Blue Trust Inc. Raises Stock Position in Cloudflare, Inc. $NET

Key Points

• Blue Trust Inc. significantly increased its stake in Cloudflare, Inc. by 388.2% in Q2, raising its holdings to 2,802 shares valued at approximately $549,000.
• Insider trading showed notable activity, with Cloudflare's insider Michelle Zatlyn selling 35,100 shares and CFO Thomas J. Seifert selling 59,130 shares, indicating a strategic reduction in personal holdings.
• Cloudflare's reported revenue for the last quarter was $512.32 million, a 27.8% increase year-over-year, surpassing analyst estimates and contributing to a price target adjustment by multiple analysts.

Blue Trust Inc. grew its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 388.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,802 shares of the company's stock after acquiring an additional 2,228 shares during the period. Blue Trust Inc.'s holdings in Cloudflare were worth $549,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 worth $25,000 after buying an additional 202 shares during the period. NBC Securities Inc. purchased a new stake in Cloudflare during the 1st quarter worth $27,000. GPS Wealth Strategies Group LLC increased its stake in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after buying an additional 175 shares during the period. Hilltop National Bank purchased a new stake in Cloudflare during the 2nd quarter worth $36,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Cloudflare during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In other news, insider Michelle Zatlyn sold 35,100 shares of Cloudflare 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 directly owned 14,575 shares of the company's stock, valued at approximately $2,794,173.25. The trade was a 70.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 59,130 shares of Cloudflare stock in a transaction dated 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. This trade represents a 19.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 673,534 shares of company stock valued at $137,405,454. Corporate insiders own 10.89% of the company's stock.

Cloudflare Price Performance

Shares of NET stock opened at $213.95 on Monday. The firm has a market cap of $74.56 billion, a P/E ratio of -629.26 and a beta of 1.99. 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, Inc. has a 1-year low of $85.60 and a 1-year high of $230.10. The firm has a fifty day moving average of $211.99 and a two-hundred day moving average of $175.57.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, topping 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 company had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same period last year, the business earned $0.20 EPS. The firm'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. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target 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. Cowen reaffirmed a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. UBS Group lifted their price target on shares of Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Guggenheim lifted their price target on shares of Cloudflare from $70.00 to $111.00 and gave the stock a "sell" rating in a research note on Friday, August 1st. Finally, Stifel Nicolaus raised their price objective on shares of Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $196.54.

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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