Estate Counselors LLC Acquires New Shares in Cloudflare, Inc. $NET

Key Points

• Estate Counselors LLC acquired 28,025 shares of Cloudflare, Inc., valued at approximately $3,158,000, during the first quarter.
• Multiple hedge funds have increased their stakes in Cloudflare, demonstrating strong institutional interest, with 82.68% of the company's stock now owned by institutional investors.
• Analyst ratings for Cloudflare stock are mixed, with an average rating of "Moderate Buy" and a significant range in target prices from $111.00 to $200.00.

Estate Counselors LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,025 shares of the company's stock, valued at approximately $3,158,000.

Several other large investors have also recently added to or reduced their stakes in the company. Gill Capital Partners LLC increased its position in 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 buying an additional 79 shares during the period. Spire Wealth Management increased its position in Cloudflare by 11.0% during the 1st quarter. Spire Wealth Management now owns 962 shares of the company's stock worth $108,000 after buying an additional 95 shares during the period. Yousif Capital Management LLC increased its position in Cloudflare by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock worth $447,000 after buying an additional 98 shares during the period. Freestone Capital Holdings LLC increased its position in Cloudflare by 1.9% during the 1st quarter. Freestone Capital Holdings LLC now owns 5,263 shares of the company's stock worth $593,000 after buying an additional 98 shares during the period. Finally, Ellevest Inc. increased its position in Cloudflare by 2.3% during the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company's stock worth $489,000 after buying an additional 102 shares during the period. Institutional investors own 82.68% of the company's stock.

Wall Street Analysts Forecast Growth

NET has been the topic of several recent research reports. Jefferies Financial Group lowered their price objective on Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a research report on Friday, May 9th. Mizuho increased their price objective on Cloudflare from $220.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Guggenheim increased their price objective on Cloudflare from $70.00 to $111.00 and gave the stock a "sell" rating in a research report on Friday, August 1st. JMP Securities increased their target price on Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Monday, July 28th. Finally, Piper Sandler increased their target price on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" 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 given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Cloudflare presently has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Cloudflare Price Performance

Shares of NET traded up $3.1630 during trading hours on Friday, hitting $195.9330. 1,416,685 shares of the company were exchanged, compared to its average volume of 2,974,580. The company has a market cap of $68.28 billion, a price-to-earnings ratio of -576.27 and a beta of 1.84. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $219.00. 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 firm's fifty day moving average is $193.75 and its 200 day moving average is $156.82.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results 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 analyst estimates of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.Cloudflare's quarterly revenue 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, equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Douglas James Kramer sold 3,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $198.22, for a total value of $594,660.00. Following the sale, the insider directly owned 157,377 shares of the company's stock, valued at $31,195,268.94. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 34,270 shares of the firm'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 completion of the sale, the chief financial officer directly owned 241,550 shares in the company, valued at $48,351,063.50. This trade represents a 12.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 630,323 shares of company stock valued at $118,661,105 over the last ninety days. 10.89% of the stock is 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.