Rep. Robert Bresnahan, Jr. Sells Off Shares of Cloudflare, Inc. (NYSE:NET)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Cloudflare, Inc. NYSE: NET. In a filing disclosed on April 22nd, the Representative disclosed that they had sold between $1,001 and $15,000 in Cloudflare stock on April 4th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Reddit NYSE: RDDT on 4/4/2025.
• Purchased $1,001 - $15,000 in shares of Okta NASDAQ: OKTA on 4/4/2025.
• Sold $1,001 - $15,000 in shares of SanDisk NASDAQ: SNDK on 4/4/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 4/3/2025.
• Purchased $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Shopify NYSE: SHOP on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/2/2025.
• Purchased $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 4/1/2025.

Cloudflare Stock Performance

Shares of NET stock traded up $1.24 during midday trading on Tuesday, hitting $122.24. The company had a trading volume of 1,710,186 shares, compared to its average volume of 3,182,667. The company's 50 day simple moving average is $119.30 and its 200 day simple moving average is $115.91. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The stock has a market cap of $42.18 billion, a price-to-earnings ratio of -555.64 and a beta of 1.59. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Research analysts anticipate 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 recent analyst reports. Cantor Fitzgerald raised their price target on Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Wells Fargo & Company raised their price target on Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Oppenheimer initiated coverage on Cloudflare in a report on Thursday, March 20th. They issued an "outperform" rating and a $150.00 price target for the company. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and raised their price target for the company from $60.00 to $160.00 in a report on Tuesday, March 25th. Finally, Royal Bank of Canada reduced their price target on Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $134.84.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors have recently made changes to their positions in NET. Mather Group LLC. increased its stake in Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after purchasing an additional 202 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Cloudflare during the 1st quarter valued at about $27,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after acquiring an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after acquiring an additional 142 shares during the period. Finally, Global Financial Private Client LLC lifted its holdings in shares of Cloudflare by 38,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock worth $43,000 after acquiring an additional 381 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cloudflare

In related news, CEO Matthew Prince sold 2,311 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $107.75, for a total value of $249,010.25. Following the transaction, the chief executive officer now owns 413,413 shares in the company, valued at approximately $44,545,250.75. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 506,973 shares of company stock worth $65,761,303 in the last three months. Company insiders own 12.83% of the company's stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.