Keystone Wealth Services LLC Purchases 1,474 Shares of Cloudflare, Inc. $NET

Key Points

• Keystone Wealth Services LLC increased its holdings in Cloudflare, Inc. by 17.0% during the 2nd quarter, owning a total of 10,129 shares valued at approximately $1,984,000.
• Multiple large investors, including UBS Asset Management and Raymond James Financial, also significantly increased their positions in Cloudflare, showcasing strong institutional interest.
• Brokerages have issued optimistic forecasts for Cloudflare, with target prices raised by firms like Mizuho and Wells Fargo, indicating a general consensus of a Moderate Buy rating on the stock.

Keystone Wealth Services LLC increased its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 17.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,129 shares of the company's stock after purchasing an additional 1,474 shares during the period. Keystone Wealth Services LLC's holdings in Cloudflare were worth $1,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NET. Mather Group LLC. lifted its holdings in Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after purchasing an additional 202 shares during the last quarter. NBC Securities Inc. acquired a new position in Cloudflare in the 1st quarter valued at $27,000. GPS Wealth Strategies Group LLC raised its holdings in 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 acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in 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 acquiring an additional 142 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in Cloudflare in the 4th quarter valued at $43,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NET shares. KeyCorp lifted their price objective on Cloudflare from $210.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Needham & Company LLC lifted their price objective on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a report on Friday, August 1st. Piper Sandler lifted their price objective on Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Morgan Stanley lifted their price target on Cloudflare from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Stifel Nicolaus lifted their price target on Cloudflare from $175.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Cloudflare Trading Up 1.3%

Shares of NYSE:NET traded up $2.81 during midday trading on Friday, reaching $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 firm has a market capitalization of $78.89 billion, a price-to-earnings ratio of -665.82 and a beta of 1.95. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The firm has a 50 day moving average price of $204.65 and a two-hundred day moving average price of $164.83. Cloudflare, Inc. has a fifty-two week low of $77.80 and a fifty-two week high of $230.10.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $512.32 million for 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 firm's revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the business earned $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. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 59,130 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $200.30, for a total value of $11,843,739.00. Following the completion of the sale, the chief financial officer directly owned 241,550 shares of the company's stock, valued at $48,382,465. This represents a 19.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 35,100 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $191.71, for a total value of $6,729,021.00. Following the completion of the transaction, the insider directly owned 14,575 shares of the company's stock, valued at approximately $2,794,173.25. This represents a 70.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 665,738 shares of company stock valued at $131,968,542 in the last 90 days. 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.