Concurrent Investment Advisors LLC Decreases Holdings in Cloudflare, Inc. $NET

Key Points

• Concurrent Investment Advisors LLC significantly reduced its holdings in Cloudflare, Inc. by 59.0%, owning 2,875 shares valued at $563,000 after selling 4,144 shares in the second quarter.
• Several large investors, including UBS and American Century, have increased their stakes in Cloudflare, with hedge funds collectively owning 82.68% of the stock.
• Analysts have increased their price targets for Cloudflare, with a consensus target of $196.54, reflecting a generally positive outlook amid recent share movements.

Concurrent Investment Advisors LLC cut its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 59.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,875 shares of the company's stock after selling 4,144 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Cloudflare were worth $563,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NET. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Cloudflare by 33.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock worth $352,610,000 after acquiring an additional 786,063 shares in the last quarter. Nuveen LLC purchased a new position in shares of Cloudflare during the first quarter worth approximately $88,203,000. American Century Companies Inc. raised its stake in shares of Cloudflare by 34.5% during the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after acquiring an additional 779,819 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Cloudflare by 129.7% during the first quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock worth $123,647,000 after acquiring an additional 619,526 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Cloudflare by 1.8% during the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock worth $3,475,011,000 after acquiring an additional 538,850 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NET shares. Robert W. Baird upped their price target on shares of Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Stifel Nicolaus upped their price target on shares of Cloudflare from $175.00 to $230.00 and gave the company a "buy" rating in a report on Friday, August 1st. Mizuho upped their price target on shares of Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, August 1st. UBS Group upped their price target on shares of Cloudflare from $145.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Morgan Stanley upped their price target on shares of Cloudflare from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $196.54.

Cloudflare Stock Down 0.7%

Shares of Cloudflare stock opened at $209.94 on Friday. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The company's fifty day simple moving average is $212.65 and its two-hundred day simple moving average is $178.22. The company has a market cap of $73.16 billion, a P/E ratio of -617.47 and a beta of 1.99. Cloudflare, Inc. has a 12-month low of $85.60 and a 12-month high of $230.10.

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, beating analysts' consensus estimates of $0.18 by $0.03. The business 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%. The company's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the firm 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. Research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity at Cloudflare

In other news, CFO Thomas J. Seifert sold 34,270 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $200.17, for a total value of $6,859,825.90. Following the sale, the chief financial officer directly owned 241,550 shares of the company's stock, valued at $48,351,063.50. This represents a 12.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $200.43, for a total transaction of $10,499,325.12. Following the completion of the sale, the chief executive officer directly owned 20,111 shares in the company, valued at $4,030,847.73. This represents a 72.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 729,540 shares of company stock valued at $150,883,922 in the last 90 days. 10.89% of the stock is owned by company insiders.

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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