Belpointe Asset Management LLC Takes Position in Cloudflare, Inc. $NET

Key Points

• Belpointe Asset Management LLC acquired a new stake in Cloudflare, purchasing 7,787 shares valued at approximately $878,000 in the first quarter.
• Analysts have raised their price targets for Cloudflare, with estimates ranging from $175 to $240, and the stock currently holds a consensus rating of "Moderate Buy."
• Recent insider trading shows significant stock sales, including the CFO and another insider selling over 69,000 shares combined, reflecting a decrease in ownership for both.

Belpointe Asset Management LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,787 shares of the company's stock, valued at approximately $878,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NET. Mather Group LLC. raised its stake 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 acquiring an additional 202 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Cloudflare during the first quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC raised its stake 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 acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after acquiring an additional 142 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new position in Cloudflare in the fourth quarter worth approximately $43,000. Institutional investors own 82.68% of the company's stock.

Wall Street Analyst Weigh In

NET has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Piper Sandler boosted their price objective on shares of Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Needham & Company LLC boosted their price objective on shares of Cloudflare from $200.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Stifel Nicolaus boosted their price objective on shares of Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Bank of America boosted their price objective on shares of Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $191.28.

Cloudflare Stock Performance

Shares of NET stock opened at $221.48 on Friday. The business's fifty day simple moving average is $201.32 and its 200-day simple moving average is $161.96. The company has a market cap of $77.18 billion, a PE ratio of -651.41 and a beta of 1.95. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 12-month low of $77.60 and a 12-month high of $230.10.

Cloudflare (NYSE:NET - Get Free Report) last issued 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. The business had revenue of $512.32 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 27.8% on a year-over-year basis. During the same period 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. Analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 34,270 shares of the company's 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 approximately $48,351,063.50. This represents a 12.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 35,100 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the sale, the insider directly owned 14,575 shares in the company, valued at $2,794,173.25. This trade represents a 70.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 685,788 shares of company stock valued at $135,600,920. Company insiders own 10.89% of the company's stock.

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.

Want to see what other hedge funds are holding NET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cloudflare, Inc. (NYSE:NET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.