Cloudflare, Inc. $NET Stock Holdings Decreased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Cloudflare, Inc. by 9.5%, owning approximately $57.76 million worth of shares after selling 32,665 shares in the second quarter.
• Cloudflare reported earnings of $0.21 EPS for the last quarter, exceeding expectations, with revenue increasing by 27.8% year-over-year, totaling $512.32 million.
• Insider trading notable activity includes CFO Thomas J. Seifert selling 10,000 shares for nearly $2.28 million, resulting in a 5.01% decrease in his ownership.

Allspring Global Investments Holdings LLC reduced its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 312,292 shares of the company's stock after selling 32,665 shares during the period. Allspring Global Investments Holdings LLC owned about 0.09% of Cloudflare worth $57,758,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NET. Mather Group LLC. increased its position in shares of Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after acquiring an additional 202 shares in the last quarter. Hilltop National Bank purchased a new position in Cloudflare during the second quarter valued at approximately $36,000. Ameritas Advisory Services LLC purchased a new position in Cloudflare during the second quarter valued at approximately $39,000. Fifth Third Bancorp grew its position in Cloudflare by 88.5% during the first quarter. Fifth Third Bancorp now owns 441 shares of the company's stock valued at $50,000 after purchasing an additional 207 shares in the last quarter. Finally, ORG Partners LLC grew its position in Cloudflare by 264.8% during the first quarter. ORG Partners LLC now owns 445 shares of the company's stock valued at $51,000 after purchasing an additional 323 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Performance

NET stock opened at $217.74 on Wednesday. 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 company has a market capitalization of $75.88 billion, a price-to-earnings ratio of -640.41 and a beta of 1.99. Cloudflare, Inc. has a 12 month low of $85.60 and a 12 month high of $230.10. The firm has a 50 day moving average of $212.47 and a two-hundred day moving average of $176.61.

Cloudflare (NYSE:NET - Get Free Report) last posted its 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 the consensus estimate of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the previous 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. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 10,000 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $227.64, for a total value of $2,276,400.00. Following the completion of the sale, the chief financial officer directly owned 189,517 shares in the company, valued at approximately $43,141,649.88. The trade was a 5.01% 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 hyperlink. Also, insider Douglas James Kramer sold 9,000 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $213.48, for a total transaction of $1,921,320.00. Following the completion of the sale, the insider owned 132,185 shares of the company's stock, valued at $28,218,853.80. The trade was a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 647,893 shares of company stock valued at $132,718,279 in the last three months. Company insiders own 10.89% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on NET. Bank of America boosted their price objective on shares of Cloudflare from $235.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, August 1st. DZ Bank reaffirmed a "sell" rating and set a $170.00 price objective on shares of Cloudflare in a research report on Tuesday, July 22nd. Royal Bank Of Canada boosted their price objective on shares of Cloudflare from $210.00 to $228.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Needham & Company LLC boosted their price objective on shares of Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Cloudflare from $175.00 to $230.00 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 given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $196.54.

Cloudflare Company 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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