Cloudflare, Inc. $NET Shares Sold by Stock Yards Bank & Trust Co.

Key Points

• Stock Yards Bank & Trust Co. has reduced its stake in Cloudflare, Inc. by 45.8% during the 2nd quarter, now holding 2,133 shares valued at approximately $418,000.
• Analysts have set new price targets for Cloudflare, with Needham & Company raising it to $240 and Stifel Nicolaus to $230, while Weiss Ratings reaffirmed a sell rating.
• Cloudflare's CEO and CFO both recently sold significant shares, with CEO Matthew Prince selling over 52,000 shares valued at approximately $9.67 million, signaling a notable decrease in their ownership.

Stock Yards Bank & Trust Co. lessened its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 45.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,133 shares of the company's stock after selling 1,801 shares during the period. Stock Yards Bank & Trust Co.'s holdings in Cloudflare were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Hilltop National Bank purchased a new stake in shares of Cloudflare in the second quarter valued at about $36,000. Ameritas Advisory Services LLC purchased a new stake in shares of Cloudflare in the second quarter valued at about $39,000. Mather Group LLC. raised its holdings in shares of 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 buying an additional 202 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Cloudflare in the first quarter valued at about $27,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in shares of Cloudflare by 213.4% in the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cloudflare in a report on Saturday, September 27th. Needham & Company LLC upped their target price on shares of Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a report on Friday, August 1st. Stifel Nicolaus upped their target price on shares of Cloudflare from $175.00 to $230.00 and gave the company a "buy" 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 report on Tuesday, July 22nd. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $191.28.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, July 10th. The shares were 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 directly owned 381,213 shares of the company's stock, valued at approximately $70,364,295.54. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 59,130 shares of the stock in a transaction dated 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 directly owned 241,550 shares of the company's stock, valued at approximately $48,382,465. This trade represents a 19.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 727,020 shares of company stock valued at $146,028,939. 10.89% of the stock is currently owned by corporate insiders.

Cloudflare Trading Down 3.4%

NYSE NET opened at $216.95 on Friday. Cloudflare, Inc. has a 52-week low of $79.16 and a 52-week high of $230.10. 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 $75.60 billion, a P/E ratio of -638.08 and a beta of 1.99. The firm has a 50-day moving average price of $210.27 and a 200 day moving average price of $171.81.

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, beating analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. During the same period last year, the company posted $0.20 earnings per share. The firm's quarterly revenue was up 27.8% compared to the same quarter last year. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current 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.

Want to see what other hedge funds are holding NET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cloudflare, Inc. (NYSE:NET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.