Abacus Planning Group Inc. Buys New Position in Cloudflare, Inc. $NET

Abacus Planning Group Inc. bought a new stake in Cloudflare, Inc. (NYSE:NET) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,657 shares of the company’s stock, valued at approximately $324,000.

A number of other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in Cloudflare by 86.8% in the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company’s stock worth $123,000 after acquiring an additional 508 shares in the last quarter. Wealthedge Investment Advisors LLC lifted its holdings in shares of Cloudflare by 64.5% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company’s stock worth $1,367,000 after purchasing an additional 4,755 shares in the last quarter. American Century Companies Inc. grew its position in Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock valued at $342,287,000 after purchasing an additional 779,819 shares during the period. Generate Investment Management Ltd acquired a new stake in Cloudflare in the 2nd quarter valued at $4,953,000. Finally, Crossmark Global Holdings Inc. increased its stake in Cloudflare by 9.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company’s stock valued at $297,000 after purchasing an additional 230 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of analyst reports. Cowen reaffirmed a “buy” rating on shares of Cloudflare in a report on Monday, June 16th. Guggenheim raised their price target on shares of Cloudflare from $70.00 to $111.00 and gave the company a “sell” rating in a research report on Friday, August 1st. Stifel Nicolaus upped their price objective on shares of Cloudflare from $175.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Citigroup increased their price objective on shares of Cloudflare from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Finally, Royal Bank Of Canada lifted their target price on shares of Cloudflare from $210.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $191.28.

Cloudflare Stock Down 3.4%

Cloudflare stock opened at $216.95 on Friday. The firm has a 50 day simple moving average of $210.27 and a 200 day simple moving average of $171.44. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 1-year low of $79.16 and a 1-year high of $230.10. The firm has a market capitalization of $75.60 billion, a price-to-earnings ratio of -638.08 and a beta of 1.99.

Cloudflare (NYSE:NET) last posted 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. The firm had revenue of $512.32 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $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, analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 59,130 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $200.30, for a total value of $11,843,739.00. Following the completion of the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at approximately $48,382,465. This trade represents a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 34,270 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the transaction, the chief financial officer directly owned 241,550 shares of the company’s stock, valued at approximately $48,351,063.50. This represents a 12.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 727,020 shares of company stock worth $146,028,939 in the last 90 days. 10.89% of the stock is owned by company 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.