Meiji Yasuda Asset Management Co Ltd. bought a new stake in Cloudflare, Inc. (NYSE:NET – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 34,384 shares of the company’s stock, valued at approximately $8,434,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Cloudflare in the fourth quarter valued at approximately $718,316,000. Jennison Associates LLC lifted its position in Cloudflare by 135.8% during the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company’s stock worth $906,758,000 after buying an additional 2,530,872 shares in the last quarter. Corient Private Wealth LLC lifted its position in Cloudflare by 4,042.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock worth $275,887,000 after buying an additional 1,365,598 shares in the last quarter. Swedbank AB boosted its stake in Cloudflare by 697.5% during the first quarter. Swedbank AB now owns 927,606 shares of the company’s stock worth $191,402,000 after buying an additional 811,297 shares during the last quarter. Finally, National Pension Service grew its holdings in Cloudflare by 53.2% in the 4th quarter. National Pension Service now owns 948,003 shares of the company’s stock valued at $186,899,000 after buying an additional 329,341 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 several analyst reports. Stifel Nicolaus set a $260.00 price target on Cloudflare in a report on Friday, May 8th. Robert W. Baird set a $330.00 price objective on shares of Cloudflare in a research report on Friday, August 7th. Raymond James Financial started coverage on shares of Cloudflare in a report on Tuesday, July 7th. They issued a “strong-buy” rating on the stock. Piper Sandler upped their price target on Cloudflare from $250.00 to $333.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada increased their target price on shares of Cloudflare from $290.00 to $346.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.19.
Cloudflare Price Performance
Shares of NET opened at $293.16 on Monday. The firm’s 50 day moving average price is $268.24 and its 200 day moving average price is $227.77. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.22. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $332.22. The company has a market cap of $103.62 billion, a P/E ratio of -505.45, a PEG ratio of 180.01 and a beta of 1.65.
Cloudflare (NYSE:NET – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The firm had revenue of $696.06 million for the quarter, compared to analysts’ expectations of $664.66 million. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. On average, research analysts forecast that Cloudflare, Inc. will post 0.03 earnings per share for the current fiscal year.
Insider Activity at Cloudflare
In other news, CEO Matthew Prince sold 52,422 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $249.09, for a total transaction of $13,057,795.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $294.63, for a total transaction of $9,723,673.89. Following the completion of the sale, the insider directly owned 69,775 shares of the company’s stock, valued at approximately $20,557,808.25. This trade represents a 32.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 682,415 shares of company stock valued at $177,417,210 over the last quarter. 10.66% of the stock is owned by insiders.
About Cloudflare
Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.
In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.
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