AQR Capital Management LLC Acquires 135,637 Shares of Cloudflare, Inc. $NET

AQR Capital Management LLC increased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 65.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,817 shares of the company's stock after buying an additional 135,637 shares during the quarter. AQR Capital Management LLC owned 0.10% of Cloudflare worth $37,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mather Group LLC. lifted its position in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after buying an additional 202 shares during the period. NBC Securities Inc. bought a new position in shares of Cloudflare during the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC lifted its position in shares of Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after buying an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new position in Cloudflare in the 4th quarter valued at $43,000. Institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on NET shares. Bank of America increased their target price on Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Needham & Company LLC increased their target price on Cloudflare from $200.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Cantor Fitzgerald increased their target price on Cloudflare from $162.00 to $199.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Citigroup increased their target price on Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Finally, Cowen restated a "buy" rating on shares of Cloudflare in a report on Monday, June 16th. One 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of "Moderate Buy" and an average price target of $191.28.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 59,130 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the completion of the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at approximately $48,382,465. The trade was a 19.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 34,270 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $200.17, for a total value of $6,859,825.90. Following the completion of the sale, the chief financial officer directly owned 241,550 shares of the company's stock, valued at approximately $48,351,063.50. This trade represents a 12.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 687,029 shares of company stock worth $130,970,115. Corporate insiders own 10.89% of the company's stock.

Cloudflare Trading Up 0.3%

Shares of NYSE NET traded up $0.63 during midday trading on Tuesday, hitting $218.55. The stock had a trading volume of 1,670,393 shares, compared to its average volume of 2,033,303. The company's 50-day simple moving average is $199.30 and its 200 day simple moving average is $160.46. The firm has a market cap of $76.16 billion, a P/E ratio of -642.79 and a beta of 1.95. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $220.99. 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 (NYSE:NET - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $512.32 million during 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 for the quarter was up 27.8% on a year-over-year basis. During the same period last year, the firm earned $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. Research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.