Wealthfront Advisers LLC Raises Stock Position in Cloudflare, Inc. $NET

Wealthfront Advisers LLC grew its stake in Cloudflare, Inc. (NYSE:NET) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,003 shares of the company’s stock after buying an additional 3,556 shares during the period. Wealthfront Advisers LLC’s holdings in Cloudflare were worth $6,071,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in Cloudflare by 86.8% in the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company’s stock valued at $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 valued at $1,367,000 after purchasing an additional 4,755 shares during the last quarter. American Century Companies Inc. boosted its position in shares of 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. Independent Solutions Wealth Management LLC grew its stake in Cloudflare by 293.3% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 15,059 shares of the company’s stock worth $2,949,000 after buying an additional 11,230 shares during the last quarter. Finally, Castle Rock Wealth Management LLC increased its position in Cloudflare by 10.5% during the second quarter. Castle Rock Wealth Management LLC now owns 12,943 shares of the company’s stock worth $2,568,000 after buying an additional 1,229 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on NET. UBS Group increased their price objective on Cloudflare from $215.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Mizuho increased their price target on shares of Cloudflare from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Cloudflare in a research note on Wednesday, October 8th. Citigroup upped their target price on shares of Cloudflare from $240.00 to $255.00 and gave the company a “buy” rating in a report on Monday, August 18th. Finally, Morgan Stanley raised their price target on Cloudflare from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.21.

Cloudflare Price Performance

Shares of NYSE:NET opened at $224.15 on Wednesday. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. The company has a market cap of $78.11 billion, a P/E ratio of -659.26 and a beta of 1.99. Cloudflare, Inc. has a 52 week low of $85.60 and a 52 week high of $230.10. The company has a 50-day moving average price of $215.13 and a 200 day moving average price of $184.71.

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 analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $512.32 million during 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 company’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. 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 earnings per share for the current year.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,277 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $213.94, for a total value of $11,184,141.38. Following the completion of the sale, the chief executive officer owned 107 shares in the company, valued at $22,891.58. This trade represents a 99.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Ledbetter sold 15,000 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $210.65, for a total transaction of $3,159,750.00. Following the transaction, the director owned 998,073 shares in the company, valued at $210,244,077.45. The trade was a 1.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 634,540 shares of company stock worth $132,159,157. 10.89% of the stock is currently owned by insiders.

About Cloudflare

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.