Stonekeep Investments LLC Buys Shares of 1,403 Cloudflare, Inc. $NET

Key Points

• Stonekeep Investments LLC has purchased 1,403 shares of Cloudflare, Inc. ($NET) valued at approximately $275,000 during the second quarter.
• A significant number of institutional investors, including GAMMA Investing LLC and American Century Companies Inc., have increased their stakes in Cloudflare, with 82.68% of the stock now held by institutional investors and hedge funds.
• Analysts have notably raised their target prices for Cloudflare, with firms like Needham & Company and Wells Fargo & Company setting targets between $240 and $250, reflecting a generally positive outlook on the company.

Stonekeep Investments LLC acquired a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,403 shares of the company's stock, valued at approximately $275,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mather Group LLC. lifted its position in shares of Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after acquiring an additional 202 shares in the last quarter. NBC Securities Inc. acquired a new position in Cloudflare during the first quarter worth $27,000. GPS Wealth Strategies Group LLC raised its stake in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares during the period. Finally, Global Financial Private Client LLC lifted its position in Cloudflare by 38,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock worth $43,000 after acquiring an additional 381 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 41,555 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $190.64, for a total value of $7,922,045.20. Following the sale, the chief financial officer directly owned 189,517 shares in the company, valued at approximately $36,129,520.88. The trade was a 17.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $195.61, for a total value of $5,015,636.01. Following the transaction, the insider directly owned 14,575 shares in the company, valued at approximately $2,851,015.75. This represents a 63.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 665,738 shares of company stock worth $131,968,542 over the last 90 days. Corporate insiders own 10.89% of the company's stock.

Analyst Ratings Changes

NET has been the topic of several research reports. Cowen restated a "buy" rating on shares of Cloudflare in a report on Monday, June 16th. Citigroup upped their price target on shares of Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Cantor Fitzgerald lifted their price target on shares of Cloudflare from $162.00 to $199.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Mizuho increased their price target on shares of Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, UBS Group raised their target price on shares of Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Cloudflare Trading Up 1.5%

Shares of NYSE:NET traded up $3.43 during midday trading on Monday, reaching $229.37. The company's stock had a trading volume of 947,503 shares, compared to its average volume of 3,457,198. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The firm has a 50 day moving average price of $204.65 and a two-hundred day moving average price of $165.07. The firm has a market capitalization of $79.93 billion, a price-to-earnings ratio of -674.75 and a beta of 1.95. Cloudflare, Inc. has a fifty-two week low of $77.80 and a fifty-two week high of $230.10.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The firm had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. During the same quarter last year, the firm posted $0.20 earnings per share. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Cloudflare Company 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.