Acadian Asset Management LLC Buys 10,502 Shares of Cloudflare, Inc. $NET

Acadian Asset Management LLC grew its position in shares of Cloudflare, Inc. (NYSE:NET) by 538.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,452 shares of the company’s stock after purchasing an additional 10,502 shares during the period. Acadian Asset Management LLC’s holdings in Cloudflare were worth $1,401,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NET. Janus Henderson Group PLC lifted its position in Cloudflare by 2.2% in the 4th quarter. Janus Henderson Group PLC now owns 22,031 shares of the company’s stock worth $2,374,000 after buying an additional 475 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Cloudflare by 7.0% in the 4th quarter. Toronto Dominion Bank now owns 39,763 shares of the company’s stock worth $4,282,000 after acquiring an additional 2,605 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of Cloudflare by 42.6% in the 4th quarter. Vident Advisory LLC now owns 27,591 shares of the company’s stock worth $2,971,000 after acquiring an additional 8,239 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Cloudflare in the 4th quarter worth approximately $6,638,000. Finally, JT Stratford LLC bought a new stake in Cloudflare in the fourth quarter worth $305,000. Institutional investors own 82.68% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 59,130 shares of the company’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the completion of the transaction, the chief financial officer owned 241,550 shares in the company, valued at approximately $48,382,465. This represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $184.58, for a total transaction of $9,669,038.72. Following the transaction, the chief executive officer owned 381,213 shares of the company’s stock, valued at approximately $70,364,295.54. This represents a 12.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 675,738 shares of company stock valued at $133,776,142. 10.89% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on NET shares. Robert W. Baird boosted their price target on shares of Cloudflare from $148.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Stifel Nicolaus boosted their price objective on Cloudflare from $175.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Bank of America boosted their price objective on Cloudflare from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Citigroup upped their price target on shares of Cloudflare from $240.00 to $255.00 and gave the company a “buy” rating in a report on Monday, August 18th. Finally, Guggenheim upped their price target on shares of Cloudflare from $70.00 to $111.00 and gave the company a “sell” rating in a 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 assigned 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 target price of $191.28.

Cloudflare Trading Down 2.5%

Shares of Cloudflare stock opened at $213.85 on Thursday. The company has a market capitalization of $74.52 billion, a P/E ratio of -628.97 and a beta of 1.95. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The company has a fifty day moving average of $202.91 and a 200 day moving average of $163.54. Cloudflare, Inc. has a fifty-two week low of $77.60 and a fifty-two week high of $230.10.

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

Cloudflare 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.