Ballentine Partners LLC Has $1.42 Million Stock Holdings in Cloudflare, Inc. $NET

Ballentine Partners LLC increased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 79.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,272 shares of the company's stock after purchasing an additional 3,223 shares during the quarter. Ballentine Partners LLC's holdings in Cloudflare were worth $1,424,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cloudflare by 33.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock worth $352,610,000 after acquiring an additional 786,063 shares in the last quarter. Nuveen LLC bought a new position in Cloudflare during the 1st quarter worth about $88,203,000. American Century Companies Inc. increased its holdings in Cloudflare by 34.5% during the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after purchasing an additional 779,819 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Cloudflare by 129.7% in the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock valued at $123,647,000 after purchasing an additional 619,526 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Cloudflare by 1.8% in the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock valued at $3,475,011,000 after purchasing an additional 538,850 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Wall Street Analyst Weigh In

NET has been the subject of a number of research reports. Stifel Nicolaus increased their price objective on Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, August 1st. DZ Bank reaffirmed a "sell" rating and set a $170.00 price target on shares of Cloudflare in a research report on Tuesday, July 22nd. JMP Securities lifted their price objective 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. Morgan Stanley increased their target price on shares of Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Cantor Fitzgerald raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $191.28.

Cloudflare Stock Performance

Shares of NET opened at $218.21 on Friday. The company has a market cap of $76.04 billion, a PE ratio of -641.79 and a beta of 1.95. The firm has a 50-day moving average of $207.39 and a 200-day moving average of $167.23. Cloudflare, Inc. has a one year low of $77.80 and a one year high of $230.10. 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 issued its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. During the same period last year, the business posted $0.20 EPS. Cloudflare's revenue was up 27.8% on a year-over-year basis. 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 forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of Cloudflare stock in a transaction on Monday, July 28th. The shares were 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 of the company's stock, valued at $48,382,465. The trade was a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $184.58, for a total transaction of $9,669,038.72. Following the completion of the transaction, the chief executive officer owned 381,213 shares in the company, valued at approximately $70,364,295.54. This represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 742,020 shares of company stock valued at $148,781,529. 10.89% of the stock is owned by insiders.

Cloudflare 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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