Cloudflare, Inc. $NET Position Increased by Norden Group LLC

Key Points

• Norden Group LLC has increased its stake in Cloudflare, Inc. by 8.9% during the 2nd quarter, owning 24,734 shares valued at approximately $4.84 million.
• Cloudflare's recent earnings report showed an EPS of $0.21, exceeding analysts' expectations of $0.18, with revenue reaching $512.32 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Cloudflare, with price targets raised by several firms, reflecting a positive outlook on its performance.

Norden Group LLC increased its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,734 shares of the company's stock after purchasing an additional 2,017 shares during the period. Norden Group LLC's holdings in Cloudflare were worth $4,844,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Cloudflare by 33.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock valued at $352,610,000 after acquiring an additional 786,063 shares in the last quarter. Nuveen LLC bought a new stake in Cloudflare during the 1st quarter valued at $88,203,000. American Century Companies Inc. raised its stake in Cloudflare by 34.5% during the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock valued at $342,287,000 after acquiring an additional 779,819 shares in the last quarter. Raymond James Financial Inc. raised its stake in Cloudflare by 129.7% during the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock valued at $123,647,000 after acquiring an additional 619,526 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Cloudflare by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock valued at $3,475,011,000 after acquiring an additional 538,850 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NET shares. Wells Fargo & Company lifted their target price on Cloudflare from $225.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Robert W. Baird lifted their target price on Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Piper Sandler lifted their target price on Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Scotiabank lifted their price target on Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Finally, Mizuho lifted their price target on Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. One investment 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.28.

Cloudflare Stock Performance

Shares of NYSE NET opened at $223.49 on Wednesday. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $77.88 billion, a price-to-earnings ratio of -657.33 and a beta of 1.95. The stock's fifty day simple moving average is $206.29 and its 200 day simple moving average is $166.18. Cloudflare, Inc. has a 52-week low of $77.80 and a 52-week high of $230.10.

Cloudflare (NYSE:NET - Get Free Report) last issued its 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 analysts' expectations of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The company's quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. 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 forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 34,270 shares of Cloudflare stock in a transaction on 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 transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $48,351,063.50. The trade was a 12.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $184.58, for a total value of $9,669,038.72. Following the completion of the transaction, the chief executive officer owned 381,213 shares in the company, valued at $70,364,295.54. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 690,738 shares of company stock valued at $137,603,592. Insiders own 10.89% of the company's stock.

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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