Wealth Management Partners LLC Acquires 1,168 Shares of Cloudflare, Inc. $NET

Key Points

• Wealth Management Partners LLC increased its stake in Cloudflare, Inc. by 27.4%, acquiring an additional 1,168 shares, bringing its total holdings to 5,427 shares, valued at approximately $1,047,000.
• Several brokerages have recently raised their price targets for Cloudflare, with Citigroup increasing its target from $240 to $255 and maintaining a "buy" rating, while others also issued similar bullish ratings.
• Insider trading activity included CEO Matthew Prince selling over 52,000 shares worth nearly $9.7 million, marking a significant decrease in his ownership, alongside other significant insider sales.

Wealth Management Partners LLC boosted its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 27.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,427 shares of the company's stock after purchasing an additional 1,168 shares during the quarter. Wealth Management Partners LLC's holdings in Cloudflare were worth $1,047,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in shares of Cloudflare by 6.2% during the first quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company's stock valued at $152,000 after buying an additional 77 shares during the last quarter. Gill Capital Partners LLC boosted its position in shares of Cloudflare by 2.9% during the first quarter. Gill Capital Partners LLC now owns 2,761 shares of the company's stock valued at $311,000 after buying an additional 79 shares during the last quarter. Spire Wealth Management boosted its position in shares of Cloudflare by 11.0% during the first quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $108,000 after buying an additional 95 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of Cloudflare by 2.5% during the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock valued at $447,000 after buying an additional 98 shares during the last quarter. Finally, Freestone Capital Holdings LLC boosted its position in shares of Cloudflare by 1.9% during the first quarter. Freestone Capital Holdings LLC now owns 5,263 shares of the company's stock valued at $593,000 after buying an additional 98 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NET. Cowen reaffirmed a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. Citigroup boosted their price objective on Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Bank of America boosted their price objective on Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Needham & Company LLC boosted their price objective on Cloudflare from $200.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Scotiabank boosted their price objective on Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $191.28.

Cloudflare Stock Performance

NYSE:NET opened at $226.38 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 52-week low of $77.80 and a 52-week high of $230.10. The firm has a market cap of $78.89 billion, a price-to-earnings ratio of -665.82 and a beta of 1.95. The business's fifty day moving average is $204.65 and its 200 day moving average is $164.83.

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 analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The company had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. During the same period in the previous year, the company posted $0.20 EPS. The firm's revenue for the quarter was up 27.8% compared to the same quarter last year. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. Research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $184.58, for a total value of $9,669,038.72. Following the transaction, the chief executive officer directly owned 381,213 shares in the company, valued at $70,364,295.54. This represents a 12.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 35,100 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $191.71, for a total value of $6,729,021.00. Following the completion of the transaction, the insider owned 14,575 shares in the company, valued at $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. Insiders have sold 665,738 shares of company stock valued at $131,968,542 over the last 90 days. 10.89% of the stock is owned by insiders.

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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