Parallel Advisors LLC Has $1.05 Million Stock Holdings in Cloudflare, Inc. $NET

Key Points

• Parallel Advisors LLC increased its holdings in Cloudflare, Inc. by 38.7%, owning 5,370 shares valued at approximately $1.05 million as of its latest SEC filing.
• Insider sales included significant transactions from CEO Matthew Prince and co-founder Michelle Zatlyn, with a combined total of over $16 million in shares sold recently.
• Cloudflare's stock has reached a 52-week high of $230.10, and analysts have set target prices for the stock ranging from $200.00 to $240.00, indicating a generally positive outlook.

Parallel Advisors LLC increased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 38.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,370 shares of the company's stock after purchasing an additional 1,499 shares during the quarter. Parallel Advisors LLC's holdings in Cloudflare were worth $1,052,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NET. Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 77 shares during the last quarter. Gill Capital Partners LLC increased its position 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 purchasing an additional 79 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Cloudflare by 11.0% during the first quarter. Spire Wealth Management now owns 962 shares of the company's stock worth $108,000 after buying an additional 95 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Cloudflare by 2.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock worth $447,000 after purchasing an additional 98 shares in the last quarter. Finally, Freestone Capital Holdings LLC increased its stake in shares of Cloudflare by 1.9% in the first quarter. Freestone Capital Holdings LLC now owns 5,263 shares of the company's stock valued at $593,000 after buying an additional 98 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $226.46, for a total transaction of $11,862,880.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $195.61, for a total transaction of $5,015,636.01. Following the transaction, the insider directly owned 14,575 shares in the company, valued at $2,851,015.75. The trade was a 63.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 675,738 shares of company stock worth $133,776,142. Insiders own 10.89% of the company's stock.

Wall Street Analysts Forecast Growth

NET has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. UBS Group raised their price objective on shares of Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Cowen restated a "buy" rating on shares of Cloudflare in a report on Monday, June 16th. Mizuho raised their price target on shares of Cloudflare from $220.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, JMP Securities lifted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Cloudflare currently has an average rating of "Moderate Buy" and an average target price of $191.28.

Cloudflare Price Performance

NYSE NET opened at $213.85 on Thursday. Cloudflare, Inc. has a fifty-two week low of $77.60 and a fifty-two week high of $230.10. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The company has a market capitalization of $74.52 billion, a PE ratio of -628.97 and a beta of 1.95. The business's fifty day moving average is $202.91 and its 200 day moving average is $163.54.

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

About Cloudflare

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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