Cloudflare, Inc. $NET Stock Holdings Lifted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its position in Cloudflare, Inc. (NYSE:NET) by 7.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,999 shares of the company’s stock after buying an additional 982 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cloudflare were worth $2,937,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NET. NBC Securities Inc. purchased a new position in shares of Cloudflare in the first quarter worth approximately $27,000. Pallas Capital Advisors LLC grew its position in Cloudflare by 5.4% during the first quarter. Pallas Capital Advisors LLC now owns 2,926 shares of the company’s stock valued at $330,000 after purchasing an additional 151 shares in the last quarter. Yousif Capital Management LLC grew its position in Cloudflare by 2.5% during the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company’s stock valued at $447,000 after purchasing an additional 98 shares in the last quarter. GAMMA Investing LLC grew its position 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 purchasing an additional 508 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Cloudflare by 62.4% during the first quarter. SG Americas Securities LLC now owns 15,695 shares of the company’s stock valued at $1,769,000 after purchasing an additional 6,030 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NET has been the topic of a number of research analyst reports. DZ Bank reaffirmed a “sell” rating and set a $170.00 price objective on shares of Cloudflare in a research report on Tuesday, July 22nd. Mizuho boosted their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Needham & Company LLC boosted their price objective on shares of Cloudflare from $200.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Bank of America boosted their price objective on shares of Cloudflare from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Cantor Fitzgerald lifted their target price on shares of Cloudflare from $162.00 to $199.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have given 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.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 9,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $213.48, for a total transaction of $1,921,320.00. Following the completion of the sale, the insider directly owned 132,185 shares of the company’s stock, valued at approximately $28,218,853.80. This represents a 6.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 10,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $227.64, for a total transaction of $2,276,400.00. Following the sale, the chief financial officer directly owned 189,517 shares of the company’s stock, valued at approximately $43,141,649.88. This represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 673,534 shares of company stock worth $137,405,454 in the last quarter. 10.89% of the stock is owned by corporate insiders.

Cloudflare Price Performance

NYSE NET opened at $213.95 on Friday. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $74.56 billion, a PE ratio of -629.26 and a beta of 1.99. The company has a 50 day moving average price of $211.99 and a two-hundred day moving average price of $174.80. Cloudflare, Inc. has a 12-month low of $85.60 and a 12-month high of $230.10.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating 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 was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company 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. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.