Masso Torrence Wealth Management Inc. Makes New $231,000 Investment in Cloudflare, Inc. $NET

Key Points

• Masso Torrence Wealth Management Inc. acquired a new stake in Cloudflare, Inc., buying 1,181 shares worth approximately $231,000 during the second quarter.
• In the first quarter, several institutional investors, including Vanguard Group and American Century Companies, increased their positions in Cloudflare, with institutional ownership now at 82.68%.
• Cloudflare reported a quarterly earnings per share (EPS) of $0.21, exceeding expectations, and its revenue for the quarter was up 27.8% year-over-year.

Masso Torrence Wealth Management Inc. purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,181 shares of the company's stock, valued at approximately $231,000.

Several other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in Cloudflare by 6.2% during the first quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company's stock valued at $152,000 after purchasing an additional 77 shares in the last quarter. Gill Capital Partners LLC lifted its holdings in Cloudflare by 2.9% during the first 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 in the last quarter. Spire Wealth Management lifted its holdings in Cloudflare by 11.0% during the first quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $108,000 after purchasing an additional 95 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Cloudflare by 2.5% during the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock valued at $447,000 after purchasing an additional 98 shares in the last quarter. Finally, Freestone Capital Holdings LLC lifted its holdings in Cloudflare by 1.9% during the first quarter. Freestone Capital Holdings LLC now owns 5,263 shares of the company's stock valued at $593,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NET shares. Scotiabank lifted their price target on shares of Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Royal Bank Of Canada boosted their target price on shares of Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Oppenheimer reissued an "outperform" rating and issued a $200.00 target price (up previously from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. JMP Securities boosted their target price on shares of Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Monday, July 28th. Finally, UBS Group upped their price target on shares of Cloudflare from $145.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. One equities 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $191.28.

Cloudflare Stock Performance

Shares of NYSE NET traded up $2.27 during midday trading on Monday, reaching $228.21. 2,635,320 shares of the stock were exchanged, compared to its average volume of 2,190,832. The firm has a 50-day simple moving average of $205.56 and a two-hundred day simple moving average of $165.78. Cloudflare, Inc. has a twelve month low of $77.80 and a twelve month high of $230.10. The firm has a market cap of $79.52 billion, a price-to-earnings ratio of -671.19 and a beta of 1.95. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. During the same quarter in the prior year, the firm earned $0.20 EPS. Cloudflare's quarterly revenue was up 27.8% on a year-over-year basis. 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 anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Graham-Cumming sold 10,215 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $206.32, for a total transaction of $2,107,558.80. Following the completion of the sale, the director owned 495,191 shares in the company, valued at $102,167,807.12. This represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michelle Zatlyn sold 25,641 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $195.61, for a total value of $5,015,636.01. Following the sale, the insider owned 14,575 shares of the company's stock, valued at $2,851,015.75. This trade represents a 63.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 690,738 shares of company stock valued at $137,603,592. 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.