Cloudflare, Inc. $NET Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System lifted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 24,491.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,562,194 shares of the company's stock after buying an additional 114,096,335 shares during the period. California State Teachers Retirement System owned approximately 32.41% of Cloudflare worth $28,099,815,000 as of its most recent SEC filing.

• Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NET. Norges Bank purchased a new stake in shares of Cloudflare in the fourth quarter worth about $718,316,000. Jennison Associates LLC boosted its holdings in Cloudflare by 135.8% in the 1st quarter. Jennison Associates LLC now owns 4,394,484 shares of the company's stock worth $906,758,000 after acquiring an additional 2,530,872 shares during the period. Corient Private Wealth LLC boosted its holdings in Cloudflare by 4,042.6% in the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company's stock worth $275,887,000 after acquiring an additional 1,365,598 shares during the period. Swedbank AB grew its position in Cloudflare by 697.5% in the first quarter. Swedbank AB now owns 927,606 shares of the company's stock valued at $191,402,000 after acquiring an additional 811,297 shares in the last quarter. Finally, National Pension Service grew its position in Cloudflare by 53.2% in the fourth quarter. National Pension Service now owns 948,003 shares of the company's stock valued at $186,899,000 after acquiring an additional 329,341 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insiders Place Their Bets

In related news, CFO Thomas Seifert sold 55,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $300.30, for a total value of $16,516,500.00. Following the sale, the chief financial officer directly owned 113,790 shares in the company, valued at $34,171,137. This trade represents a 32.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,422 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $249.09, for a total value of $13,057,795.98. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 640,238 shares of company stock worth $168,400,647. Insiders own 10.66% of the company's stock.

Wall Street Analysts Forecast Growth

• Quantum Computing Is Raising the Stakes for Cybersecurity: 5 Stocks to Watch

NET has been the subject of several analyst reports. Wells Fargo & Company upped their target price on shares of Cloudflare from $300.00 to $380.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $370.00 price target on shares of Cloudflare in a research note on Friday, August 7th. Jefferies Financial Group set a $350.00 price objective on shares of Cloudflare in a report on Friday, August 7th. Zacks Research cut shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 14th. Finally, Raymond James Financial assumed coverage on Cloudflare in a research note on Tuesday, July 7th. They set a "strong-buy" rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $320.19.

View Our Latest Report on Cloudflare

Cloudflare Price Performance

• Fastly’s Q2 Rally Shows Investors Are Buying the Edge AI Turnaround

NET opened at $278.88 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.22. The company's 50-day moving average price is $281.10 and its 200 day moving average price is $236.01. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $332.22. The firm has a market cap of $98.58 billion, a price-to-earnings ratio of -480.83, a price-to-earnings-growth ratio of 228.00 and a beta of 1.66.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. The firm had revenue of $696.06 million during the quarter, compared to the consensus estimate of $664.66 million. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The firm's revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. 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, sell-side analysts expect that Cloudflare, Inc. will post 0.03 earnings per share for the current year.

Cloudflare Profile

(Free Report)

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.

Featured Stories

• Five stocks we like better than Cloudflare
• 3 Under-the-Radar Defense Stocks With Record Backlogs
• This Korea ETF Has Soared, But the Rally May Not Be Over
• Why Guidewire’s Post-Earnings Plunge May Not Last
• Ride-Share Reckoning: Tesla Drives Into Uber's Lane

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Cloudflare Right Now?

Before you consider Cloudflare, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cloudflare wasn't on the list.

While Cloudflare currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here