VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 31,150 Cloudflare, Inc. $NET

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Cloudflare, Inc. (NYSE:NET) in the second quarter, HoldingsChannel reports. The firm bought 31,150 shares of the company’s stock, valued at approximately $7,640,000.

Several other large investors have also modified their holdings of NET. California State Teachers Retirement System raised its position in shares of Cloudflare by 24,491.6% during the 2nd quarter. California State Teachers Retirement System now owns 114,562,194 shares of the company’s stock worth $28,099,815,000 after purchasing an additional 114,096,335 shares during the last quarter. Norges Bank acquired a new stake in Cloudflare during the 4th quarter valued at $718,316,000. Jennison Associates LLC increased 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 raised its holdings in shares of Cloudflare by 4,042.6% in the fourth 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 last quarter. Finally, Swedbank AB raised its holdings in shares of Cloudflare by 697.5% in the first quarter. Swedbank AB now owns 927,606 shares of the company’s stock worth $191,402,000 after acquiring an additional 811,297 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of NET stock opened at $284.53 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a market capitalization of $100.57 billion, a price-to-earnings ratio of -490.57, a price-to-earnings-growth ratio of 228.00 and a beta of 1.66. Cloudflare, Inc. has a one year low of $158.83 and a one year high of $332.22. The company has a 50 day moving average price of $281.89 and a 200 day moving average price of $236.66.

Cloudflare (NYSE:NET) last announced its quarterly earnings results 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. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The company had revenue of $696.06 million for the quarter, compared to analyst estimates of $664.66 million. During the same quarter last year, the business earned $0.21 EPS. Cloudflare’s revenue for the quarter was up 35.9% on a year-over-year basis. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. Sell-side analysts anticipate that Cloudflare, Inc. will post 0.03 EPS for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas Seifert sold 55,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $300.30, for a total transaction of $16,516,500.00. Following the completion of the sale, the chief financial officer owned 113,790 shares of the company’s stock, valued at approximately $34,171,137. The trade was a 32.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $249.09, for a total value of $13,057,795.98. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 706,244 shares of company stock worth $186,761,866. 10.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Needham & Company LLC lifted their price objective on Cloudflare from $280.00 to $380.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Piper Sandler raised their price target on shares of Cloudflare from $250.00 to $333.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. KeyCorp lifted their price target on shares of Cloudflare from $300.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Truist Financial upped their price objective on shares of Cloudflare from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Citigroup restated a “market outperform” rating on shares of Cloudflare in a research report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $320.19.

Cloudflare Company Profile

Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.

The company’s offerings include content delivery and domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.