2,308 Shares in Cloudflare, Inc. $NET Purchased by LeConte Wealth Management LLC

Key Points

• LeConte Wealth Management LLC has acquired 2,308 shares of Cloudflare, Inc., valued at approximately $452,000, as part of their 2nd quarter investments.
• Insider transactions included CFO Thomas J. Seifert selling 10,000 shares for over $2.2 million, and Director Carl Ledbetter selling 15,000 shares for about $3.4 million.
• Cloudflare recently reported a 27.8% increase in quarterly revenue to $512.32 million, beating expectations, with an EPS of $0.21 for the quarter.

LeConte Wealth Management LLC acquired a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,308 shares of the company's stock, valued at approximately $452,000.

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

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 10,000 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $227.64, for a total transaction of $2,276,400.00. Following the transaction, the chief financial officer owned 189,517 shares in the company, valued at approximately $43,141,649.88. This trade represents a 5.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $223.91, for a total transaction of $3,358,650.00. Following the completion of the sale, the director directly owned 1,013,073 shares of the company's stock, valued at approximately $226,837,175.43. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 690,738 shares of company stock valued at $137,603,592. 10.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Cowen reaffirmed a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. Cantor Fitzgerald increased their price objective on Cloudflare from $162.00 to $199.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Mizuho raised their price objective on Cloudflare from $220.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. UBS Group lifted their target price on Cloudflare from $145.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Bank of America increased their price target on shares of Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $191.28.

Cloudflare Stock Performance

Shares of NET stock opened at $217.44 on Thursday. Cloudflare, Inc. has a fifty-two week low of $77.80 and a fifty-two week high of $230.10. The stock's 50-day moving average is $206.85 and its two-hundred day moving average is $166.53. 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 firm has a market cap of $75.77 billion, a P/E ratio of -639.52 and a beta of 1.95.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate 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 business had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm's quarterly revenue 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. Analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal 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.

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