Cloudflare, Inc. $NET Shares Acquired by Grandview Asset Management LLC

Grandview Asset Management LLC lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,356 shares of the company’s stock after buying an additional 150 shares during the period. Cloudflare makes up approximately 0.8% of Grandview Asset Management LLC’s holdings, making the stock its 27th largest position. Grandview Asset Management LLC’s holdings in Cloudflare were worth $2,616,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its stake in shares of Cloudflare by 7.0% in the 4th quarter. Toronto Dominion Bank now owns 39,763 shares of the company’s stock worth $4,282,000 after acquiring an additional 2,605 shares during the period. Mackenzie Financial Corp lifted its position in Cloudflare by 2.5% in the fourth quarter. Mackenzie Financial Corp now owns 14,641 shares of the company’s stock valued at $1,577,000 after purchasing an additional 357 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Cloudflare in the fourth quarter valued at about $273,000. Centaurus Financial Inc. acquired a new stake in Cloudflare in the fourth quarter valued at about $129,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Cloudflare by 22.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,652 shares of the company’s stock valued at $3,301,000 after buying an additional 5,638 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NET has been the subject of several recent analyst reports. JMP Securities raised their price objective 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. DZ Bank reiterated a “sell” rating and set a $170.00 price target on shares of Cloudflare in a research report on Tuesday, July 22nd. Needham & Company LLC lifted their price target on shares of Cloudflare from $200.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Bank of America lifted their price objective on Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Robert W. Baird lifted their price target on Cloudflare from $148.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare presently has an average rating of “Moderate Buy” and an average target price of $191.28.

Cloudflare Trading Down 0.7%

Shares of NET stock opened at $216.60 on Friday. The firm has a 50-day moving average price of $207.78 and a 200 day moving average price of $168.24. Cloudflare, Inc. has a twelve month low of $77.80 and a twelve month high of $230.10. The company has a market capitalization of $75.48 billion, a price-to-earnings ratio of -637.06 and a beta of 1.95. 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 announced its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the company 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 forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $184.58, for a total value of $9,669,038.72. Following the completion of the transaction, the chief executive officer directly owned 381,213 shares in the company, valued at approximately $70,364,295.54. This represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michelle Zatlyn sold 35,100 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the transaction, the insider directly owned 14,575 shares of the company’s stock, valued at approximately $2,794,173.25. This represents a 70.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 742,020 shares of company stock valued at $148,781,529. 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.