Belpointe Asset Management LLC Raises Holdings in Cloudflare, Inc. $NET

Key Points

• Belpointe Asset Management LLC increased its stake in Cloudflare, Inc. by 17.1% in Q2, owning 9,118 shares worth approximately $1.79 million.
• Wall Street analysts have varying views on Cloudflare, with price targets ranging from $170 to $228, and a consensus rating of "Hold" with a price target of $191.28.
• Cloudflare reported $0.21 EPS for the last quarter, exceeding expectations and reflecting a 27.8% increase in revenue year-over-year.

Belpointe Asset Management LLC grew its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 17.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,118 shares of the company's stock after acquiring an additional 1,331 shares during the quarter. Belpointe Asset Management LLC's holdings in Cloudflare were worth $1,786,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NET. Mather Group LLC. increased its stake in Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after purchasing an additional 202 shares in 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 increased its position in shares of Cloudflare by 213.4% in the 1st 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 period. Hilltop National Bank purchased a new position in Cloudflare in the 2nd quarter worth $36,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Cloudflare during the 2nd quarter worth about $39,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NET shares. Scotiabank increased their price objective on Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. DZ Bank reiterated a "sell" rating and issued a $170.00 target price on shares of Cloudflare in a research report on Tuesday, July 22nd. UBS Group raised their price target on shares of Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Cantor Fitzgerald upped their price objective on shares of Cloudflare from $162.00 to $199.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada increased their price objective on shares of Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a research note 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 four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $191.28.

Cloudflare Price Performance

NYSE:NET opened at $221.09 on Tuesday. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The company has a 50 day moving average price of $210.71 and a 200-day moving average price of $172.90. Cloudflare, Inc. has a 1-year low of $79.16 and a 1-year high of $230.10. The firm has a market cap of $77.05 billion, a price-to-earnings ratio of -650.26 and a beta of 1.99.

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 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 for the quarter, compared to the consensus estimate of $501.58 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The firm's quarterly revenue 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. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $212.49, for a total value of $5,448,456.09. Following the sale, the insider directly owned 14,575 shares of the company's stock, valued at approximately $3,097,041.75. This trade represents a 63.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 9,000 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $213.48, for a total value of $1,921,320.00. Following the transaction, the insider directly owned 132,185 shares of the company's stock, valued at approximately $28,218,853.80. The trade was a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 674,636 shares of company stock worth $135,957,067. 10.89% of the stock is currently 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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