Whittier Trust Co. of Nevada Inc. Purchases 4,325 Shares of Cloudflare, Inc. $NET

Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 4.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 104,186 shares of the company’s stock after buying an additional 4,325 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Cloudflare were worth $22,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Cloudflare by 2.1% in the second quarter. Vanguard Group Inc. now owns 31,495,565 shares of the company’s stock worth $6,167,776,000 after purchasing an additional 658,656 shares during the period. Geode Capital Management LLC increased its stake in Cloudflare by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,536,679 shares of the company’s stock worth $1,081,533,000 after buying an additional 270,227 shares during the period. Norges Bank bought a new stake in Cloudflare during the 2nd quarter valued at about $541,462,000. Charles Schwab Investment Management Inc. grew its stake in Cloudflare by 3.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,368,906 shares of the company’s stock worth $268,073,000 after acquiring an additional 47,698 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Cloudflare by 96.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company’s stock worth $279,588,000 after acquiring an additional 639,245 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 41,555 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $194.18, for a total transaction of $8,069,149.90. Following the completion of the sale, the chief financial officer owned 137,486 shares of the company’s stock, valued at $26,697,031.48. This represents a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michelle Zatlyn sold 35,099 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $199.26, for a total transaction of $6,993,826.74. Following the completion of the sale, the insider owned 24,555 shares of the company’s stock, valued at approximately $4,892,829.30. This trade represents a 58.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 619,213 shares of company stock worth $122,370,244 in the last 90 days. 10.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on NET. Mizuho lowered their price target on Cloudflare from $280.00 to $255.00 and set an “outperform” rating for the company in a report on Wednesday. Argus upped their target price on Cloudflare from $238.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Stifel Nicolaus increased their price target on Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Robert W. Baird set a $230.00 price objective on Cloudflare in a report on Wednesday, December 17th. Finally, Cantor Fitzgerald upped their price objective on shares of Cloudflare from $199.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $232.48.

Cloudflare Trading Up 0.1%

NET opened at $173.45 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46. The firm has a market cap of $60.76 billion, a price-to-earnings ratio of -578.17, a PEG ratio of 114.08 and a beta of 1.96. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00. The stock has a fifty day moving average price of $195.24 and a 200-day moving average price of $205.86.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, October 30th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The company had revenue of $562.03 million for the quarter, compared to analyst estimates of $544.65 million. Cloudflare had a negative return on equity of 6.54% and a negative net margin of 5.12%.The firm’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS and its FY 2025 guidance at 0.910-0.910 EPS. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

About Cloudflare

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.