Alta Advisers Ltd Takes $340,000 Position in Cloudflare, Inc. $NET

Key Points

• Alta Advisers Ltd has acquired a new position in Cloudflare, Inc., purchasing 1,735 shares valued at approximately $340,000 in the second quarter.
• Institutional investors dominate Cloudflare's stock ownership, holding 82.68% of shares with several firms, including Vanguard and UBS, significantly increasing their stakes.
• Cloudflare's latest earnings report showed revenue growth of 27.8% year-over-year, with a posted EPS of $0.21 surpassing analysts' expectations.

Alta Advisers Ltd bought a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,735 shares of the company's stock, valued at approximately $340,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cloudflare by 33.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock worth $352,610,000 after buying an additional 786,063 shares in the last quarter. American Century Companies Inc. grew its holdings in 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 in the last quarter. Northern Trust Corp grew its holdings in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in 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 in the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NET has been the subject of a number of recent analyst reports. Robert W. Baird increased their price objective on Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cloudflare in a report on Wednesday. JMP Securities increased their price objective on Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Monday, July 28th. Citigroup increased their price objective on Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Finally, Scotiabank upped their target price on Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a research 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 data from MarketBeat, Cloudflare presently has a consensus rating of "Moderate Buy" and a consensus target price of $196.54.

Insider Activity at Cloudflare

In other news, 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 completion of the sale, the chief financial officer owned 189,517 shares in the company, valued at approximately $43,141,649.88. This represents a 5.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $215.38, for a total value of $5,522,558.58. Following the sale, the insider owned 14,575 shares of the company's stock, valued at $3,139,163.50. This trade represents a 63.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 673,534 shares of company stock worth $137,405,454. 10.89% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

NET opened at $213.95 on Friday. The company has a market capitalization of $74.56 billion, a price-to-earnings ratio of -629.26 and a beta of 1.99. 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 $85.60 and a 1-year high of $230.10. The business has a 50 day moving average price of $211.99 and a two-hundred day moving average price of $175.17.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The company had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The company's quarterly revenue 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. Research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Cloudflare 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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