Cloudflare, Inc. $NET Shares Bought by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC increased its stake in Cloudflare, Inc. (NYSE: NET) by 9.7% during the first quarter, bringing its total holdings to 26,792 shares valued at approximately $3 million.
• Analysts show optimism for Cloudflare, with various upgrades to target prices; Citigroup raised its target from $240 to $255 while Bank of America increased it from $235 to $240, both maintaining a "buy" rating.
• Insider sales included significant transactions from the Director and CFO, with Carl Ledbetter selling 15,000 shares and CFO Thomas J. Seifert selling 41,555 shares, indicating a decreased ownership stake by both following these transactions.

Kestra Advisory Services LLC increased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 9.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 26,792 shares of the company's stock after purchasing an additional 2,359 shares during the period. Kestra Advisory Services LLC's holdings in Cloudflare were worth $3,019,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NET. Mather Group LLC. boosted its position in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after purchasing an additional 202 shares during the period. NBC Securities Inc. acquired a new stake in Cloudflare during the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC lifted its holdings in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after buying an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after buying an additional 142 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Cloudflare during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NET shares. Bank of America raised their price objective on shares of Cloudflare from $235.00 to $240.00 and gave the company a "buy" rating in a report on Friday, August 1st. Cowen restated a "buy" rating on shares of Cloudflare in a report on Monday, June 16th. Citigroup raised their price objective on shares of Cloudflare from $240.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 18th. Susquehanna reduced their price objective on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Finally, Royal Bank Of Canada raised their price objective on shares of Cloudflare from $210.00 to $228.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One investment 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Cloudflare Stock Performance

Cloudflare stock traded down $4.46 during midday trading on Monday, hitting $208.96. 2,095,088 shares of the company's stock were exchanged, compared to its average volume of 2,356,969. 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 stock has a market cap of $72.82 billion, a price-to-earnings ratio of -614.60 and a beta of 1.95. The firm's 50 day simple moving average is $196.16 and its 200 day simple moving average is $158.05.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $512.32 million for 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%. Cloudflare's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period last year, the firm posted $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. Equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $171.25, for a total transaction of $8,970,760.00. Following the completion of the transaction, the chief executive officer owned 381,213 shares in the company, valued at approximately $65,282,726.25. The trade was a 12.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 34,270 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the completion of the sale, the chief financial officer owned 241,550 shares of the company's stock, valued at approximately $48,351,063.50. The trade was a 12.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 728,705 shares of company stock worth $137,798,322. 10.89% of the stock is currently owned by insiders.

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.