Cloudflare, Inc. $NET Shares Sold by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. reduced its holdings in Cloudflare, Inc. by 25.1%, selling 4,243 shares in the first quarter, bringing their total ownership to 12,641 shares valued at approximately <$1.43 million
• Multiple institutional investors are increasing their stakes in Cloudflare, with Gill Capital Partners LLC and others raising their holdings by up to 11.0% during the same period.
• Cloudflare last reported quarterly earnings of $0.21 per share, surpassing analyst estimates, with a revenue increase of 27.8% year-over-year, leading some analysts to raise their price targets for the stock significantly.

Northwestern Mutual Wealth Management Co. lessened its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 25.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,641 shares of the company's stock after selling 4,243 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Cloudflare were worth $1,425,000 as of its most recent SEC filing.

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

Cloudflare Trading Up 2.5%

NYSE:NET traded up $5.10 during midday trading on Thursday, hitting $210.81. The stock had a trading volume of 889,186 shares, compared to its average volume of 3,529,667. The stock has a 50-day moving average of $197.41 and a 200 day moving average of $158.99. The company has a market capitalization of $73.46 billion, a price-to-earnings ratio of -619.34 and a beta of 1.95. Cloudflare, Inc. has a one year low of $74.88 and a one year high of $219.00. 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 issued 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 net margin of 6.22% and a negative return on equity of 8.42%. The business had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. Cloudflare's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NET. Needham & Company LLC raised their price objective on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Cowen reissued a "buy" rating on shares of Cloudflare in a report on Monday, June 16th. Piper Sandler upped their price target on shares of Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Wells Fargo & Company lifted their price objective on shares of Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, CICC Research upgraded shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 target price on the stock in a research report on Monday, May 12th. 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 three have assigned a Sell rating to the company. According to MarketBeat.com, Cloudflare has an average rating of "Moderate Buy" and a consensus price target of $191.28.

Insider Buying and Selling

In related news, insider Michelle Zatlyn sold 25,641 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $195.61, for a total transaction of $5,015,636.01. Following the completion of the sale, the insider owned 14,575 shares of the company's stock, valued at approximately $2,851,015.75. This represents a 63.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $195.73, for a total value of $2,935,950.00. Following the completion of the sale, the director directly owned 1,028,073 shares of the company's stock, valued at approximately $201,224,728.29. This represents a 1.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 676,814 shares of company stock valued at $128,862,556 in the last 90 days. Corporate insiders own 10.89% of the company's stock.

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.