PDS Planning Inc Makes New Investment in Cloudflare, Inc. $NET

Key Points

• PDS Planning Inc acquired a new stake in Cloudflare, purchasing 1,523 shares valued at approximately $298,000 in the second quarter.
• Multiple hedge funds have recently increased their stakes in Cloudflare, contributing to the institutional ownership now at 82.68% of the company's stock.
• Cloudflare's recent earnings report revealed $512.32 million in revenue for the quarter, surpassing analysts' expectations, with a year-over-year growth of 27.8%.

PDS Planning Inc acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,523 shares of the company's stock, valued at approximately $298,000.

Other hedge funds have also recently modified their holdings of the company. Hilltop National Bank purchased a new stake in shares of Cloudflare in the 2nd quarter worth about $36,000. Ameritas Advisory Services LLC bought a new stake in Cloudflare during the second quarter worth about $39,000. Mather Group LLC. grew its holdings in Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after purchasing an additional 202 shares during the period. NBC Securities Inc. bought a new position in shares of Cloudflare during the first quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 35,100 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 14,575 shares of the company's stock, valued at approximately $2,794,173.25. This trade represents a 70.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 34,270 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $200.17, for a total value of $6,859,825.90. Following the sale, the chief financial officer owned 241,550 shares of the company's stock, valued at approximately $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 sold 673,534 shares of company stock valued at $137,405,454 over the last 90 days. 10.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on NET shares. Morgan Stanley upped their price target on Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. KeyCorp increased their target price on Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Bank of America raised their price target on Cloudflare from $235.00 to $240.00 and gave the company a "buy" rating in a report on Friday, August 1st. Scotiabank upped their price target on shares of Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Finally, Guggenheim raised their price objective on shares of Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Cloudflare currently has an average rating of "Moderate Buy" and an average target price of $196.54.

Cloudflare Price Performance

NYSE NET opened at $213.95 on Monday. Cloudflare, Inc. has a one year low of $85.60 and a one year high of $230.10. The stock has a 50-day moving average of $211.99 and a 200 day moving average of $175.57. 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 $74.56 billion, a price-to-earnings ratio of -629.26 and a beta of 1.99.

Cloudflare (NYSE:NET - Get Free Report) last announced 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 firm had revenue of $512.32 million for the quarter, compared to the consensus estimate of $501.58 million. During the same quarter last year, the firm posted $0.20 EPS. The business'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. On average, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS 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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