Scientech Research LLC Acquires New Position in Cloudflare, Inc. $NET

Scientech Research LLC acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,481 shares of the company's stock, valued at approximately $956,000.

A number of other large investors also recently modified their holdings of the company. Petrus Trust Company LTA increased its stake in Cloudflare by 16.0% in the 1st quarter. Petrus Trust Company LTA now owns 3,364 shares of the company's stock worth $379,000 after purchasing an additional 465 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in Cloudflare by 1.7% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 37,005 shares of the company's stock worth $4,170,000 after purchasing an additional 628 shares during the period. NewEdge Advisors LLC increased its stake in Cloudflare by 146.9% in the 1st quarter. NewEdge Advisors LLC now owns 24,122 shares of the company's stock worth $2,718,000 after purchasing an additional 14,352 shares during the period. Interval Partners LP increased its stake in Cloudflare by 24.0% in the 1st quarter. Interval Partners LP now owns 37,914 shares of the company's stock worth $4,273,000 after purchasing an additional 7,333 shares during the period. Finally, Hancock Whitney Corp purchased a new position in Cloudflare in the 1st quarter worth approximately $1,511,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Trading Up 2.1%

NYSE NET opened at $214.44 on Monday. 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, Inc. has a twelve month low of $74.88 and a twelve month high of $219.00. The firm has a market capitalization of $74.73 billion, a PE ratio of -630.71 and a beta of 1.95. The stock's 50 day moving average is $198.18 and its 200 day moving average is $159.59.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The company had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. During the same period in the previous year, the company posted $0.20 earnings per share. The firm's revenue was up 27.8% on a year-over-year basis. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. Research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 25,641 shares of Cloudflare stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Graham-Cumming sold 10,215 shares of Cloudflare stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $206.32, for a total value of $2,107,558.80. Following the sale, the director owned 495,191 shares in the company, valued at $102,167,807.12. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 687,029 shares of company stock valued at $130,970,115 over the last ninety days. Insiders own 10.89% of the company's stock.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of analyst reports. Susquehanna decreased their price target on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. Needham & Company LLC lifted 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. UBS Group lifted their price target on Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Bank of America lifted their price target on Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Cowen reiterated a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. 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 given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $191.28.

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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