Vestmark Advisory Solutions Inc. Boosts Stake in Cloudflare, Inc. $NET

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Cloudflare, Inc. by 67.7%, owning a total of 6,964 shares valued at $785,000.
• Cloudflare's stock experienced significant trading volume, with shares hitting $192.92, and the company reported a revenue increase of 27.8% year-over-year for the last quarter.
• Insiders sold a total of 588,768 shares valued at approximately $110.74 million over the last quarter, with CFO Thomas J. Seifert and CEO Matthew Prince reducing their holdings.

Vestmark Advisory Solutions Inc. grew its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 67.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,964 shares of the company's stock after purchasing an additional 2,812 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Cloudflare were worth $785,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Cloudflare by 86.8% during the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock worth $123,000 after purchasing an additional 508 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Cloudflare by 9.6% during the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock worth $297,000 after purchasing an additional 230 shares during the last quarter. Amalgamated Bank lifted its stake in Cloudflare by 7.0% during the first quarter. Amalgamated Bank now owns 21,402 shares of the company's stock worth $2,412,000 after purchasing an additional 1,400 shares during the last quarter. Wellington Management Group LLP lifted its stake in Cloudflare by 47.0% during the fourth quarter. Wellington Management Group LLP now owns 5,930 shares of the company's stock worth $639,000 after purchasing an additional 1,896 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake in Cloudflare by 2.5% during the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock worth $447,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Up 1.9%

NET stock traded up $3.6820 during midday trading on Friday, hitting $196.4520. The company's stock had a trading volume of 937,495 shares, compared to its average volume of 3,606,444. The company has a market cap of $68.46 billion, a PE ratio of -577.84 and a beta of 1.84. Cloudflare, Inc. has a 12 month low of $74.88 and a 12 month high of $219.00. 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's 50-day moving average is $193.27 and its 200-day moving average is $156.34.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The firm's quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm posted $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 fiscal year.

Analyst Ratings Changes

NET has been the subject of several research analyst reports. CICC Research raised 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. Needham & Company LLC boosted their target price on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Oppenheimer reissued an "outperform" rating and issued a $200.00 target price (up previously from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Robert W. Baird boosted their target price on Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Finally, Jefferies Financial Group lowered their price target on Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, May 9th. One 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 assigned a Sell rating to the company. According to MarketBeat.com, Cloudflare has a consensus rating of "Moderate Buy" and a consensus target price of $191.28.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 59,130 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $200.30, for a total value of $11,843,739.00. Following the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $48,382,465. This trade represents a 19.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $65,282,726.25. This trade represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 630,323 shares of company stock valued at $118,661,105. Corporate insiders own 10.89% of the company's stock.

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.