Estate Counselors LLC Invests $3.16 Million in Cloudflare, Inc. $NET

Estate Counselors LLC bought a new position in Cloudflare, Inc. (NYSE:NET) in the 1st quarter, HoldingsChannel reports. The fund bought 28,025 shares of the company’s stock, valued at approximately $3,158,000.

Several other institutional investors and hedge funds have also made changes to their positions in NET. Vanguard Group Inc. increased its stake in Cloudflare by 1.8% during the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company’s stock valued at $3,475,011,000 after purchasing an additional 538,850 shares during the last quarter. American Century Companies Inc. boosted its stake in Cloudflare by 34.5% in the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock valued at $342,287,000 after acquiring an additional 779,819 shares during the period. Northern Trust Corp raised its position in shares of Cloudflare by 1.7% during the 1st quarter. Northern Trust Corp now owns 1,880,888 shares of the company’s stock worth $211,957,000 after purchasing an additional 31,745 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cloudflare by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company’s stock worth $148,887,000 after purchasing an additional 99,448 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in Cloudflare by 129.7% during the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company’s stock valued at $123,647,000 after purchasing an additional 619,526 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Price Performance

Shares of NYSE NET opened at $192.9230 on Thursday. Cloudflare, Inc. has a twelve month low of $74.88 and a twelve month high of $219.00. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The firm has a 50-day moving average of $192.82 and a two-hundred day moving average of $155.96. The company has a market capitalization of $67.23 billion, a price-to-earnings ratio of -567.42 and a beta of 1.84.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $512.32 million for the quarter, compared to the consensus estimate of $501.58 million. During the same period in the previous year, the firm earned $0.20 EPS. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. 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, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NET. Mizuho upped their price target on shares of Cloudflare from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Oppenheimer reissued an “outperform” rating and issued a $200.00 price objective (up from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. DZ Bank reaffirmed a “sell” rating and set a $170.00 target price on shares of Cloudflare in a research note on Tuesday, July 22nd. KeyCorp lifted their price objective on shares of Cloudflare from $210.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company increased their target price on shares of Cloudflare from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $191.28.

Insider Activity at Cloudflare

In related news, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $199.85, for a total value of $2,997,750.00. Following the completion of the transaction, the director owned 1,043,073 shares in the company, valued at $208,458,139.05. This trade represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 59,130 shares of Cloudflare stock in a transaction dated Monday, July 28th. The stock was 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 $48,382,465. This represents a 19.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 588,768 shares of company stock valued at $110,739,060 over the last ninety days. Company insiders own 10.89% of the company’s stock.

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.