Cloudflare, Inc. $NET Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc significantly increased its stake in Cloudflare, Inc., raising its holdings by 149% during the first quarter, now owning 159,726 shares valued at approximately $18 million.
• Cloudflare's CFO, Thomas J. Seifert, sold 59,130 shares valued at over $11.8 million, while CEO Matthew Prince also sold a substantial number of shares, indicating decreased insider ownership.
• Analysts have mixed views on Cloudflare, with JMP Securities raising their price target to $225, while Mizuho increased it to $240, suggesting a general optimism despite differing opinions within the analyst community.

Aberdeen Group plc lifted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 149.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,726 shares of the company's stock after buying an additional 95,574 shares during the quarter. Aberdeen Group plc's holdings in Cloudflare were worth $18,000,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mather Group LLC. lifted its holdings 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 buying an additional 202 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Cloudflare in the first quarter worth $27,000. GPS Wealth Strategies Group LLC increased its position in Cloudflare by 213.4% in the first 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 last quarter. MassMutual Private Wealth & Trust FSB increased its position in Cloudflare by 115.4% in the first 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 last quarter. Finally, Global Financial Private Client LLC increased its position in Cloudflare by 38,100.0% in the first 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 last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 536 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $194.84, for a total transaction of $104,434.24. Following the completion of the sale, the chief executive officer directly owned 20,111 shares of the company's stock, valued at approximately $3,918,427.24. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $198.22, for a total transaction of $594,660.00. Following the sale, the insider directly owned 157,377 shares of the company's stock, valued at approximately $31,195,268.94. The trade was a 1.87% 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 quarter. 10.89% of the stock is owned by company insiders.

Cloudflare Stock Up 1.6%

NYSE:NET traded up $3.1630 during mid-day trading on Friday, reaching $195.9330. The company's stock had a trading volume of 1,416,685 shares, compared to its average volume of 2,974,580. Cloudflare, Inc. has a 1 year low of $74.88 and a 1 year high of $219.00. The stock has a fifty day moving average of $193.75 and a 200-day moving average of $156.73. The firm has a market capitalization of $68.28 billion, a PE ratio of -576.27 and a beta of 1.84. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The firm'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. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NET. Needham & Company LLC boosted their price target on shares of Cloudflare from $200.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. JMP Securities upped their price target on shares of Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Monday, July 28th. Royal Bank Of Canada upped their price target on shares of Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. KeyCorp upped their price target on shares of Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Piper Sandler upped their price target on shares of Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. One equities research 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.28.

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.