Cloudflare, Inc. $NET Shares Sold by Vident Advisory LLC

Key Points

• Vident Advisory LLC reduced its stake in Cloudflare by 32.3%, selling 8,922 shares and retaining 18,669 shares, worth approximately $2,104,000.
• Insider sales have been significant, with Michelle Zatlyn and CFO Thomas J. Seifert selling a combined 67,196 shares, indicating a trend in insider activity that might affect investor sentiment.
• Analysts have increased their target prices for Cloudflare, with Royal Bank of Canada raising it from $210.00 to $228.00, contributing to an overall "Moderate Buy" consensus rating.

Vident Advisory LLC decreased its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 32.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,669 shares of the company's stock after selling 8,922 shares during the quarter. Vident Advisory LLC's holdings in Cloudflare were worth $2,104,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its holdings in Cloudflare by 6.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company's stock worth $152,000 after purchasing an additional 77 shares during the period. Gill Capital Partners LLC raised its holdings in Cloudflare by 2.9% in the 1st quarter. Gill Capital Partners LLC now owns 2,761 shares of the company's stock worth $311,000 after purchasing an additional 79 shares during the period. Spire Wealth Management raised its holdings in Cloudflare by 11.0% in the 1st quarter. Spire Wealth Management now owns 962 shares of the company's stock worth $108,000 after purchasing an additional 95 shares during the period. Yousif Capital Management LLC raised its holdings in Cloudflare by 2.5% in the 1st 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 period. Finally, Freestone Capital Holdings LLC raised its holdings in Cloudflare by 1.9% in the 1st quarter. Freestone Capital Holdings LLC now owns 5,263 shares of the company's stock worth $593,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Insiders Place Their Bets

In other news, insider Michelle Zatlyn sold 25,641 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $195.61, for a total value of $5,015,636.01. Following the completion of the sale, the insider directly owned 14,575 shares in the company, valued at $2,851,015.75. This represents a 63.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Ledbetter sold 15,000 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $195.73, for a total value of $2,935,950.00. Following the completion of the sale, the director owned 1,028,073 shares of the company's stock, valued at $201,224,728.29. This trade represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 687,029 shares of company stock valued at $130,970,115. Insiders own 10.89% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NET shares. Robert W. Baird upped their price target on Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Scotiabank boosted their price objective on Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Piper Sandler boosted their price objective on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. UBS Group boosted their price objective on Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, DZ Bank reiterated a "sell" rating and set a $170.00 price objective on shares of Cloudflare in a research note on Tuesday, July 22nd. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $191.28.

Cloudflare Price Performance

Shares of NET stock traded up $4.46 during trading hours on Friday, reaching $214.44. The company had a trading volume of 1,637,814 shares, compared to its average volume of 2,023,540. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The stock has a fifty day moving average of $198.18 and a 200-day moving average of $159.58. The company has a market capitalization of $74.73 billion, a price-to-earnings ratio of -630.71 and a beta of 1.95. Cloudflare, Inc. has a 12-month low of $74.88 and a 12-month high of $219.00.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%.The business's revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business earned $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. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Cloudflare 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.