Cloudflare, Inc. $NET Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. has sold 1,068,000 shares of Cloudflare, Inc., reducing its stake by 33.9% to approximately 2,081,400 shares, valued at about $234.6 million.
• Insider transactions have occurred, including a significant sale by CFO Thomas J. Seifert of 59,130 shares for over $11.8 million, reflecting a 19.67% decrease in ownership.
• Cloudflare’s share price targets vary among analysts, with upgrades to $154.00 from CICC Research and a target as high as $240.00 from Mizuho, indicating a generally positive outlook despite differing opinions.

1832 Asset Management L.P. trimmed its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 33.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,081,400 shares of the company's stock after selling 1,068,000 shares during the period. 1832 Asset Management L.P. owned about 0.60% of Cloudflare worth $234,553,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NET. Mather Group LLC. raised its stake 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 during the period. NBC Securities Inc. purchased a new stake in Cloudflare during the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC increased its stake in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after buying an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after buying an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare during the 4th quarter worth approximately $43,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $198.22, for a total transaction of $594,660.00. Following the completion of the sale, the insider owned 157,377 shares in the company, valued at $31,195,268.94. This represents a 1.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 34,270 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the completion of the sale, the chief financial officer owned 241,550 shares of the company's stock, valued at $48,351,063.50. This trade represents a 12.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 630,323 shares of company stock worth $118,661,105 over the last 90 days. 10.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NET has been the topic of several recent research reports. Jefferies Financial Group cut their target price on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, May 9th. Wells Fargo & Company upped their target price on shares of Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Piper Sandler upped their target price on shares of Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Guggenheim upped their target price on shares of Cloudflare from $70.00 to $111.00 and gave the stock a "sell" rating in a research note on Friday, August 1st. Finally, KeyCorp increased their price objective on shares of Cloudflare from $210.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $191.28.

Cloudflare Stock Up 1.6%

Shares of Cloudflare stock traded up $3.1630 during trading hours on Friday, hitting $195.9330. The company had a trading volume of 1,416,685 shares, compared to its average volume of 2,910,497. The company's 50-day moving average is $193.75 and its two-hundred day moving average is $156.93. Cloudflare, Inc. has a twelve month low of $74.88 and a twelve month high of $219.00. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The company has a market cap of $68.28 billion, a P/E ratio of -576.27 and a beta of 1.84.

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

About Cloudflare

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.