1,657 Shares in Cloudflare, Inc. $NET Purchased by Abacus Planning Group Inc.

Abacus Planning Group Inc. purchased a new stake in Cloudflare, Inc. (NYSE:NET) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,657 shares of the company’s stock, valued at approximately $324,000.

A number of other large investors have also recently modified their holdings of NET. Vanguard Group Inc. raised its stake in Cloudflare by 1.8% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Cloudflare by 33.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock worth $352,610,000 after buying an additional 786,063 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cloudflare by 34.5% during the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock valued at $342,287,000 after buying an additional 779,819 shares in the last quarter. 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 valued at $211,957,000 after buying an additional 31,745 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cloudflare by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company’s stock worth $148,887,000 after acquiring an additional 99,448 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In other Cloudflare news, 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 transaction of $5,448,456.09. Following the completion of the transaction, the insider owned 14,575 shares of the company’s stock, valued at $3,097,041.75. This represents a 63.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $226.46, for a total value of $11,862,880.64. The disclosure for this sale can be found here. Insiders sold a total of 727,020 shares of company stock valued at $146,028,939 in the last quarter. 10.89% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NET has been the topic of a number of research analyst reports. DZ Bank reissued a “sell” rating and issued a $170.00 target price on shares of Cloudflare in a research note on Tuesday, July 22nd. JMP Securities raised their price objective on Cloudflare from $180.00 to $225.00 and gave the company a “market outperform” rating in a report on Monday, July 28th. Royal Bank Of Canada upped their target price on Cloudflare from $210.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Mizuho increased their price target on shares of Cloudflare from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, Bank of America boosted their price objective on shares of Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $191.28.

Cloudflare Stock Performance

NYSE:NET opened at $216.95 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. Cloudflare, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $230.10. The firm has a market cap of $75.60 billion, a PE ratio of -638.08 and a beta of 1.99. The business has a 50 day moving average price of $210.27 and a 200-day moving average price of $171.44.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The company had revenue of $512.32 million during the quarter, compared to analyst estimates 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 was up 27.8% compared to the same quarter last year. 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. Equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

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.