SEB Asset Management AB Buys Shares of 68,885 Cloudflare, Inc. $NET

SEB Asset Management AB purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the first quarter, Holdings Channel reports. The fund purchased 68,885 shares of the company’s stock, valued at approximately $14,214,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NET. Norges Bank acquired a new position in shares of Cloudflare in the fourth quarter valued at approximately $718,316,000. Jennison Associates LLC boosted its position in Cloudflare by 135.8% during the 1st 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 during the period. Corient Private Wealth LLC grew its holdings in Cloudflare by 4,042.6% during 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 last quarter. Swedbank AB grew its holdings in Cloudflare by 697.5% during the 1st 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. Finally, Massachusetts Financial Services Co. MA increased its position in Cloudflare by 25.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,639,661 shares of the company’s stock valued at $323,259,000 after acquiring an additional 336,768 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,422 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $249.09, for a total value of $13,057,795.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 35,080 shares of Cloudflare stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $213.98, for a total transaction of $7,506,418.40. Following the completion of the sale, the insider directly owned 47,425 shares of the company’s stock, valued at approximately $10,148,001.50. This trade represents a 42.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 590,544 shares of company stock worth $132,719,009. 10.66% of the stock is owned by insiders.

Cloudflare Price Performance

Shares of NET opened at $272.27 on Tuesday. The firm has a market cap of $96.24 billion, a PE ratio of -1,089.08, a price-to-earnings-growth ratio of 283.00 and a beta of 1.67. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $291.00. The business’s 50 day moving average price is $237.94 and its two-hundred day moving average price is $210.52. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $639.75 million during the quarter, compared to the consensus estimate of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The company’s quarterly revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. On average, equities analysts anticipate that Cloudflare, Inc. will post 0.02 EPS for the current year.

Analysts Set New Price Targets

NET has been the subject of several analyst reports. New Street Research reaffirmed a “market outperform” rating on shares of Cloudflare in a research note on Monday, June 15th. BTIG Research increased their price objective on Cloudflare from $269.00 to $314.00 and gave the company a “buy” rating in a report on Friday, July 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $230.00 target price (up from $224.00) on shares of Cloudflare in a report on Wednesday, June 10th. TD Cowen upped their price target on Cloudflare from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Finally, KeyCorp restated an “overweight” rating on shares of Cloudflare in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $256.74.

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.