Cloudflare, Inc. $NET Position Cut by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Cloudflare, Inc. by 36.6% during the second quarter, now holding 5,570 shares valued at approximately $1.09 million.
• Cloudflare's CFO, Thomas J. Seifert, sold 59,130 shares at an average price of $200.30, resulting in a total transaction of about $11.84 million, which decreased his ownership by 19.67%.
• The company exceeded quarterly revenue expectations, reporting $512.32 million with a year-over-year growth of 27.8%, while earnings per share rose to $0.21 from $0.20 in the same quarter last year.

Knights of Columbus Asset Advisors LLC lessened its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 36.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,570 shares of the company's stock after selling 3,212 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Cloudflare were worth $1,091,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Highland Capital Management LLC lifted its position in shares of Cloudflare by 3.1% during the 2nd quarter. Highland Capital Management LLC now owns 17,050 shares of the company's stock valued at $3,339,000 after acquiring an additional 509 shares during the last quarter. Realta Investment Advisors lifted its position in shares of Cloudflare by 55.8% during the 2nd quarter. Realta Investment Advisors now owns 7,616 shares of the company's stock valued at $1,491,000 after acquiring an additional 2,727 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in shares of Cloudflare by 7.1% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 3,484 shares of the company's stock valued at $682,000 after acquiring an additional 232 shares during the last quarter. Sava Infond d.o.o. lifted its position in shares of Cloudflare by 10.0% during the 2nd quarter. Sava Infond d.o.o. now owns 1,100 shares of the company's stock valued at $215,000 after acquiring an additional 100 shares during the last quarter. Finally, Fortis Capital Advisors LLC lifted its position in shares of Cloudflare by 17.1% during the 2nd quarter. Fortis Capital Advisors LLC now owns 9,118 shares of the company's stock valued at $1,786,000 after acquiring an additional 1,331 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $48,382,465. This trade represents a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michelle Zatlyn sold 35,100 shares of the firm's 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 transaction, the insider owned 14,575 shares in the company, valued at approximately $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. Insiders have sold 674,636 shares of company stock valued at $135,957,067 in the last three months. 10.89% of the stock is currently owned by corporate insiders.

Cloudflare Price Performance

Shares of NYSE:NET opened at $217.67 on Wednesday. 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. The business has a fifty day simple moving average of $211.07 and a 200 day simple moving average of $173.21. The firm has a market cap of $75.86 billion, a price-to-earnings ratio of -640.22 and a beta of 1.99.

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

Analyst Ratings Changes

NET has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Cloudflare from $225.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Cloudflare in a report on Saturday, September 27th. Mizuho increased their target price on Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Guggenheim increased their target price on Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a report on Friday, August 1st. Finally, Stifel Nicolaus increased their target price on Cloudflare from $175.00 to $230.00 and gave the company a "buy" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $196.54.

Cloudflare Company 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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