RFG Advisory LLC Acquires 2,637 Shares of Cloudflare, Inc. $NET

Key Points

• RFG Advisory LLC increased its holdings in Cloudflare, Inc. by 15.5%, acquiring an additional 2,637 shares during the second quarter, bringing their total ownership to 19,609 shares valued at approximately $3.84 million.
• The company recently reported $0.21 earnings per share for the quarter, surpassing analysts' expectations, with revenue of $512.32 million, reflecting a year-over-year increase of 27.8%.
• Cloudflare's stock has received multiple target price upgrades from analysts, with JMP Securities increasing their target from $180 to $225 and KeyCorp from $210 to $235, indicating positive sentiment in the market.

RFG Advisory LLC raised its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,609 shares of the company's stock after purchasing an additional 2,637 shares during the quarter. RFG Advisory LLC's holdings in Cloudflare were worth $3,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Hilltop National Bank bought a new position in Cloudflare during the second quarter valued at $36,000. Ameritas Advisory Services LLC bought a new position in Cloudflare during the second quarter valued at $39,000. Mather Group LLC. lifted its position in Cloudflare by 1,188.2% during 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 last quarter. LRI Investments LLC lifted its position in Cloudflare by 680.5% during the second quarter. LRI Investments LLC now owns 320 shares of the company's stock valued at $63,000 after purchasing an additional 279 shares during the last quarter. Finally, Park Place Capital Corp lifted its position in Cloudflare by 1,492.6% during the second quarter. Park Place Capital Corp now owns 430 shares of the company's stock valued at $80,000 after purchasing an additional 403 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Trading Down 2.2%

Shares of NET opened at $217.74 on Wednesday. Cloudflare, Inc. has a 1-year low of $85.60 and a 1-year high of $230.10. The company has a 50-day moving average of $212.47 and a 200 day moving average of $176.61. The firm has a market capitalization of $75.88 billion, a price-to-earnings ratio of -640.41 and a beta of 1.99. 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 (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. The company had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The firm's revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last 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. On average, research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NET shares. JMP Securities raised their target price on shares of Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Monday, July 28th. KeyCorp raised their target price on shares of Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Mizuho raised their target price on shares of Cloudflare from $220.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Piper Sandler raised their target price on shares of Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, DZ Bank restated a "sell" rating and issued a $170.00 target price on shares of Cloudflare in a report on Tuesday, July 22nd. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $196.54.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $200.43, for a total transaction of $10,499,325.12. Following the transaction, the chief executive officer owned 20,111 shares of the company's stock, valued at approximately $4,030,847.73. This trade represents a 72.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 34,270 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $48,351,063.50. This trade represents a 12.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 647,893 shares of company stock worth $132,718,279. Company 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.

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