Hummer Financial Advisory Services Inc Purchases New Stake in Cloudflare, Inc. $NET

Hummer Financial Advisory Services Inc purchased a new stake in Cloudflare, Inc. (NYSE:NET) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,650 shares of the company’s stock, valued at approximately $323,000.

Several other hedge funds have also bought and sold shares of the business. Smartleaf Asset Management LLC boosted its holdings in Cloudflare by 6.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company’s stock worth $152,000 after acquiring an additional 77 shares during the last quarter. Gill Capital Partners LLC boosted its holdings in Cloudflare by 2.9% during the 1st quarter. Gill Capital Partners LLC now owns 2,761 shares of the company’s stock worth $311,000 after acquiring an additional 79 shares during the last quarter. Spire Wealth Management boosted its holdings in Cloudflare by 11.0% during the 1st quarter. Spire Wealth Management now owns 962 shares of the company’s stock worth $108,000 after acquiring an additional 95 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Cloudflare by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company’s stock worth $447,000 after acquiring an additional 98 shares during the last quarter. Finally, Freestone Capital Holdings LLC boosted its holdings in Cloudflare by 1.9% during the 1st quarter. Freestone Capital Holdings LLC now owns 5,263 shares of the company’s stock worth $593,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Down 2.9%

Shares of NET opened at $219.54 on Wednesday. The firm has a market cap of $76.51 billion, a P/E ratio of -645.71 and a beta of 1.95. The stock has a 50 day simple moving average of $202.52 and a two-hundred day simple moving average of $163.19. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. Cloudflare, Inc. has a 1 year low of $77.60 and a 1 year high of $230.10.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Cloudflare’s revenue for the quarter 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, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 41,555 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $190.64, for a total value of $7,922,045.20. Following the completion of the sale, the chief financial officer owned 189,517 shares in the company, valued at approximately $36,129,520.88. The trade was a 17.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Graham-Cumming sold 10,215 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $206.32, for a total value of $2,107,558.80. Following the completion of the sale, the director owned 495,191 shares of the company’s stock, valued at $102,167,807.12. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 675,738 shares of company stock valued at $133,776,142. Insiders own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. DZ Bank reaffirmed a “sell” rating and set a $170.00 price objective on shares of Cloudflare in a report on Tuesday, July 22nd. Piper Sandler lifted their target price on Cloudflare from $151.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Cantor Fitzgerald lifted their target price on Cloudflare from $162.00 to $199.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Robert W. Baird lifted their target price on Cloudflare from $148.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Finally, Needham & Company LLC boosted their price objective on Cloudflare from $200.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $191.28.

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.