APG Asset Management US Inc. Trims Stock Holdings in Cloudflare, Inc. $NET

Key Points

• APG Asset Management US Inc. has significantly reduced its stake in Cloudflare, Inc. by 52.1%, leaving it with 4,591 shares valued at approximately $531,000.
• Several other institutional investors made adjustments to their Cloudflare holdings, with Mather Group increasing its position by an impressive 1,188.2%.
• Cloudflare reported a revenue increase of 27.8% year-over-year, with earnings per share of $0.21, exceeding analysts' expectations.

APG Asset Management US Inc. lowered its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 52.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,591 shares of the company's stock after selling 4,989 shares during the quarter. APG Asset Management US Inc.'s holdings in Cloudflare were worth $531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NET. Mather Group LLC. grew its holdings in Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after acquiring an additional 202 shares during the period. NBC Securities Inc. acquired a new stake in shares of Cloudflare during the first quarter valued at $27,000. GPS Wealth Strategies Group LLC boosted its stake in shares of Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after acquiring an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after buying an additional 142 shares during the period. Finally, Global Financial Private Client LLC lifted its position in Cloudflare by 38,100.0% during the first quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock worth $43,000 after buying an additional 381 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Trading Up 1.6%

Shares of NYSE NET opened at $195.9330 on Friday. The company has a market cap of $68.28 billion, a price-to-earnings ratio of -576.27 and a beta of 1.84. Cloudflare, Inc. has a 12-month low of $74.88 and a 12-month high of $219.00. 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 stock's 50 day simple moving average is $193.75 and its 200 day simple moving average is $156.73.

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, topping the consensus estimate of $0.18 by $0.03. The business had revenue of $512.32 million for the quarter, compared to the consensus estimate 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 quarter last year, the business 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. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NET shares. Piper Sandler raised their price objective on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Guggenheim raised their price objective on Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a research note on Friday, August 1st. JMP Securities lifted their target price on Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Monday, July 28th. Stifel Nicolaus lifted their target price on Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Jefferies Financial Group decreased their target price on Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $191.28.

Insiders Place Their Bets

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction on Monday, July 28th. The stock was sold at an average price of $199.85, for a total transaction of $2,997,750.00. Following the sale, the director owned 1,043,073 shares of the company's stock, valued at $208,458,139.05. The trade was a 1.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 536 shares of Cloudflare stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $194.84, for a total value of $104,434.24. Following the sale, the chief executive officer directly owned 20,111 shares in the company, valued at $3,918,427.24. The trade was a 2.60% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 630,323 shares of company stock worth $118,661,105. 10.89% of the stock is currently 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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