NewEdge Advisors LLC Grows Stock Position in Cloudflare, Inc. $NET

Key Points

• NewEdge Advisors LLC increased its stake in Cloudflare, Inc. by 146.9%, purchasing an additional 14,352 shares and bringing their total ownership to 24,122 shares worth approximately $2.72 million.
• The stock price of Cloudflare has shown a 2.0% increase, with a market capitalization of $77.66 billion and a one-year high of $225.29.
• Cloudflare reported a 27.8% year-over-year revenue growth in its most recent quarter, achieving $512.32 million, while surpassing analysts' expectations of $501.58 million.

NewEdge Advisors LLC lifted its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 146.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,122 shares of the company's stock after purchasing an additional 14,352 shares during the period. NewEdge Advisors LLC's holdings in Cloudflare were worth $2,718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NET. Mather Group LLC. boosted its holdings in Cloudflare by 1,188.2% in the first 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 period. NBC Securities Inc. purchased a new stake in Cloudflare during the 1st quarter worth about $27,000. GPS Wealth Strategies Group LLC lifted its holdings in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after buying an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after buying an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare during the 4th quarter worth about $43,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Up 2.0%

NET opened at $222.85 on Thursday. The business's 50-day simple moving average is $200.05 and its 200-day simple moving average is $160.89. 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, Inc. has a one year low of $75.22 and a one year high of $225.29. The stock has a market capitalization of $77.66 billion, a P/E ratio of -655.45 and a beta of 1.95.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping 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 business had revenue of $512.32 million for the quarter, compared to analysts' expectations of $501.58 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business's 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. Analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $171.25, for a total transaction of $8,970,760.00. Following the transaction, the chief executive officer owned 381,213 shares of the company's stock, valued at $65,282,726.25. This trade represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 34,270 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $200.17, for a total value of $6,859,825.90. Following the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at approximately $48,351,063.50. This represents a 12.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 633,404 shares of company stock worth $121,335,185. Corporate insiders own 10.89% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NET shares. Needham & Company LLC lifted their price target on Cloudflare from $200.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Royal Bank Of Canada lifted their price target on Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Stifel Nicolaus lifted their price target on Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, August 1st. DZ Bank reaffirmed a "sell" rating and set a $170.00 price target on shares of Cloudflare in a report on Tuesday, July 22nd. Finally, Piper Sandler lifted their price target on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $191.28.

Cloudflare 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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