Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Cloudflare, Inc. (NYSE:NET – Free Report) by 4.9% in the 3rd quarter, Holdings Channel reports. The firm owned 1,046,812 shares of the company’s stock after buying an additional 48,956 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Cloudflare were worth $363,537,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GK Wealth Management LLC bought a new stake in Cloudflare in the 3rd quarter worth approximately $25,000. Toth Financial Advisory Corp purchased a new stake in Cloudflare during the 3rd quarter valued at $36,000. Cornerstone Financial Management LLC raised its stake in Cloudflare by 65.3% during the 2nd quarter. Cornerstone Financial Management LLC now owns 119 shares of the company’s stock valued at $29,000 after buying an additional 47 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Cloudflare during the 2nd quarter valued at $30,000. Finally, CX Institutional lifted its holdings in shares of Cloudflare by 49.4% during the 2nd quarter. CX Institutional now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 44 shares during the period. Institutional investors own 82.68% of the company’s stock.
Cloudflare Trading Down 9.8%
Cloudflare stock opened at $279.86 on Friday. Cloudflare, Inc. has a 12-month low of $158.83 and a 12-month high of $370.35. The firm has a market capitalization of $98.92 billion, a price-to-earnings ratio of -482.52, a P/E/G ratio of 223.25 and a beta of 1.65. The firm has a 50 day moving average of $320.77 and a 200 day moving average of $247.79. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.22.
Cloudflare (NYSE:NET – Get Free Report) last issued its quarterly 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. The business had revenue of $696.06 million for the quarter, compared to the consensus estimate of $664.66 million. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. As a group, research analysts predict that Cloudflare, Inc. will post 0.03 earnings per share for the current year.
Analysts Set New Price Targets
NET has been the topic of a number of research reports. Jefferies Financial Group set a $350.00 price target on Cloudflare in a research note on Friday, August 7th. TD Cowen upped their price objective on Cloudflare from $355.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Mizuho upped their price objective on Cloudflare from $260.00 to $310.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Raymond James Financial assumed coverage on Cloudflare in a report on Tuesday, July 7th. They issued a “strong-buy” rating on the stock. Finally, Oppenheimer raised their target price on Cloudflare from $380.00 to $430.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $333.70.
View Our Latest Research Report on Cloudflare
Insider Transactions at Cloudflare
In related news, CEO Matthew Prince sold 52,383 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $283.42, for a total transaction of $14,846,389.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 stock in a transaction that occurred 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 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 sold a total of 476,339 shares of company stock valued at $143,439,267 over the last 90 days. Company insiders own 10.66% of the company’s stock.
Cloudflare Company Profile
Cloudflare, Inc (NYSE: NET) provides cloud connectivity, security and performance services for websites, applications, corporate networks and other internet-connected resources. Its global network is designed to help organizations improve the reliability, speed and security of digital services while reducing the complexity of managing internet infrastructure.
The company’s offerings include content delivery and authoritative domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.
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