Cloudflare, Inc. $NET Shares Acquired by Whittier Trust Co.

Whittier Trust Co. lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 37,884.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 228,664 shares of the company’s stock after buying an additional 228,062 shares during the quarter. Whittier Trust Co. owned approximately 0.07% of Cloudflare worth $44,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Cloudflare by 2.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 55,984 shares of the company’s stock worth $10,821,000 after buying an additional 1,408 shares during the last quarter. Fiduciary Planning LLC raised its stake in shares of Cloudflare by 3.0% during the 2nd quarter. Fiduciary Planning LLC now owns 1,854 shares of the company’s stock worth $363,000 after buying an additional 54 shares during the last quarter. Conestoga Capital Advisors LLC acquired a new position in shares of Cloudflare during the 2nd quarter worth $339,000. Lyell Wealth Management LP raised its stake in shares of Cloudflare by 2.1% during the 2nd quarter. Lyell Wealth Management LP now owns 51,823 shares of the company’s stock worth $10,148,000 after buying an additional 1,075 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Cloudflare by 13.5% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,347 shares of the company’s stock worth $444,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, October 8th. Stifel Nicolaus lifted their price objective on Cloudflare from $175.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. DZ Bank reiterated a “sell” rating and set a $170.00 price objective on shares of Cloudflare in a research report on Tuesday, July 22nd. Scotiabank lifted their price objective on Cloudflare from $135.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. Finally, Bank of America lifted their price objective on Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $196.54.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $200.43, for a total value of $10,499,325.12. Following the transaction, the chief executive officer directly owned 20,111 shares of the company’s stock, valued at $4,030,847.73. The trade was a 72.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 59,130 shares of Cloudflare stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $200.30, for a total value of $11,843,739.00. Following the completion of the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $48,382,465. This represents a 19.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 710,270 shares of company stock valued at $147,320,646 in the last three months. Corporate insiders own 10.89% of the company’s stock.

Cloudflare Stock Up 1.3%

NET opened at $212.80 on Tuesday. 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 capitalization of $74.16 billion, a price-to-earnings ratio of -625.87 and a beta of 1.99. The business has a 50-day moving average of $212.89 and a two-hundred day moving average of $179.93. Cloudflare, Inc. has a 12 month low of $85.60 and a 12 month high of $230.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $512.32 million during the quarter, compared to analysts’ expectations of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The firm’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. On average, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current 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.