Cloudflare, Inc. $NET Shares Bought by Independent Solutions Wealth Management LLC

Key Points

• Independent Solutions Wealth Management LLC increased its stake in Cloudflare, Inc. by 293.3% during the second quarter, now holding 15,059 shares valued at approximately $2.95 million.
• Insider activity shows significant selling, with insider Douglas James Kramer selling 9,000 shares for about $1.92 million, resulting in a 6.37% reduction of their holdings.
• Wall Street analysts are optimistic, as several firms raised Cloudflare's price targets, with Morgan Stanley setting a new target at $235.00 and maintaining an "overweight" rating.

Independent Solutions Wealth Management LLC increased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 293.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,059 shares of the company's stock after acquiring an additional 11,230 shares during the period. Independent Solutions Wealth Management LLC's holdings in Cloudflare were worth $2,949,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NET. NBC Securities Inc. acquired a new stake in shares of Cloudflare in the first quarter valued at about $27,000. Merit Financial Group LLC acquired a new stake in shares of Cloudflare in the 1st quarter worth approximately $277,000. SeaCrest Wealth Management LLC purchased a new position in Cloudflare in the 1st quarter valued at approximately $235,000. Wedmont Private Capital raised its holdings in 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 purchasing an additional 1,269 shares during the last quarter. Finally, Miracle Mile Advisors LLC boosted its position in 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 purchasing an additional 1,068 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 9,000 shares of Cloudflare stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $213.48, for a total transaction of $1,921,320.00. Following the transaction, the insider owned 132,185 shares in the company, valued at approximately $28,218,853.80. The trade was a 6.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carl Ledbetter sold 15,000 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $223.91, for a total value of $3,358,650.00. Following the completion of the sale, the director directly owned 1,013,073 shares of the company's stock, valued at $226,837,175.43. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 674,636 shares of company stock valued at $135,957,067. 10.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NET. Morgan Stanley raised their price target on Cloudflare from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird lifted their price objective on Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Royal Bank Of Canada increased their target price on Cloudflare from $210.00 to $228.00 and gave the company an "outperform" rating in a report on Friday, August 1st. DZ Bank reissued a "sell" rating and set a $170.00 price target on shares of Cloudflare in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC upped their price objective on Cloudflare from $200.00 to $240.00 and gave the company a "buy" 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 four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $191.28.

Cloudflare Stock Performance

Shares of NET stock opened at $221.09 on Tuesday. The firm has a market capitalization of $77.05 billion, a price-to-earnings ratio of -650.26 and a beta of 1.99. The company has a 50 day moving average price of $210.71 and a 200 day moving average price of $172.90. Cloudflare, Inc. has a one year low of $79.16 and a one year high of $230.10. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14.

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

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.

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