Skandinaviska Enskilda Banken AB publ Grows Stake in Cloudflare, Inc. $NET

Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 4.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 64,943 shares of the company’s stock after purchasing an additional 2,599 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cloudflare were worth $12,718,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NET. AE Wealth Management LLC purchased a new position in shares of Cloudflare in the 1st quarter worth approximately $212,000. HB Wealth Management LLC bought a new stake in Cloudflare in the first quarter worth $349,000. Mackenzie Financial Corp boosted its stake in Cloudflare by 23.5% during the first quarter. Mackenzie Financial Corp now owns 18,088 shares of the company’s stock worth $2,038,000 after buying an additional 3,447 shares during the period. GSA Capital Partners LLP bought a new position in Cloudflare during the first quarter valued at $557,000. Finally, XTX Topco Ltd purchased a new stake in shares of Cloudflare in the first quarter valued at $342,000. 82.68% of the stock is owned by institutional investors.

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $226.46, for a total transaction of $11,862,880.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 41,555 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 137,486 shares in the company, valued at $26,697,031.48. This trade represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 645,609 shares of company stock worth $135,476,411. Company insiders own 10.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NET shares. Mizuho lifted their price target on shares of Cloudflare from $240.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Argus raised their price objective on shares of Cloudflare from $238.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Royal Bank Of Canada upped their target price on Cloudflare from $250.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. DZ Bank upgraded Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 price target on the stock in a report on Wednesday, November 5th. Finally, Citizens Jmp boosted their price objective on Cloudflare from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.35.

Cloudflare Stock Performance

Cloudflare stock opened at $200.07 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $70.08 billion, a PE ratio of -666.90 and a beta of 2.10. The company has a 50 day moving average price of $216.93 and a 200-day moving average price of $200.23. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00.

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