Grove Bank & Trust Buys Shares of 553 Cloudflare, Inc. $NET

Grove Bank & Trust bought a new stake in Cloudflare, Inc. (NYSE:NET) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 553 shares of the company’s stock, valued at approximately $108,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Cloudflare by 86.8% in the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company’s stock valued at $123,000 after purchasing an additional 508 shares during the last quarter. Wealthedge Investment Advisors LLC raised its position in Cloudflare by 64.5% in the first quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company’s stock valued at $1,367,000 after purchasing an additional 4,755 shares during the last quarter. American Century Companies Inc. raised its position 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 purchasing an additional 779,819 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in Cloudflare by 9.6% in the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company’s stock valued at $297,000 after purchasing an additional 230 shares during the last quarter. Finally, Amalgamated Bank raised its position in Cloudflare by 7.0% in the first quarter. Amalgamated Bank now owns 21,402 shares of the company’s stock valued at $2,412,000 after purchasing an additional 1,400 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Trading Up 1.3%

NYSE NET opened at $226.38 on Friday. The business has a 50 day simple moving average of $204.65 and a 200 day simple moving average of $164.68. Cloudflare, Inc. has a one year low of $77.80 and a one year high of $230.10. The stock has a market capitalization of $78.89 billion, a P/E ratio of -665.82 and a beta of 1.95. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14.

Cloudflare (NYSE:NET) last released its 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. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The business had revenue of $512.32 million during the quarter, compared to analysts’ expectations of $501.58 million. During the same quarter last year, the firm posted $0.20 earnings per share. The firm’s revenue 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. Research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Graham-Cumming sold 10,215 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $206.32, for a total value of $2,107,558.80. Following the completion of the sale, the director directly owned 495,191 shares of the company’s stock, valued at $102,167,807.12. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 665,738 shares of company stock valued at $131,968,542. Company insiders own 10.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NET. Bank of America increased their target price on Cloudflare from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 1st. JMP Securities increased their price target on 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 reissued a “sell” rating and issued a $170.00 price target on shares of Cloudflare in a research note on Tuesday, July 22nd. Oppenheimer reissued an “outperform” rating and issued a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Finally, Morgan Stanley increased their price target on Cloudflare from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $191.28.

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.