Cloudflare, Inc. $NET Shares Sold by Lbp Am Sa

Key Points

• Lbp Am Sa significantly reduced its stake in Cloudflare, Inc. by 55.1%, owning only 44,246 shares after selling 54,300 shares during the second quarter, valued at approximately $8.67 million.
• Notable insider sales include CEO Matthew Prince selling 52,384 shares and CFO Thomas J. Seifert selling 59,130 shares, representing decreases of 12.08% and 19.67% in their positions, respectively.
• Analysts are optimistic, with several research firms increasing their price targets for Cloudflare shares, setting a consensus price target of $191.28 and a majority of ratings reflecting a positive outlook.

Lbp Am Sa lowered its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 55.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,246 shares of the company's stock after selling 54,300 shares during the quarter. Lbp Am Sa's holdings in Cloudflare were worth $8,665,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NET. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Cloudflare by 22.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,652 shares of the company's stock valued at $3,301,000 after acquiring an additional 5,638 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Cloudflare by 47.0% during the fourth quarter. Wellington Management Group LLP now owns 5,930 shares of the company's stock valued at $639,000 after acquiring an additional 1,896 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after acquiring an additional 142 shares in the last quarter. Versant Capital Management Inc increased its holdings in Cloudflare by 19.3% in the 1st quarter. Versant Capital Management Inc now owns 655 shares of the company's stock worth $74,000 after buying an additional 106 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Cloudflare by 20,954.7% in the 1st quarter. GAMMA Investing LLC now owns 123,170 shares of the company's stock worth $13,880,000 after buying an additional 122,585 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $184.58, for a total transaction of $9,669,038.72. Following the transaction, the chief executive officer owned 381,213 shares in the company, valued at $70,364,295.54. This trade represents a 12.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 59,130 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $200.30, for a total value of $11,843,739.00. Following the transaction, the chief financial officer owned 241,550 shares in the company, valued at $48,382,465. This trade represents a 19.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 727,020 shares of company stock worth $146,028,939. Corporate insiders own 10.89% of the company's stock.

Analysts Set New Price Targets

NET has been the topic of several research reports. Citigroup increased their price target on shares of Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 18th. KeyCorp increased their price target on shares of Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Piper Sandler increased their price target on shares of Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Stifel Nicolaus increased their price target on shares of Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Scotiabank increased their price target on shares of Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a 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 given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $191.28.

Cloudflare Price Performance

Shares of NYSE NET opened at $217.44 on Thursday. The stock has a market capitalization of $75.77 billion, a price-to-earnings ratio of -639.54 and a beta of 1.99. Cloudflare, Inc. has a 12 month low of $77.80 and a 12 month high of $230.10. The firm's 50 day simple moving average is $209.24 and its 200-day simple moving average is $169.98. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 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 net margin of 6.22% and a negative return on equity of 8.42%. The business's revenue was up 27.8% on a year-over-year basis. 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. Analysts expect 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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