Castle Rock Wealth Management LLC Acquires 1,229 Shares of Cloudflare, Inc. $NET

Key Points

• Castle Rock Wealth Management LLC increased its stake in Cloudflare, Inc. by 10.5%, acquiring an additional 1,229 shares, reaching a total value of $2,568,000 by the end of the second quarter.
• Cloudflare's CFO, Thomas J. Seifert, sold a total of 93,400 shares recently, reflecting a significant decrease in his holdings valued at approximately $48.3 million.
• The company's stock currently has a market cap of $75.86 billion and has shown a year-over-year revenue increase of 27.8%, with current guidance for FY 2025 set between 0.850-0.860 EPS.

Castle Rock Wealth Management LLC grew its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 10.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,943 shares of the company's stock after acquiring an additional 1,229 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Cloudflare were worth $2,568,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NET. NBC Securities Inc. bought a new stake in shares of Cloudflare in the first quarter worth about $27,000. Merit Financial Group LLC bought a new position in shares of Cloudflare during the first quarter worth about $277,000. Wedmont Private Capital grew its holdings in shares of Cloudflare by 32.7% during the first quarter. Wedmont Private Capital now owns 5,151 shares of the company's stock worth $547,000 after buying an additional 1,269 shares in the last quarter. Miracle Mile Advisors LLC grew its holdings in shares of Cloudflare by 26.8% during the first quarter. Miracle Mile Advisors LLC now owns 5,057 shares of the company's stock worth $570,000 after buying an additional 1,068 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Cloudflare by 5.7% during the first quarter. Park Avenue Securities LLC now owns 10,652 shares of the company's stock worth $1,200,000 after buying an additional 578 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $200.30, for a total value of $11,843,739.00. Following the completion of the transaction, the chief financial officer owned 241,550 shares of the company's stock, valued at $48,382,465. This represents a 19.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas J. Seifert sold 34,270 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $200.17, for a total value of $6,859,825.90. Following the completion of the transaction, the chief financial officer directly owned 241,550 shares of the company's stock, valued at approximately $48,351,063.50. The trade was a 12.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 674,636 shares of company stock worth $135,957,067 in the last 90 days. 10.89% of the stock is currently owned by company insiders.

Cloudflare Stock Performance

NYSE:NET opened at $217.67 on Wednesday. The stock has a market cap of $75.86 billion, a P/E ratio of -640.22 and a beta of 1.99. The stock has a 50 day simple moving average of $211.07 and a 200 day simple moving average of $173.21. 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 1-year low of $79.16 and a 1-year high of $230.10.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Scotiabank raised their price target on Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Cloudflare in a research note on Saturday, September 27th. Mizuho raised their price target on Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Bank of America raised their price target on Cloudflare from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada lifted their target price on Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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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