Oak Ridge Investments LLC Increases Stake in Cloudflare, Inc. $NET

Key Points

• Oak Ridge Investments LLC increased its stake in Cloudflare, Inc. by 2.9%, now holding 58,718 shares valued at approximately $11.5 million.
• Insider transactions included CEO Matthew Prince selling 52,384 shares for about $11.9 million, highlighting significant insider activity within the company.
• Analysts are optimistic about Cloudflare's future, with recent price target increases leading to an average rating of "Moderate Buy" and a target price of $196.54.

Oak Ridge Investments LLC increased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,718 shares of the company's stock after buying an additional 1,681 shares during the period. Cloudflare comprises 0.8% of Oak Ridge Investments LLC's investment portfolio, making the stock its 28th largest holding. Oak Ridge Investments LLC's holdings in Cloudflare were worth $11,499,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. ORG Partners LLC increased its stake in Cloudflare by 11.9% during the 2nd quarter. ORG Partners LLC now owns 498 shares of the company's stock worth $92,000 after buying an additional 53 shares during the period. Smartleaf Asset Management LLC increased its stake in Cloudflare by 6.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company's stock worth $152,000 after buying an additional 77 shares during the period. Gill Capital Partners LLC increased its stake in Cloudflare by 2.9% during the 1st quarter. Gill Capital Partners LLC now owns 2,761 shares of the company's stock worth $311,000 after buying an additional 79 shares during the period. Spire Wealth Management increased its stake in Cloudflare by 11.0% during the 1st quarter. Spire Wealth Management now owns 962 shares of the company's stock worth $108,000 after buying an additional 95 shares during the period. Finally, Yousif Capital Management LLC increased its stake in Cloudflare by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock worth $447,000 after buying an additional 98 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $226.46, for a total transaction of $11,862,880.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $223.91, for a total transaction of $3,358,650.00. Following the sale, the director owned 1,013,073 shares of the company's stock, valued at approximately $226,837,175.43. This represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 673,534 shares of company stock worth $137,405,454 over the last 90 days. 10.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JMP Securities increased their price objective on shares of Cloudflare from $180.00 to $225.00 and gave the company a "market outperform" rating in a research report on Monday, July 28th. Citigroup increased their price objective on shares of Cloudflare from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Scotiabank increased their price objective on shares of Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Mizuho increased their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Piper Sandler increased their price objective on shares of Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a research 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 assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $196.54.

Cloudflare Stock Down 3.2%

Shares of NYSE:NET opened at $213.95 on Friday. The stock has a market cap of $74.56 billion, a P/E ratio of -629.26 and a beta of 1.99. The firm has a fifty day moving average price of $211.99 and a 200 day moving average price of $175.17. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. Cloudflare, Inc. has a 1-year low of $85.60 and a 1-year high of $230.10.

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

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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