Ascent Group LLC Makes New Investment in Cloudflare, Inc. $NET

Key Points

• Ascent Group LLC has acquired a new position in Cloudflare, purchasing 2,264 shares valued at approximately $443,000 during the 2nd quarter.
• Insider Michelle Zatlyn sold 35,100 shares of Cloudflare, representing a 70.66% decrease in her ownership, while CFO Thomas J. Seifert sold 59,130 shares, decreasing his position by 19.67%.
• Cloudflare's recent earnings report showed an earnings per share (EPS) of $0.21, surpassing analyst expectations, with a revenue increase of 27.8% compared to the same quarter last year.

Ascent Group LLC purchased a new position in Cloudflare, Inc. (NYSE:NET - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,264 shares of the company's stock, valued at approximately $443,000.

Several other institutional investors and hedge funds have also bought and sold shares of NET. Mather Group LLC. grew its holdings in shares of Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after buying an additional 202 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Cloudflare during the first quarter valued at $27,000. GPS Wealth Strategies Group LLC grew its holdings 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 buying an additional 175 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of Cloudflare during the second quarter valued at $36,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Cloudflare during the second quarter valued at $39,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cloudflare news, insider Michelle Zatlyn sold 35,100 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $191.71, for a total value of $6,729,021.00. Following the completion of the transaction, the insider owned 14,575 shares in the company, valued at approximately $2,794,173.25. This represents a 70.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 59,130 shares of the company'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 transaction, the chief financial officer owned 241,550 shares of the company's stock, valued at approximately $48,382,465. This trade represents a 19.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 674,636 shares of company stock worth $135,957,067. 10.89% of the stock is currently owned by insiders.

Cloudflare Trading Down 1.5%

Shares of Cloudflare stock opened at $217.67 on Wednesday. The firm has a 50-day simple moving average of $211.07 and a two-hundred day simple moving average of $173.21. The company has a market cap of $75.86 billion, a P/E ratio of -640.22 and a beta of 1.99. Cloudflare, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $230.10. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.03. The business had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company's revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Cloudflare in a report on Saturday, September 27th. JMP Securities upped their price target on shares of Cloudflare from $180.00 to $225.00 and gave the company a "market outperform" rating in a report on Monday, July 28th. Robert W. Baird upped their price target on shares of Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Guggenheim upped their price target on shares of Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a report on Friday, August 1st. Finally, Mizuho upped their price target on shares of Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $196.54.

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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