AFG Fiduciary Services Limited Partnership Sells 3,013 Shares of Cloudflare, Inc. $NET

Key Points

• AFG Fiduciary Services Limited Partnership sold 3,013 shares of Cloudflare, Inc., reducing its stake by 30.3%, and now holds 6,941 shares valued at approximately $1.28 million.
• Cloudflare's stock has received mixed ratings, with an average target price of $191.28 and varying opinions from analysts regarding its outlook.
• Insider trading activity shows significant sales, including Cloudflare's CFO selling 41,555 shares for over $7.9 million, indicating potential shifts in confidence among company executives.

AFG Fiduciary Services Limited Partnership reduced its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 30.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,941 shares of the company's stock after selling 3,013 shares during the quarter. Cloudflare accounts for 0.3% of AFG Fiduciary Services Limited Partnership's portfolio, making the stock its 29th largest position. AFG Fiduciary Services Limited Partnership's holdings in Cloudflare were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. increased its stake in Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after buying an additional 202 shares during the last quarter. NBC Securities Inc. acquired a new stake in Cloudflare in the 1st quarter valued at $27,000. GPS Wealth Strategies Group LLC increased its stake in Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after buying an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after buying an additional 142 shares during the last quarter. Finally, Global Financial Private Client LLC increased its stake in Cloudflare by 38,100.0% in the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock valued at $43,000 after buying an additional 381 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NET shares. Piper Sandler lifted their price target on shares of Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. DZ Bank restated a "sell" rating and set a $170.00 price objective on shares of Cloudflare in a research note on Tuesday, July 22nd. UBS Group boosted their price objective on shares of Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Cowen restated a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Finally, Royal Bank Of Canada boosted their price objective on shares of Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. One equities research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $191.28.

Insider Activity at Cloudflare

In other news, Director Carl Ledbetter sold 15,000 shares of the 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 in the company, valued at $226,837,175.43. This represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $227.64, for a total transaction of $2,276,400.00. Following the sale, the chief financial officer owned 189,517 shares of the company's stock, valued at approximately $43,141,649.88. This trade represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 690,738 shares of company stock valued at $137,603,592 over the last 90 days. 10.89% of the stock is owned by company insiders.

Cloudflare Price Performance

Shares of Cloudflare stock traded down $5.46 on Tuesday, reaching $222.82. 1,221,305 shares of the stock were exchanged, compared to its average volume of 3,454,335. The firm's 50 day moving average is $205.56 and its 200-day moving average is $165.78. Cloudflare, Inc. has a one year low of $77.80 and a one year high of $230.10. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The firm has a market cap of $77.65 billion, a PE ratio of -657.65 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. During the same period in the prior year, the company posted $0.20 EPS. The company's revenue 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, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal 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.