Jackson Square Capital LLC Raises Position in Cloudflare, Inc. $NET

Key Points

• Jackson Square Capital LLC significantly increased its holdings in Cloudflare, Inc. by 236.3% during the second quarter, now owning 41,311 shares valued at approximately $8.09 million.
• Several analysts raised their price targets for Cloudflare, with Wells Fargo setting a new target at $250.00, while the consensus rating remains a "Moderate Buy."
• Insider trading activity includes CEO Matthew Prince selling over 52,000 shares for roughly $11.86 million, contributing to a total insider sale of approximately $133.78 million in the last 90 days.

Jackson Square Capital LLC boosted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 236.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,311 shares of the company's stock after buying an additional 29,026 shares during the period. Cloudflare accounts for approximately 1.8% of Jackson Square Capital LLC's portfolio, making the stock its 16th biggest holding. Jackson Square Capital LLC's holdings in Cloudflare were worth $8,090,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NET. Mather Group LLC. grew its stake in shares of Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after purchasing an additional 202 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Cloudflare in the 1st quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC grew its stake in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares during the last quarter. Finally, Global Financial Private Client LLC grew its stake in shares of Cloudflare by 38,100.0% in the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock valued at $43,000 after purchasing an additional 381 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Activity

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $195.73, for a total transaction of $2,935,950.00. Following the completion of the sale, the director owned 1,028,073 shares of the company's stock, valued at approximately $201,224,728.29. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 14,575 shares of the company's stock, valued at approximately $2,851,015.75. This trade represents a 63.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 665,738 shares of company stock valued at $131,968,542 in the last 90 days. 10.89% of the stock is owned by corporate insiders.

Cloudflare Trading Up 1.3%

Cloudflare stock traded up $2.81 during trading on Friday, hitting $226.38. The company's stock had a trading volume of 4,004,051 shares, compared to its average volume of 2,061,458. The stock has a market capitalization of $78.89 billion, a price-to-earnings ratio of -665.82 and a beta of 1.95. The stock's fifty day moving average is $204.65 and its 200 day moving average is $164.83. Cloudflare, Inc. has a 1-year low of $77.80 and a 1-year high of $230.10. 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 posted its quarterly earnings results 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. 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 the consensus estimate of $501.58 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. The firm's quarterly 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. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on NET shares. Scotiabank lifted 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. Citigroup lifted their target price on Cloudflare from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Bank of America lifted their price target on Cloudflare from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Royal Bank Of Canada lifted their price target on Cloudflare from $210.00 to $228.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Robert W. Baird lifted their price target on Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $191.28.

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.