Sanders Morris Harris LLC acquired a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,500 shares of the company's stock, valued at approximately $294,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in NET. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Cloudflare by 33.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock valued at $352,610,000 after acquiring an additional 786,063 shares in the last quarter. Nuveen LLC bought a new position in Cloudflare in the first quarter worth about $88,203,000. American Century Companies Inc. raised its holdings in Cloudflare by 34.5% in the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after purchasing an additional 779,819 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Cloudflare by 129.7% in the first quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock worth $123,647,000 after purchasing an additional 619,526 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Cloudflare by 1.8% in the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock worth $3,475,011,000 after purchasing an additional 538,850 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.
Insider Transactions at Cloudflare
In related news, insider Michelle Zatlyn sold 25,641 shares of the company's stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $215.38, for a total value of $5,522,558.58. Following the sale, the insider owned 14,575 shares in the company, valued at $3,139,163.50. This represents a 63.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,277 shares of the company's stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $213.94, for a total value of $11,184,141.38. Following the completion of the sale, the chief executive officer owned 107 shares in the company, valued at approximately $22,891.58. This represents a 99.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 710,270 shares of company stock valued at $147,320,646 over the last quarter. Company insiders own 10.89% of the company's stock.
Cloudflare Price Performance
Shares of NYSE NET opened at $212.80 on Tuesday. The business's 50 day moving average price is $212.89 and its 200 day moving average price is $179.93. The firm has a market cap of $74.16 billion, a P/E ratio of -625.87 and a beta of 1.99. Cloudflare, Inc. has a 52 week low of $85.60 and a 52 week high of $230.10. 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 earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. The firm had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.Cloudflare's revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. 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 expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. Scotiabank boosted their target price on shares of Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. DZ Bank reiterated a "sell" rating and issued a $170.00 target price on shares of Cloudflare in a report on Tuesday, July 22nd. Cantor Fitzgerald boosted their target price on shares of Cloudflare from $162.00 to $199.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. UBS Group boosted their target price on shares of Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Needham & Company LLC boosted their price target on Cloudflare from $200.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $196.54.
View Our Latest Analysis on Cloudflare
Cloudflare Profile
(
Free Report)
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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