19,327 Shares in Cloudflare, Inc. $NET Purchased by Silvant Capital Management LLC

Key Points

• Silvant Capital Management LLC has invested approximately $2.18 million in Cloudflare, acquiring 19,327 shares in the first quarter, as reported in their recent SEC filing.
• Several hedge funds significantly increased their positions in Cloudflare during the first quarter, with institutional investors now owning 82.68% of the company's stock.
• Cloudflare recently reported earnings that exceeded expectations, with revenue of $512.32 million, and analysts anticipate a Moderate Buy rating with a consensus target price of $191.28 for the stock.

Silvant Capital Management LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 19,327 shares of the company's stock, valued at approximately $2,178,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position in Cloudflare by 86.8% during the 1st quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock worth $123,000 after acquiring an additional 508 shares during the last quarter. Wealthedge Investment Advisors LLC grew its position in shares of Cloudflare by 64.5% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company's stock worth $1,367,000 after buying an additional 4,755 shares during the last quarter. American Century Companies Inc. grew its position in shares of Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after buying an additional 779,819 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Cloudflare by 9.6% during the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock valued at $297,000 after purchasing an additional 230 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Cloudflare by 7.0% during the first quarter. Amalgamated Bank now owns 21,402 shares of the company's stock valued at $2,412,000 after purchasing an additional 1,400 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NET. Capital One Financial upgraded Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Needham & Company LLC lifted their price objective on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, August 1st. CICC Research upgraded Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price target for the company in a research note on Monday, May 12th. Bank of America lifted their price objective on Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada lifted their price objective on Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $191.28.

Cloudflare Stock Performance

NYSE:NET traded down $4.46 during mid-day trading on Monday, hitting $208.96. 2,095,088 shares of the company traded hands, compared to its average volume of 2,356,969. The stock's fifty day moving average price is $196.16 and its 200-day moving average price is $158.05. Cloudflare, Inc. has a one year low of $74.88 and a one year high of $219.00. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. The firm has a market cap of $72.82 billion, a price-to-earnings ratio of -614.60 and a beta of 1.95.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $512.32 million during 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 previous year, the company posted $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. Research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $171.25, for a total value of $8,970,760.00. Following the completion of the transaction, the chief executive officer owned 381,213 shares of the company's stock, valued at $65,282,726.25. This represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 34,270 shares of the company's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $200.17, for a total value of $6,859,825.90. Following the completion of the transaction, the chief financial officer directly owned 241,550 shares of the company's stock, valued at approximately $48,351,063.50. This trade represents a 12.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 728,705 shares of company stock worth $137,798,322. 10.89% of the stock is currently owned by insiders.

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.