Cloudflare, Inc. $NET Shares Purchased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd increased its position in shares of Cloudflare, Inc. (NYSE:NET) by 2,547.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 490,057 shares of the company’s stock after acquiring an additional 471,549 shares during the period. AustralianSuper Pty Ltd’s holdings in Cloudflare were worth $95,968,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its holdings in Cloudflare by 4.9% during the second quarter. Teacher Retirement System of Texas now owns 46,887 shares of the company’s stock worth $9,182,000 after purchasing an additional 2,208 shares during the last quarter. Aequim Alternative Investments LP raised its holdings in Cloudflare by 612.7% during the second quarter. Aequim Alternative Investments LP now owns 23,519 shares of the company’s stock worth $4,606,000 after purchasing an additional 20,219 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Cloudflare by 58.6% during the second quarter. Envestnet Asset Management Inc. now owns 322,600 shares of the company’s stock worth $63,175,000 after purchasing an additional 119,150 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Cloudflare by 25.5% during the second quarter. Nisa Investment Advisors LLC now owns 22,175 shares of the company’s stock worth $4,343,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Resonant Capital Advisors LLC acquired a new position in Cloudflare during the second quarter worth $229,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NET. UBS Group lifted their price objective on Cloudflare from $215.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Scotiabank boosted their price target on Cloudflare from $135.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Citigroup boosted their price target on Cloudflare from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Wells Fargo & Company boosted their price target on Cloudflare from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Bank of America boosted their price target on Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Cloudflare has a consensus rating of “Moderate Buy” and an average target price of $198.21.

Cloudflare Price Performance

Shares of NYSE:NET opened at $218.10 on Monday. The company has a market cap of $76.00 billion, a P/E ratio of -641.46 and a beta of 1.99. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 52 week low of $85.60 and a 52 week high of $230.10. The business has a fifty day simple moving average of $214.12 and a 200-day simple moving average of $183.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS 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 revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $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 research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction on Monday, October 20th. The stock was sold at an average price of $211.81, for a total value of $2,118,100.00. Following the completion of the sale, the chief financial officer owned 189,517 shares of the company’s stock, valued at $40,141,595.77. The trade was a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michelle Zatlyn sold 25,641 shares of the business’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $215.38, for a total value of $5,522,558.58. Following the sale, the insider directly owned 14,575 shares of the company’s stock, valued at approximately $3,139,163.50. This trade represents a 63.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 634,540 shares of company stock valued at $132,159,157. 10.89% of the stock is currently owned by company insiders.

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.