EFG Asset Management North America Corp. Sells 1,553 Shares of Cloudflare, Inc. $NET

Key Points

• EFG Asset Management North America Corp. reduced its stake in Cloudflare, Inc. by 4.7%, selling 1,553 shares, and now holds 31,153 shares valued at approximately $3.5 million.
• Several large investors, including Vanguard Group and American Century Companies, increased their positions in Cloudflare, contributing to institutional ownership of 82.68%.
• Cloudflare recently reported a $0.21 EPS for the quarter, exceeding analyst expectations, with revenue up 27.8% year over year.

EFG Asset Management North America Corp. lessened its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,153 shares of the company's stock after selling 1,553 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Cloudflare were worth $3,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of NET. Comerica Bank raised its position in shares of Cloudflare by 9.4% in the 4th quarter. Comerica Bank now owns 8,856 shares of the company's stock worth $954,000 after purchasing an additional 764 shares during the last quarter. Ameriprise Financial Inc. raised its position in Cloudflare by 40.9% in the 4th quarter. Ameriprise Financial Inc. now owns 504,029 shares of the company's stock worth $54,293,000 after buying an additional 146,389 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in Cloudflare in the 4th quarter worth about $238,000. Captrust Financial Advisors raised its position in Cloudflare by 21.1% in the 4th quarter. Captrust Financial Advisors now owns 48,228 shares of the company's stock worth $5,193,000 after buying an additional 8,401 shares during the last quarter. Finally, Bridgefront Capital LLC purchased a new position in Cloudflare in the 4th quarter worth about $243,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $200.30, for a total value of $11,843,739.00. Following the completion of the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $48,382,465. This represents a 19.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $171.25, for a total value of $8,970,760.00. Following the completion of the transaction, the chief executive officer owned 381,213 shares of the company's stock, valued at $65,282,726.25. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 687,029 shares of company stock valued at $130,970,115. 10.89% of the stock is owned by company insiders.

Cloudflare Stock Performance

Shares of NYSE:NET traded up $3.53 during mid-day trading on Monday, reaching $217.96. 2,389,857 shares of the company traded hands, compared to its average volume of 3,517,334. The company's 50 day moving average price is $198.18 and its 200-day moving average price is $159.59. The firm has a market cap of $75.96 billion, a PE ratio of -641.07 and a beta of 1.95. 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, Inc. has a 52 week low of $74.88 and a 52 week high of $220.99.

Cloudflare (NYSE:NET - Get Free Report) last announced 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 company had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The firm's revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the company 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. On average, equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Royal Bank Of Canada boosted their target price on Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Cantor Fitzgerald boosted their target price on Cloudflare from $162.00 to $199.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. UBS Group boosted their target price on Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Guggenheim boosted their target price on Cloudflare from $70.00 to $111.00 and gave the stock a "sell" rating in a research report on Friday, August 1st. Finally, JMP Securities boosted their target price on Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Cloudflare has an average rating of "Moderate Buy" and an average target price of $191.28.

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.