Atria Wealth Solutions Inc. Sells 3,360 Shares of Cloudflare, Inc. $NET

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Cloudflare, Inc. by 47.7%, selling 3,360 shares and bringing its total to 3,682 shares, valued at $719,000.
• CEO Matthew Prince sold 52,384 shares for over $10.4 million, significantly reducing his ownership by 72.26%.
• Cloudflare's stock has seen a 52-week high of $230.10 and a low of $85.60, currently trading at approximately $209.94.

Atria Wealth Solutions Inc. decreased its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 47.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,682 shares of the company's stock after selling 3,360 shares during the period. Atria Wealth Solutions Inc.'s holdings in Cloudflare were worth $719,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hilltop National Bank bought a new stake in Cloudflare during the 2nd quarter worth approximately $36,000. Ameritas Advisory Services LLC bought a new stake in shares of Cloudflare during the second quarter valued at approximately $39,000. Mather Group LLC. raised its position 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. LRI Investments LLC raised its position in shares of Cloudflare by 680.5% during the second quarter. LRI Investments LLC now owns 320 shares of the company's stock valued at $63,000 after buying an additional 279 shares during the last quarter. Finally, Park Place Capital Corp raised its position in shares of Cloudflare by 1,492.6% during the second quarter. Park Place Capital Corp now owns 430 shares of the company's stock valued at $80,000 after buying an additional 403 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Trading Down 0.7%

NET stock opened at $209.94 on Friday. The firm has a fifty day moving average price of $212.65 and a 200 day moving average price of $178.63. Cloudflare, Inc. has a fifty-two week low of $85.60 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. The firm has a market cap of $73.16 billion, a PE ratio of -617.47 and a beta of 1.99.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The firm had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same period last year, the firm posted $0.20 earnings per share. Cloudflare's revenue for the quarter 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. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on NET. Scotiabank lifted their price objective on shares of Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Cantor Fitzgerald lifted their price objective on shares of Cloudflare from $162.00 to $199.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Wells Fargo & Company lifted their price objective on shares of Cloudflare from $225.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Stifel Nicolaus lifted their price objective on shares of Cloudflare from $175.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cloudflare in a research report on Wednesday, October 8th. One 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $196.54.

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Monday, August 18th. The shares were sold at an average price of $200.43, for a total transaction of $10,499,325.12. Following the completion of the transaction, the chief executive officer directly owned 20,111 shares of the company's stock, valued at $4,030,847.73. The trade was a 72.26% decrease in their ownership of the stock. 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 Cloudflare stock in a transaction on Monday, July 21st. The stock was sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the transaction, the chief financial officer directly owned 241,550 shares of the company's stock, valued at $48,351,063.50. The trade was a 12.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 729,540 shares of company stock valued at $150,883,922 over the last ninety days. 10.89% of the stock is owned by corporate insiders.

About Cloudflare

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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