Greenleaf Trust Purchases Shares of 1,422 Cloudflare, Inc. $NET

Key Points

• Greenleaf Trust has acquired 1,422 shares of Cloudflare, Inc. (NYSE: NET) valued at approximately $278,000, reflecting a growing interest from institutional investors in the company.
• Analysts have recently increased their price targets for Cloudflare, with Bank of America raising its target to $240 and JMP Securities to $225, indicating a positive outlook on the stock.
• Insider transactions revealed significant sales, including Michelle Zatlyn selling 25,641 shares for over $5.4 million, prompting questions about insider sentiment regarding the company's future.

Greenleaf Trust purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,422 shares of the company's stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NET. Wellington Management Group LLP raised its position in Cloudflare by 47.0% during the 4th quarter. Wellington Management Group LLP now owns 5,930 shares of the company's stock valued at $639,000 after purchasing an additional 1,896 shares during the last quarter. GAMMA Investing LLC raised its position in Cloudflare by 20,954.7% during the 1st quarter. GAMMA Investing LLC now owns 123,170 shares of the company's stock valued at $13,880,000 after purchasing an additional 122,585 shares during the last quarter. NBC Securities Inc. bought a new position in Cloudflare during the 1st quarter valued at approximately $27,000. Merit Financial Group LLC bought a new position in Cloudflare during the 1st quarter valued at approximately $277,000. Finally, SeaCrest Wealth Management LLC bought a new position in Cloudflare during the 1st quarter valued at approximately $235,000. Institutional investors own 82.68% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JMP Securities increased 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. Piper Sandler increased their target price on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Bank of America increased their target price on Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Morgan Stanley increased their target price on Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, DZ Bank reissued a "sell" rating and issued a $170.00 target price on shares of Cloudflare in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $191.28.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $212.49, for a total transaction of $5,448,456.09. Following the sale, the insider directly owned 14,575 shares in the company, valued at approximately $3,097,041.75. This trade represents a 63.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carl Ledbetter sold 15,000 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $223.91, for a total value of $3,358,650.00. Following the completion of the transaction, the director owned 1,013,073 shares in the company, valued at approximately $226,837,175.43. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 727,020 shares of company stock worth $146,028,939. Insiders own 10.89% of the company's stock.

Cloudflare Stock Performance

Shares of NET opened at $216.95 on Friday. The business's fifty day simple moving average is $210.27 and its two-hundred day simple moving average is $171.81. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 12 month low of $79.16 and a 12 month high of $230.10. The company has a market cap of $75.60 billion, a price-to-earnings ratio of -638.08 and a beta of 1.99.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The business had revenue of $512.32 million for the quarter, compared to the consensus estimate of $501.58 million. During the same period last year, the business posted $0.20 EPS. The company's revenue was up 27.8% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

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.

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