Interval Partners LP Has $4.27 Million Holdings in Cloudflare, Inc. $NET

Key Points

• Interval Partners LP increased its stake in Cloudflare, Inc. by 24.0%, holding 37,914 shares valued at approximately $4.27 million as of its recent SEC filing.
• Cloudflare's stock has demonstrated a strong performance, opening at $214.44 and achieving a 52-week high of $219.00.
• In its latest earnings report, Cloudflare beat expectations with $0.21 earnings per share and revenue of $512.32 million, marking a 27.8% year-over-year increase.

Interval Partners LP boosted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 24.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,914 shares of the company's stock after purchasing an additional 7,333 shares during the period. Interval Partners LP's holdings in Cloudflare were worth $4,273,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in shares of Cloudflare by 6.2% in the first quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company's stock valued at $152,000 after acquiring an additional 77 shares during the period. Gill Capital Partners LLC raised its stake in Cloudflare by 2.9% during the 1st quarter. Gill Capital Partners LLC now owns 2,761 shares of the company's stock valued at $311,000 after purchasing an additional 79 shares during the last quarter. Spire Wealth Management boosted its holdings in Cloudflare by 11.0% in the 1st quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $108,000 after purchasing an additional 95 shares during the period. Yousif Capital Management LLC grew its position in Cloudflare by 2.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock worth $447,000 after purchasing an additional 98 shares during the last quarter. Finally, Freestone Capital Holdings LLC increased its holdings in shares of 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 purchasing an additional 98 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of Cloudflare from $175.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, August 1st. KeyCorp raised their price objective on Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Royal Bank Of Canada lifted their price objective on Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Scotiabank upped their target price on Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Finally, Guggenheim raised 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. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Cloudflare presently has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Cloudflare Price Performance

Shares of NYSE:NET traded up $0.63 during midday trading on Tuesday, reaching $218.55. 1,670,393 shares of the company's stock were exchanged, compared to its average volume of 3,506,326. The company's 50 day simple moving average is $199.30 and its two-hundred day simple moving average is $160.46. The firm has a market capitalization of $76.16 billion, a PE ratio of -642.79 and a beta of 1.95. Cloudflare, Inc. has a 12 month low of $74.88 and a 12 month high of $220.99. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data 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. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The firm had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same period in the prior year, the company posted $0.20 earnings per share. The business's revenue for the quarter 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. Equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michelle Zatlyn sold 25,641 shares of Cloudflare stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $195.61, for a total value of $5,015,636.01. Following the completion of the transaction, the insider owned 14,575 shares in the company, valued at approximately $2,851,015.75. The trade was a 63.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 41,555 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $190.64, for a total value of $7,922,045.20. Following the completion of the transaction, the chief financial officer directly owned 189,517 shares in the company, valued at $36,129,520.88. The trade was a 17.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 687,029 shares of company stock valued at $130,970,115. Corporate insiders own 10.89% of the company's stock.

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.