Acadian Asset Management LLC Buys 10,502 Shares of Cloudflare, Inc. $NET

Key Points

• Acadian Asset Management LLC significantly increased its stake in Cloudflare, Inc. by 538.6%, acquiring 10,502 additional shares, bringing their total ownership to 12,452 shares valued at approximately $1.4 million.
• Several analysts raised their price targets for Cloudflare, with Bank of America increasing it to $240.00 and JMP Securities setting a new target of $225.00, reflecting positive market sentiment.
• Insider transactions reveal that CEO Matthew Prince sold 52,384 shares for nearly $11.9 million, contributing to a total of 675,738 shares sold by insiders over the last quarter.

Acadian Asset Management LLC grew its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 538.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,452 shares of the company's stock after acquiring an additional 10,502 shares during the quarter. Acadian Asset Management LLC's holdings in Cloudflare were worth $1,401,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its holdings in shares of Cloudflare by 20.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 15,112 shares of the company's stock worth $1,703,000 after buying an additional 2,540 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Cloudflare by 1.7% in the 1st quarter. IFM Investors Pty Ltd now owns 56,178 shares of the company's stock worth $6,331,000 after buying an additional 931 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Cloudflare in the 1st quarter worth approximately $878,000. Fortis Capital Advisors LLC acquired a new position in shares of Cloudflare in the 1st quarter worth approximately $878,000. Finally, Focus Partners Wealth raised its holdings in shares of Cloudflare by 19.7% in the 1st quarter. Focus Partners Wealth now owns 15,321 shares of the company's stock worth $1,727,000 after buying an additional 2,519 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Mizuho increased their target price on Cloudflare from $220.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. UBS Group increased their target price on Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Citigroup increased their target price on Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Finally, Royal Bank Of Canada raised their price target on Cloudflare from $210.00 to $228.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $191.28.

Insider Buying and Selling

In other news, insider Michelle Zatlyn sold 25,641 shares of Cloudflare stock in a transaction on Monday, August 25th. The stock was sold at an average price of $195.61, for a total value of $5,015,636.01. Following the completion of the sale, the insider directly owned 14,575 shares of the company's stock, valued at approximately $2,851,015.75. This trade represents a 63.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction on Monday, August 25th. The shares were sold at an average price of $195.73, for a total value of $2,935,950.00. Following the completion of the sale, the director directly owned 1,028,073 shares of the company's stock, valued at $201,224,728.29. This trade represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 665,738 shares of company stock worth $131,968,542. 10.89% of the stock is currently owned by company insiders.

Cloudflare Price Performance

NET stock traded up $2.81 during midday trading on Friday, reaching $226.38. 4,004,051 shares of the company's stock traded hands, compared to its average volume of 2,190,832. The company has a 50-day simple moving average of $204.65 and a two-hundred day simple moving average of $165.07. Cloudflare, Inc. has a 1-year low of $77.80 and a 1-year high of $230.10. The company has a market cap of $78.89 billion, a price-to-earnings ratio of -665.82 and a beta of 1.95. 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 results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. The firm had revenue of $512.32 million during 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 business's revenue was up 27.8% on a year-over-year basis. During the same period last year, the firm posted $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, analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current 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.