Mirae Asset Global Investments Co. Ltd. Purchases 2,310 Shares of Cloudflare, Inc. $NET

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Cloudflare, Inc. by 9% in Q2, acquiring an additional 2,310 shares, bringing its total holdings to 27,989 shares worth approximately $5.48 million.
• Cloudflare stock's recent performance has analysts optimistic, with multiple firms raising their target prices, including Mizuho, which increased its target from $220 to $240, maintaining an "outperform" rating.
• Corporate insiders have sold a combined total of 674,636 shares valued at about $136 million over the last three months, indicating a potential shift in shareholder confidence amidst ongoing market interest.

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,989 shares of the company's stock after purchasing an additional 2,310 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Cloudflare were worth $5,481,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. acquired a new position in Cloudflare in the 1st quarter valued at $27,000. Merit Financial Group LLC acquired a new position in shares of Cloudflare in the first quarter valued at about $277,000. SeaCrest Wealth Management LLC bought a new position in Cloudflare during the first quarter worth about $235,000. Wedmont Private Capital raised its stake in Cloudflare by 32.7% in the 1st quarter. Wedmont Private Capital now owns 5,151 shares of the company's stock worth $547,000 after purchasing an additional 1,269 shares in the last quarter. Finally, Miracle Mile Advisors LLC boosted its holdings in Cloudflare by 26.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 5,057 shares of the company's stock valued at $570,000 after purchasing an additional 1,068 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on NET shares. Mizuho raised their target price on shares of Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Cowen reissued a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Royal Bank Of Canada upped their target price on Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. 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. Finally, Wells Fargo & Company boosted their price target on Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. 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 issued a Sell rating to the stock. According to MarketBeat.com, Cloudflare has an average rating of "Hold" and an average target price of $191.28.

Cloudflare Stock Performance

Shares of NET opened at $221.09 on Tuesday. The stock has a market capitalization of $77.05 billion, a P/E ratio of -650.26 and a beta of 1.99. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The firm's fifty day simple moving average is $210.71 and its two-hundred day simple moving average is $172.90. Cloudflare, Inc. has a 12 month low of $79.16 and a 12 month high of $230.10.

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

Insider Buying and Selling at Cloudflare

In related news, insider Michelle Zatlyn sold 35,100 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $191.71, for a total value of $6,729,021.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 34,270 shares of Cloudflare stock in a transaction on Monday, July 21st. The stock was sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $48,351,063.50. This represents a 12.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 674,636 shares of company stock valued at $135,957,067 over the last three months. Corporate insiders own 10.89% of the company's stock.

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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