AG2R LA Mondiale Gestion D Actifs Acquires Shares of 12,264 Cloudflare, Inc. $NET

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 12,264 shares of Cloudflare, Inc. valued at approximately $1,382,000 during the first quarter.
• Several investment firms, including Piper Sandler and Citigroup, have increased their price targets for Cloudflare's stock, with Citigroup setting a target of $255.00 after a previous target of $240.00.
• Cloudflare reported a revenue increase of 27.8% year-over-year, with earnings per share at $0.21, surpassing analyst estimates for the quarter.

AG2R LA Mondiale Gestion D Actifs bought a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,264 shares of the company's stock, valued at approximately $1,382,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Cloudflare by 6.2% in the first quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company's stock valued at $152,000 after acquiring an additional 77 shares in the last quarter. Gill Capital Partners LLC boosted its holdings in shares of Cloudflare by 2.9% in the first quarter. Gill Capital Partners LLC now owns 2,761 shares of the company's stock valued at $311,000 after acquiring an additional 79 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Cloudflare by 11.0% in the first quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $108,000 after acquiring an additional 95 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Cloudflare by 2.5% in the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock valued at $447,000 after acquiring an additional 98 shares in the last quarter. Finally, Freestone Capital Holdings LLC boosted its holdings in shares of Cloudflare by 1.9% in the first quarter. Freestone Capital Holdings LLC now owns 5,263 shares of the company's stock valued at $593,000 after acquiring an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NET. Piper Sandler lifted their target price on shares of Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Oppenheimer reissued an "outperform" rating and set a $200.00 price objective (up previously from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Citigroup boosted their price objective on shares of Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Morgan Stanley boosted their price objective on shares of Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Robert W. Baird boosted their price objective on shares of Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Cloudflare Stock Performance

NYSE:NET opened at $221.48 on Friday. The firm has a 50 day simple moving average of $201.32 and a 200-day simple moving average of $162.08. 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 firm has a market cap of $77.18 billion, a PE ratio of -651.41 and a beta of 1.95. Cloudflare, Inc. has a 1-year low of $77.60 and a 1-year high of $230.10.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping 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 analyst estimates of $501.58 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. Cloudflare'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. On average, equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, 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 transaction of $6,859,825.90. Following the sale, the chief financial officer directly owned 241,550 shares of the company's stock, valued at approximately $48,351,063.50. This represents a 12.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 59,130 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $200.30, for a total value of $11,843,739.00. Following the completion of the sale, the chief financial officer owned 241,550 shares of the company's stock, valued at $48,382,465. This trade represents a 19.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 685,788 shares of company stock valued at $135,600,920. 10.89% of the stock is owned by 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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