Titleist Asset Management LLC Sells 20,667 Shares of Cloudflare, Inc. $NET

Key Points

• Titleist Asset Management LLC significantly reduced its position in Cloudflare, Inc. by 66.7%, now holding 10,330 shares valued at approximately $1.16 million.
• Several hedge funds have increased their holdings in Cloudflare, with Mather Group raising its position by 1,188.2% in the first quarter.
• Analysts are optimistic about Cloudflare's growth, with an average price target of $191.28 and a consensus rating of "Moderate Buy."

Titleist Asset Management LLC cut its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 66.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,330 shares of the company's stock after selling 20,667 shares during the quarter. Titleist Asset Management LLC's holdings in Cloudflare were worth $1,164,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Smartleaf Asset Management LLC lifted its holdings in shares of Cloudflare by 6.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company's stock valued at $152,000 after acquiring an additional 77 shares in the last quarter. Gill Capital Partners LLC lifted its holdings in shares of Cloudflare by 2.9% during the 1st quarter. Gill Capital Partners LLC now owns 2,761 shares of the company's stock valued at $311,000 after acquiring an additional 79 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Cloudflare by 11.0% during the 1st quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $108,000 after acquiring an additional 95 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Cloudflare by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock valued at $447,000 after acquiring an additional 98 shares in the last quarter. Finally, Freestone Capital Holdings LLC lifted its holdings in shares of Cloudflare by 1.9% during the 1st quarter. Freestone Capital Holdings LLC now owns 5,263 shares of the company's stock valued at $593,000 after acquiring an additional 98 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Cloudflare stock traded up $4.43 during midday trading on Thursday, reaching $210.14. 1,390,128 shares of the stock traded hands, compared to its average volume of 3,531,263. The firm has a market cap of $73.23 billion, a price-to-earnings ratio of -618.05 and a beta of 1.95. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The firm has a fifty day moving average price of $197.41 and a two-hundred day moving average price of $158.99. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $219.00.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $512.32 million for 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 company's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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, equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 34,270 shares of the stock in a transaction on 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 owned 241,550 shares in the company, valued at $48,351,063.50. This represents a 12.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michelle Zatlyn sold 35,100 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the sale, the insider directly owned 14,575 shares of the company's stock, valued at approximately $2,794,173.25. This represents a 70.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 676,814 shares of company stock worth $128,862,556. Company insiders own 10.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NET. Guggenheim lifted their target price on shares of Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a report on Friday, August 1st. JMP Securities lifted their price target on shares of Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Monday, July 28th. Robert W. Baird boosted their price objective on Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Oppenheimer reissued an "outperform" rating and issued a $200.00 price objective (up from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Finally, Cantor Fitzgerald boosted their price objective on Cloudflare from $162.00 to $199.00 and gave the company a "neutral" rating in a report on Friday, August 1st. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $191.28.

Cloudflare Company 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.