Cornerstone Enterprises LLC Buys New Position in Cloudflare, Inc. $NET

Cornerstone Enterprises LLC bought a new stake in Cloudflare, Inc. (NYSE:NET) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,040 shares of the company’s stock, valued at approximately $791,000. Cloudflare accounts for about 0.4% of Cornerstone Enterprises LLC’s investment portfolio, making the stock its 22nd biggest position.

A number of other large investors have also recently made changes to their positions in NET. NBC Securities Inc. acquired a new stake in shares of Cloudflare in the 1st quarter valued at about $27,000. Merit Financial Group LLC acquired a new stake in shares of Cloudflare in the 1st quarter valued at about $277,000. Miracle Mile Advisors LLC boosted its position in shares of Cloudflare by 26.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 5,057 shares of the company’s stock valued at $570,000 after purchasing an additional 1,068 shares during the period. Park Avenue Securities LLC boosted its position in shares of Cloudflare by 5.7% in the 1st quarter. Park Avenue Securities LLC now owns 10,652 shares of the company’s stock valued at $1,200,000 after purchasing an additional 578 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Cloudflare by 2.5% during the 1st quarter. Farther Finance Advisors LLC now owns 12,114 shares of the company’s stock valued at $1,401,000 after acquiring an additional 291 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on NET shares. Robert W. Baird upped their price objective on Cloudflare from $148.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Bank of America upped their price objective on Cloudflare from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Stifel Nicolaus upped their price objective on Cloudflare from $175.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Cowen reaffirmed a “buy” rating on shares of Cloudflare in a research note on Monday, June 16th. Finally, DZ Bank reaffirmed a “sell” rating and set a $170.00 price objective on shares of Cloudflare in a research note on Tuesday, July 22nd. One research 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 given a Sell rating to the company’s stock. According to MarketBeat, Cloudflare currently has an average rating of “Moderate Buy” and a consensus price target of $196.54.

Cloudflare Stock Performance

Shares of NET stock opened at $220.02 on Thursday. The company has a market cap of $76.67 billion, a price-to-earnings ratio of -647.12 and a beta of 1.99. The stock has a 50 day simple moving average of $211.46 and a 200-day simple moving average of $173.54. Cloudflare, Inc. has a 12-month low of $81.63 and a 12-month high of $230.10. 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 (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. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $227.64, for a total value of $2,276,400.00. Following the sale, the chief financial officer owned 189,517 shares in the company, valued at $43,141,649.88. This represents a 5.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $212.49, for a total value of $5,448,456.09. Following the completion of the sale, the insider owned 14,575 shares in the company, valued at approximately $3,097,041.75. This represents a 63.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 622,252 shares of company stock worth $126,288,029. 10.89% of the stock is owned by insiders.

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.