4,237 Shares in Cloudflare, Inc. $NET Acquired by Dorsey & Whitney Trust CO LLC

Key Points

• Dorsey & Whitney Trust CO LLC purchased 4,237 shares of Cloudflare, Inc. for approximately $477,000, indicating growing institutional interest in the stock.
• Cloudflare reported a 27.8% increase in revenue year-over-year and exceeded earnings expectations, with an EPS of $0.21 compared to a consensus of $0.18.
• Several analysts raised their price targets for Cloudflare, with Wells Fargo increasing theirs from $225.00 to $250.00, reflecting positive sentiment in the market.

Dorsey & Whitney Trust CO LLC purchased a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,237 shares of the company's stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Cloudflare by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock worth $3,475,011,000 after buying an additional 538,850 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after buying an additional 779,819 shares during the last quarter. Northern Trust Corp grew its stake in shares of Cloudflare by 1.7% in the 1st quarter. Northern Trust Corp now owns 1,880,888 shares of the company's stock worth $211,957,000 after buying an additional 31,745 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Cloudflare by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company's stock worth $148,887,000 after buying an additional 99,448 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of Cloudflare by 129.7% in the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock worth $123,647,000 after buying an additional 619,526 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Price Performance

NYSE NET opened at $195.9330 on Friday. The business's fifty day moving average price is $193.75 and its 200-day moving average price is $156.73. The stock has a market capitalization of $68.28 billion, a price-to-earnings ratio of -576.27 and a beta of 1.84. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. Cloudflare, Inc. has a 1-year low of $74.88 and a 1-year high of $219.00.

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

Wall Street Analysts Forecast Growth

NET has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. JMP Securities upped their price objective on Cloudflare from $180.00 to $225.00 and gave the company a "market outperform" rating in a research report on Monday, July 28th. CICC Research raised Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective on the stock in a research report on Monday, May 12th. Morgan Stanley upped their price objective on Cloudflare from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada upped their price objective on Cloudflare from $210.00 to $228.00 and gave the company an "outperform" 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 given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $191.28.

Insider Transactions at Cloudflare

In other news, insider Michelle Zatlyn sold 25,642 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $173.00, for a total transaction of $4,436,066.00. Following the transaction, the insider directly owned 6,390 shares of the company's stock, valued at $1,105,470. This represents a 80.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Seifert sold 34,270 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $200.17, for a total value of $6,859,825.90. Following the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $48,351,063.50. The trade was a 12.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 630,323 shares of company stock valued at $118,661,105 over the last 90 days. 10.89% of the stock is owned by corporate insiders.

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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