Sumitomo Mitsui Trust Group Inc. Sells 11,665 Shares of Cloudflare, Inc. $NET

Sumitomo Mitsui Trust Group Inc. cut its stake in Cloudflare, Inc. (NYSE:NET) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,396,266 shares of the company’s stock after selling 11,665 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.40% of Cloudflare worth $273,431,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hilltop National Bank bought a new stake in Cloudflare in the second quarter valued at approximately $36,000. Ameritas Advisory Services LLC purchased a new stake in Cloudflare in the 2nd quarter valued at $39,000. Mather Group LLC. raised its position in Cloudflare by 1,188.2% in the 1st 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. Cullen Frost Bankers Inc. purchased a new stake in Cloudflare in the 2nd quarter valued at $45,000. Finally, LRI Investments LLC increased its position in shares of Cloudflare by 680.5% during the 2nd quarter. LRI Investments LLC now owns 320 shares of the company’s stock valued at $63,000 after purchasing an additional 279 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NET has been the subject of several research analyst reports. Needham & Company LLC raised their target price on Cloudflare from $200.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Mizuho raised their target price on Cloudflare from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Royal Bank Of Canada raised their target price on Cloudflare from $210.00 to $228.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Citigroup increased their price target on Cloudflare from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Finally, Cantor Fitzgerald increased their price target on Cloudflare from $162.00 to $199.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.21.

Insider Activity

In related news, Director John Graham-Cumming sold 2,520 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $221.36, for a total value of $557,827.20. Following the transaction, the director owned 495,191 shares of the company’s stock, valued at $109,615,479.76. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on 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 completion of the transaction, the insider directly owned 14,575 shares in the company, valued at approximately $3,139,163.50. This represents a 63.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 708,670 shares of company stock worth $147,000,646. Company insiders own 10.89% of the company’s stock.

Cloudflare Stock Up 0.4%

Shares of NYSE NET opened at $218.10 on Friday. Cloudflare, Inc. has a 52 week low of $85.60 and a 52 week high of $230.10. The business has a 50-day simple moving average of $214.12 and a two-hundred day simple moving average of $182.02. 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 company has a market cap of $76.00 billion, a P/E ratio of -641.46 and a beta of 1.99.

Cloudflare (NYSE:NET) last issued 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. 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 firm’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the company 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. Research analysts anticipate 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.