Van Hulzen Asset Management LLC Sells 1,470 Shares of Cloudflare, Inc. $NET

Key Points

• Van Hulzen Asset Management LLC reduced its stake in Cloudflare, Inc. by 21.6%, selling 1,470 shares and holding 5,325 shares valued at approximately $600,000.
• Large investors have shown varied activity, with Fred Alger Management LLC increasing its stake by 856.3%, while other firms like Vanguard and Raymond James also boosted their holdings significantly during the first quarter.
• Cloudflare's recent earnings report indicated a 27.8% year-over-year revenue growth and a reported earnings per share (EPS) of $0.21, exceeding analyst expectations of $0.18.

Van Hulzen Asset Management LLC lessened its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 21.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,325 shares of the company's stock after selling 1,470 shares during the period. Van Hulzen Asset Management LLC's holdings in Cloudflare were worth $600,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fred Alger Management LLC boosted its stake in shares of Cloudflare by 856.3% during the 4th quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock worth $100,604,000 after acquiring an additional 836,591 shares during the last quarter. Nuveen LLC purchased a new position in shares of Cloudflare during the 1st quarter worth $88,203,000. American Century Companies Inc. boosted its stake in shares of Cloudflare by 34.5% during the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after acquiring an additional 779,819 shares during the last quarter. Raymond James Financial Inc. boosted its stake in shares of Cloudflare by 129.7% during the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock worth $123,647,000 after acquiring an additional 619,526 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Cloudflare by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock worth $3,475,011,000 after acquiring an additional 538,850 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 34,270 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $200.17, for a total value of $6,859,825.90. Following the sale, the chief financial officer directly owned 241,550 shares in the company, valued at $48,351,063.50. The trade was a 12.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew Prince sold 536 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $194.84, for a total transaction of $104,434.24. Following the completion of the sale, the chief executive officer owned 20,111 shares in the company, valued at approximately $3,918,427.24. This trade represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 630,323 shares of company stock worth $118,661,105. 10.89% of the stock is owned by corporate insiders.

Cloudflare Stock Up 1.6%

NET opened at $195.9330 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $219.00. The firm's fifty day moving average is $193.75 and its 200 day moving average is $156.73. The stock has a market cap of $68.28 billion, a price-to-earnings ratio of -576.27 and a beta of 1.84.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The business had revenue of $512.32 million for the quarter, compared to analysts' expectations of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The business's quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company 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, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on NET. DZ Bank reiterated a "sell" rating and set a $170.00 price target on shares of Cloudflare in a research note on Tuesday, July 22nd. 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. Cowen reiterated a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. KeyCorp lifted their target price on shares of Cloudflare from $210.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Guggenheim lifted their target price on shares of Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

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