Quent Capital LLC Sells 86 Shares of Cloudflare, Inc. $NET

Quent Capital LLC lowered its holdings in Cloudflare, Inc. (NYSE:NET) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,946 shares of the company’s stock after selling 86 shares during the quarter. Quent Capital LLC’s holdings in Cloudflare were worth $381,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Mather Group LLC. raised its stake in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Cloudflare during the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC raised its stake 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 in the last quarter. Hilltop National Bank bought a new position in shares of Cloudflare during the 2nd quarter worth approximately $36,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Cloudflare during the 2nd quarter worth approximately $39,000. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NET. Stifel Nicolaus boosted their price objective on shares of Cloudflare from $175.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Piper Sandler boosted their price objective on shares of Cloudflare from $151.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Bank of America boosted their price objective on shares of Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Robert W. Baird upped their price target on shares of Cloudflare from $148.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, JMP Securities upped their price target on shares of Cloudflare from $180.00 to $225.00 and gave the company a “market outperform” rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Cloudflare presently has an average rating of “Hold” and an average price target of $191.28.

Cloudflare Stock Down 3.4%

NET stock opened at $216.95 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The firm’s fifty day simple moving average is $210.27 and its 200-day simple moving average is $171.81. Cloudflare, Inc. has a 12 month low of $79.16 and a 12 month high of $230.10. The company has a market capitalization of $75.60 billion, a P/E ratio of -638.08 and a beta of 1.99.

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 net margin of 6.22% and a negative return on equity of 8.42%. The firm had revenue of $512.32 million during the quarter, compared to analysts’ expectations of $501.58 million. During the same quarter last year, the company posted $0.20 earnings per share. The firm’s revenue 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. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Thursday, July 10th. The shares were 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 of the company’s stock, valued at $70,364,295.54. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 34,270 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was 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 trade represents a 12.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 727,020 shares of company stock worth $146,028,939. 10.89% of the stock is currently 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.