Cloudflare, Inc. $NET Shares Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in Cloudflare, Inc. ($NET) by 20.1% during Q2, owning 28,431 shares worth approximately $5.57 million.
• Cloudflare's stock has received mixed ratings from analysts, with price targets ranging from $145 to $255, and a consensus rating of "Hold" with an average price target of $191.28.
• Insider selling activity has been notable, with CFO Thomas J. Seifert selling over 59,000 shares recently, representing a 19.67% decrease in his ownership stake.

Janney Montgomery Scott LLC boosted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 20.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,431 shares of the company's stock after purchasing an additional 4,751 shares during the period. Janney Montgomery Scott LLC's holdings in Cloudflare were worth $5,568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mather Group LLC. lifted its holdings in Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after acquiring an additional 202 shares during the last quarter. NBC Securities Inc. purchased a new stake in Cloudflare in the first quarter valued at $27,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. CVA Family Office LLC grew its holdings in shares of Cloudflare by 37.1% during the 1st quarter. CVA Family Office LLC now owns 392 shares of the company's stock worth $44,000 after purchasing an additional 106 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of Cloudflare by 88.5% during the 1st quarter. Fifth Third Bancorp now owns 441 shares of the company's stock worth $50,000 after purchasing an additional 207 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on NET shares. UBS Group upped their target price on shares of Cloudflare from $145.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cloudflare in a research note on Saturday, September 27th. Stifel Nicolaus increased their price objective on shares of Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Needham & Company LLC boosted their target price on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Citigroup upped their price target on Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Cloudflare currently has a consensus rating of "Hold" and an average price target of $191.28.

Cloudflare Trading Up 2.0%

NYSE:NET opened at $221.09 on Tuesday. Cloudflare, Inc. has a 12-month low of $79.16 and a 12-month high of $230.10. The firm has a market cap of $77.05 billion, a PE ratio of -650.26 and a beta of 1.99. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The stock has a fifty day moving average price of $210.71 and a 200 day moving average price of $172.90.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. The company had revenue of $512.32 million for 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%.Cloudflare's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the company earned $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. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of the business's stock in a transaction that occurred on 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 owned 241,550 shares in the company, valued at $48,382,465. The trade was a 19.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michelle Zatlyn sold 35,100 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the completion of the sale, the insider directly owned 14,575 shares in the company, valued at approximately $2,794,173.25. This 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 worth $135,957,067 over the last three months. Insiders own 10.89% of the company's stock.

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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