HighTower Advisors LLC Sells 1,173,674 Shares of Cloudflare, Inc. $NET

HighTower Advisors LLC cut its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 93.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,561 shares of the company's stock after selling 1,173,674 shares during the period. HighTower Advisors LLC's holdings in Cloudflare were worth $9,078,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mather Group LLC. lifted its holdings in shares of Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after buying an additional 202 shares during the last quarter. NBC Securities Inc. bought a new position in Cloudflare during the first quarter worth $27,000. GPS Wealth Strategies Group LLC raised its stake in Cloudflare by 213.4% during 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. MassMutual Private Wealth & Trust FSB raised its stake in Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Cloudflare in the 4th quarter valued at $43,000. Institutional investors own 82.68% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NET. Royal Bank Of Canada boosted their price objective on shares of Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Cantor Fitzgerald boosted their price target on Cloudflare from $162.00 to $199.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Piper Sandler raised their price objective on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Finally, Bank of America upped their target price on Cloudflare from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Cloudflare has an average rating of "Moderate Buy" and a consensus target price of $191.28.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $198.22, for a total transaction of $594,660.00. Following the sale, the insider directly owned 157,377 shares of the company's stock, valued at approximately $31,195,268.94. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 59,130 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 241,550 shares of the company's stock, valued at approximately $48,382,465. The trade was a 19.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 588,768 shares of company stock worth $110,739,060 in the last quarter. 10.89% of the stock is owned by corporate insiders.

Cloudflare Price Performance

Shares of NET stock traded up $0.0260 during trading hours on Thursday, hitting $193.2260. The company had a trading volume of 1,061,024 shares, compared to its average volume of 3,619,354. Cloudflare, Inc. has a 12 month low of $74.88 and a 12 month high of $219.00. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The firm's fifty day moving average is $192.82 and its 200 day moving average is $155.96. The firm has a market capitalization of $67.34 billion, a price-to-earnings ratio of -568.51 and a beta of 1.84.

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, beating 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 for the quarter, compared to analyst estimates of $501.58 million. During the same quarter in the previous year, the firm earned $0.20 EPS. Cloudflare's quarterly 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. On average, sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

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.