Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET – Free Report) in the third quarter, Holdings Channel reports. The fund acquired 41,166 shares of the company’s stock, valued at approximately $14,296,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. GK Wealth Management LLC acquired a new stake in Cloudflare in the third quarter worth $25,000. Cornerstone Financial Management LLC boosted its holdings in shares of Cloudflare by 65.3% during the second quarter. Cornerstone Financial Management LLC now owns 119 shares of the company’s stock valued at $29,000 after acquiring an additional 47 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of Cloudflare during the second quarter valued at $30,000. CX Institutional boosted its holdings in shares of Cloudflare by 49.4% during the second quarter. CX Institutional now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 44 shares during the period. Finally, Cape Investment Advisory Inc. bought a new position in shares of Cloudflare during the second quarter worth about $33,000. 82.68% of the stock is currently owned by institutional investors.
Insider Activity at Cloudflare
In other Cloudflare news, Director Carl Ledbetter sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $281.98, for a total transaction of $1,409,900.00. Following the transaction, the director owned 883,073 shares of the company’s stock, valued at approximately $249,008,924.54. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Seifert sold 12,500 shares of the firm’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $299.59, for a total transaction of $3,744,875.00. Following the transaction, the chief financial officer directly owned 104,958 shares in the company, valued at approximately $31,444,367.22. The trade was a 10.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 264,057 shares of company stock worth $80,926,805 in the last 90 days. Corporate insiders own 10.66% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on NET. Craig Hallum raised shares of Cloudflare to a “buy” rating in a report on Tuesday. Mizuho boosted their target price on shares of Cloudflare from $260.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Barclays upped their target price on shares of Cloudflare from $355.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. UBS Group assumed coverage on shares of Cloudflare in a research report on Tuesday. They issued a “buy” rating for the company. Finally, Sanford C. Bernstein raised their price target on shares of Cloudflare from $181.00 to $245.00 and gave the company a “market perform” rating in a research note on Thursday, October 29th. Twenty-four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average target price of $333.21.
Key Headlines Impacting Cloudflare
Here are the key news stories impacting Cloudflare this week:
- Positive Sentiment: JPMorgan raised its rating from Neutral to Overweight and set a $350 price target, citing an appealing entry point after the stock’s roughly 26% decline over the previous month and potential for faster revenue growth. JPMorgan upgrades Cloudflare after selloff
- Neutral Sentiment: Cloudflare’s November 5 earnings report is the next key catalyst. Investors will assess demand for its AI, Workers and security products, as well as whether growth can support its valuation. Cloudflare earnings date
- Negative Sentiment: Jefferies lowered its price target from $350 to $320 and maintained a Hold rating, signaling less upside than its prior forecast. Jefferies lowers Cloudflare price target
- Negative Sentiment: Valuation remains a concern: bearish analysts argue that the share price assumes substantial future margin expansion and AI monetization, while profitability and cash generation have yet to justify that premium. Cloudflare has also retreated from its October high amid pressure on expensive software and AI stocks. Cloudflare earnings and valuation analysis
Cloudflare Trading Up 3.0%
NYSE:NET opened at $273.17 on Wednesday. The stock has a market cap of $96.56 billion, a price-to-earnings ratio of -470.98, a PEG ratio of 210.90 and a beta of 1.37. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.82 and a current ratio of 1.82. Cloudflare, Inc. has a 1 year low of $158.83 and a 1 year high of $370.35. The business has a fifty day moving average of $320.06 and a 200-day moving average of $248.60.
Cloudflare (NYSE:NET – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $696.06 million for the quarter, compared to analysts’ expectations 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 was up 35.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share. Equities analysts predict that Cloudflare, Inc. will post 0.03 earnings per share for the current year.
About Cloudflare
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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