Envestnet Portfolio Solutions Inc. Increases Holdings in Cloudflare, Inc. $NET

Key Points

• Envestnet Portfolio Solutions Inc. increased its holdings in Cloudflare, Inc. by 27.6% during the second quarter, owning 8,419 shares valued at approximately $1,649,000.
• Insider transactions included a significant sale by Michelle Zatlyn, who sold 25,641 shares worth over $5.5 million, leading to a decrease of 63.76% in her ownership position.
• Cloudflare's stock has a consensus rating of "Moderate Buy" from analysts, with an average price target set at $196.54, and the company reported a year-over-year revenue growth of 27.8%.

Envestnet Portfolio Solutions Inc. lifted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 27.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,419 shares of the company's stock after acquiring an additional 1,822 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Cloudflare were worth $1,649,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. ORG Partners LLC boosted its stake in shares of Cloudflare by 11.9% during the 2nd quarter. ORG Partners LLC now owns 498 shares of the company's stock worth $92,000 after acquiring an additional 53 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of Cloudflare by 1.9% during the 2nd quarter. Yousif Capital Management LLC now owns 4,044 shares of the company's stock worth $792,000 after purchasing an additional 75 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Cloudflare by 6.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company's stock worth $152,000 after purchasing an additional 77 shares during the last quarter. Gill Capital Partners LLC raised its position in shares of Cloudflare by 2.9% during the 1st quarter. Gill Capital Partners LLC now owns 2,761 shares of the company's stock worth $311,000 after purchasing an additional 79 shares during the last quarter. Finally, Spire Wealth Management raised its position in shares of Cloudflare by 11.0% during the 1st quarter. Spire Wealth Management now owns 962 shares of the company's stock worth $108,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In other news, insider Michelle Zatlyn sold 25,641 shares of the company's stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $215.38, for a total transaction of $5,522,558.58. Following the completion of the sale, the insider directly owned 14,575 shares in the company, valued at $3,139,163.50. This represents a 63.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Graham-Cumming sold 2,520 shares of the company's stock in a transaction on Monday, October 13th. The stock was sold at an average price of $221.36, for a total value of $557,827.20. Following the sale, the director owned 495,191 shares of the company's stock, valued at approximately $109,615,479.76. The trade was a 0.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 729,540 shares of company stock worth $150,883,922. 10.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NET has been the subject of several research reports. Stifel Nicolaus lifted their price objective on Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Citigroup lifted their price objective on Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Piper Sandler lifted their price objective on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Robert W. Baird lifted their price objective on Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Bank of America increased their price target on Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned 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, the company has a consensus rating of "Moderate Buy" and an average price target of $196.54.

Cloudflare Stock Down 0.7%

NET opened at $209.94 on Friday. The stock has a market capitalization of $73.16 billion, a price-to-earnings ratio of -617.47 and a beta of 1.99. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The business has a 50-day moving average of $212.65 and a two-hundred day moving average of $178.22. 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 released its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.03. The business 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 business's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior 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. On average, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share 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.

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.