Wealth Enhancement Advisory Services LLC Raises Stake in Cloudflare, Inc. $NET

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Cloudflare by 11.7% during Q2, now owning 36,045 shares valued at approximately $6.89 million.
• Several large investors, including Vanguard Group Inc. and UBS Asset Management, have also raised their positions in Cloudflare, contributing to institutional ownership of 82.68%.
• Cloudflare's recent earnings report beat expectations, with a revenue increase of 27.8% year-over-year, and analysts have set an average price target of $191.28 for the stock.

Wealth Enhancement Advisory Services LLC raised its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 11.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,045 shares of the company's stock after purchasing an additional 3,777 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Cloudflare were worth $6,894,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Cloudflare by 1.8% during the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock valued at $3,475,011,000 after buying an additional 538,850 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cloudflare by 33.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock valued at $352,610,000 after buying an additional 786,063 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cloudflare by 34.5% during the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock valued at $342,287,000 after buying an additional 779,819 shares during the last quarter. Northern Trust Corp raised its position in shares of Cloudflare by 1.7% during the first quarter. Northern Trust Corp now owns 1,880,888 shares of the company's stock valued at $211,957,000 after buying an additional 31,745 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cloudflare by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company's stock valued at $148,887,000 after buying an additional 99,448 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Wall Street Analyst Weigh In

NET has been the topic of several recent analyst reports. Mizuho lifted their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Robert W. Baird boosted their price target on shares of Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Bank of America boosted their price target on shares of Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Morgan Stanley boosted their price objective on shares of Cloudflare from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Cantor Fitzgerald boosted their price objective on shares of Cloudflare from $162.00 to $199.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Insider Activity at Cloudflare

In other news, CFO Thomas J. Seifert sold 59,130 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the transaction, the chief financial officer owned 241,550 shares in the company, valued at $48,382,465. This represents a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $184.58, for a total transaction of $9,669,038.72. Following the completion of the transaction, the chief executive officer owned 381,213 shares in the company, valued at approximately $70,364,295.54. This trade represents a 12.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 690,738 shares of company stock worth $137,603,592. 10.89% of the stock is owned by insiders.

Cloudflare Stock Performance

NET stock opened at $223.49 on Wednesday. The firm has a market cap of $77.88 billion, a price-to-earnings ratio of -657.33 and a beta of 1.95. The firm has a 50-day simple moving average of $206.29 and a two-hundred day simple moving average of $166.18. Cloudflare, Inc. has a one year low of $77.80 and a one year high of $230.10. 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 (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The business had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The company's quarterly revenue was up 27.8% on a year-over-year basis. 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 forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal 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.

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