Cloudflare, Inc. $NET Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 13.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,003 shares of the company’s stock after buying an additional 3,556 shares during the quarter. Wealthfront Advisers LLC’s holdings in Cloudflare were worth $6,071,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NET. Mather Group LLC. increased its stake in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares in the last quarter. Hilltop National Bank acquired a new stake in Cloudflare during the 2nd quarter valued at $36,000. Ameritas Advisory Services LLC purchased a new position in Cloudflare during the second quarter worth $39,000. Cullen Frost Bankers Inc. acquired a new position in shares of Cloudflare in the second quarter worth $45,000. Finally, Whipplewood Advisors LLC lifted its position in shares of Cloudflare by 277.6% in the second quarter. Whipplewood Advisors LLC now owns 253 shares of the company’s stock valued at $50,000 after acquiring an additional 186 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Trading Down 0.4%

Shares of NET opened at $224.15 on Wednesday. Cloudflare, Inc. has a twelve month low of $85.60 and a twelve month high of $230.10. The firm has a market capitalization of $78.11 billion, a P/E ratio of -659.26 and a beta of 1.99. 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 stock’s fifty day simple moving average is $215.13 and its 200 day simple moving average is $184.71.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate 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 return on equity of 8.42% and a negative net margin of 6.22%.The firm’s revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm 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. On average, equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Activity

In related news, CEO Matthew Prince sold 52,277 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $213.94, for a total value of $11,184,141.38. Following the transaction, the chief executive officer owned 107 shares in the company, valued at approximately $22,891.58. This trade represents a 99.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Graham-Cumming sold 2,520 shares of Cloudflare stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $221.36, for a total transaction of $557,827.20. Following the transaction, the director directly owned 495,191 shares in the company, valued at approximately $109,615,479.76. This trade represents a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 634,540 shares of company stock worth $132,159,157. Insiders own 10.89% of the company’s stock.

Analysts Set New Price Targets

NET has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on Cloudflare from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Royal Bank Of Canada lifted their price target on shares of Cloudflare from $210.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Mizuho upped their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Morgan Stanley raised their target price on shares of Cloudflare from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Bank of America lifted their target price on shares of Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Moderate Buy” and an average price target of $198.21.

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.