25,800 Shares in Cloudflare, Inc. $NET Purchased by Sciencast Management LP

Key Points

• Sciencast Management LP has purchased 25,800 shares of Cloudflare, Inc. for approximately $2.9 million, marking their entry into an investment in the company.
• Major institutional investors significantly increased their stakes in Cloudflare, with Mather Group LLC reportedly boosting its position by 1,188.2% during the first quarter.
• According to recent analyst reports, Cloudflare has a consensus rating of "Moderate Buy" with an average target price of $191.28, reflecting strong market interest despite varied individual analyst ratings.

Sciencast Management LP bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,800 shares of the company's stock, valued at approximately $2,907,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in Cloudflare by 1,188.2% during 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. bought a new stake in shares of Cloudflare during the 1st quarter worth $27,000. GPS Wealth Strategies Group LLC raised its stake in shares of 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 during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of 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 purchasing an additional 142 shares during the period. Finally, Global Financial Private Client LLC raised its stake in shares of 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 purchasing an additional 381 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 34,270 shares of the business'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 transaction, the chief financial officer owned 241,550 shares in the company, valued at $48,351,063.50. The trade was a 12.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $171.25, for a total value of $8,970,760.00. Following the completion of the transaction, the chief executive officer directly owned 381,213 shares in the company, valued at $65,282,726.25. This represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 687,029 shares of company stock worth $130,970,115 in the last 90 days. Company insiders own 10.89% of the company's stock.

Wall Street Analyst Weigh In

NET has been the topic of a number of research reports. Guggenheim boosted their price objective on Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a research note on Friday, August 1st. Stifel Nicolaus upped their target price on Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Citigroup upped their target price on Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Cantor Fitzgerald boosted their price objective on Cloudflare from $162.00 to $199.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, Needham & Company LLC boosted their price objective on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $191.28.

Cloudflare Price Performance

Shares of NYSE:NET opened at $214.44 on Monday. Cloudflare, Inc. has a 1-year low of $74.88 and a 1-year 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 business has a fifty day moving average price of $198.18 and a 200-day moving average price of $159.59. The company has a market capitalization of $74.73 billion, a PE ratio of -630.71 and a beta of 1.95.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $501.58 million. During the same period last year, the firm posted $0.20 earnings per share. The business'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. As a group, equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal 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.

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