Cloudflare, Inc. $NET Shares Bought by US Bancorp DE

US Bancorp DE boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 2.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 33,761 shares of the company’s stock after buying an additional 718 shares during the quarter. US Bancorp DE’s holdings in Cloudflare were worth $6,611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. increased its stake in Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares during the last quarter. NBC Securities Inc. acquired a new stake in Cloudflare during the first quarter worth $27,000. GPS Wealth Strategies Group LLC increased its stake in Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock worth $29,000 after acquiring an additional 175 shares during the last quarter. Hilltop National Bank acquired a new stake in Cloudflare during the second quarter worth $36,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Cloudflare during the second quarter worth $39,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Stifel Nicolaus raised their target price on Cloudflare from $175.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Wells Fargo & Company lifted their price objective on Cloudflare from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. JMP Securities lifted their price objective on Cloudflare from $180.00 to $225.00 and gave the company a “market outperform” rating in a research note on Monday, July 28th. UBS Group lifted their price objective on Cloudflare from $145.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, Cowen reaffirmed a “buy” rating on shares of Cloudflare in a research note on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.54.

Cloudflare Trading Down 3.2%

NYSE:NET opened at $213.95 on Monday. The firm has a market cap of $74.56 billion, a PE ratio of -629.26 and a beta of 1.99. The stock has a fifty day moving average price of $211.99 and a 200 day moving average price of $175.57. Cloudflare, Inc. has a 12-month low of $85.60 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 released its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The firm had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.Cloudflare’s revenue was up 27.8% compared to the same quarter last year. During the same period last 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. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 9,000 shares of Cloudflare stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $213.48, for a total transaction of $1,921,320.00. Following the completion of the sale, the insider directly owned 132,185 shares of the company’s stock, valued at $28,218,853.80. The trade was a 6.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $223.91, for a total value of $3,358,650.00. Following the sale, the director directly owned 1,013,073 shares of the company’s stock, valued at $226,837,175.43. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 673,534 shares of company stock worth $137,405,454 over the last three months. Company insiders own 10.89% of the company’s stock.

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.