Ameriprise Financial Inc. Buys 112,122 Shares of Cloudflare, Inc. $NET

Key Points

• Ameriprise Financial Inc. increased its stake in Cloudflare, Inc. by 22.2%, owning 616,151 shares worth approximately $74.5 million as of the latest SEC filing.
• Several institutional investors also significantly increased their holdings in Cloudflare, with Mather Group LLC. boosting its stake by 1,188.2% during the first quarter.
• Analyst ratings for Cloudflare are mixed, with a consensus rating of "Moderate Buy", and a range of target prices varying from $140 to $240 issued by different brokerages.

Ameriprise Financial Inc. raised its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 22.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 616,151 shares of the company's stock after purchasing an additional 112,122 shares during the period. Ameriprise Financial Inc. owned approximately 0.18% of Cloudflare worth $74,517,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Cloudflare by 86.8% in the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock worth $123,000 after buying an additional 508 shares during the period. Wealthedge Investment Advisors LLC increased its holdings in shares of Cloudflare by 64.5% in the first quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company's stock worth $1,367,000 after buying an additional 4,755 shares during the period. American Century Companies Inc. increased its holdings in shares of Cloudflare by 34.5% in the first 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 during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Cloudflare by 9.6% in the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock worth $297,000 after buying an additional 230 shares during the period. Finally, Amalgamated Bank increased its holdings in shares of Cloudflare by 7.0% in the first quarter. Amalgamated Bank now owns 21,402 shares of the company's stock worth $2,412,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Stock Down 2.1%

Cloudflare stock traded down $4.46 during trading hours on Monday, hitting $208.96. 2,095,088 shares of the stock traded hands, compared to its average volume of 2,356,969. The firm's 50-day moving average price is $196.16 and its two-hundred day moving average price is $158.05. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The company has a market cap of $72.82 billion, a PE ratio of -614.60 and a beta of 1.95. Cloudflare, Inc. has a one year low of $74.88 and a one year high of $219.00.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $512.32 million for 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 in the previous 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, research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 536 shares of Cloudflare stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $194.84, for a total transaction of $104,434.24. Following the sale, the chief executive officer directly owned 20,111 shares of the company's stock, valued at approximately $3,918,427.24. The trade was a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction that occurred 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 sale, the director directly owned 1,028,073 shares in the company, valued at approximately $201,224,728.29. The trade was a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 728,705 shares of company stock worth $137,798,322. Insiders own 10.89% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on NET. Oppenheimer reiterated an "outperform" rating and issued a $200.00 price objective (up previously from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Capital One Financial upgraded Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. KeyCorp boosted their price target on Cloudflare from $210.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Robert W. Baird boosted their price target on Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Morgan Stanley boosted their price target on Cloudflare from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.