inc. has a 1 year low of $85.60 and a 1 year high of $230.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The firm had revenue of $512.32 million during the quarter, compared to analysts’ expectations of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 earnings per share. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on NET shares. KeyCorp upped their target price on shares of Cloudflare from $210.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Cantor Fitzgerald upped their target price on shares of Cloudflare from $162.00 to $199.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Guggenheim upped their target price on shares of Cloudflare from $70.00 to $111.00 and gave the company a “sell” rating in a report on Friday, August 1st. Robert W. Baird upped their target price on shares of Cloudflare from $148.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, October 8th. One research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $196.54.

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.