US Bancorp DE Raises Holdings in Cloudflare, Inc. $NET

US Bancorp DE lifted its stake in Cloudflare, Inc. (NYSE:NET) by 2.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,761 shares of the company’s stock after buying an additional 718 shares during the quarter. US Bancorp DE’s holdings in Cloudflare were worth $6,611,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NET. NBC Securities Inc. purchased a new stake in shares of Cloudflare in the first quarter worth about $27,000. Yousif Capital Management LLC boosted its position in Cloudflare by 2.5% during the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company’s stock worth $447,000 after purchasing an additional 98 shares in the last quarter. GAMMA Investing LLC boosted its position in Cloudflare by 86.8% during the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company’s stock worth $123,000 after purchasing an additional 508 shares in the last quarter. SG Americas Securities LLC boosted its position in Cloudflare by 62.4% during the first quarter. SG Americas Securities LLC now owns 15,695 shares of the company’s stock worth $1,769,000 after purchasing an additional 6,030 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Cloudflare by 35.1% during the first quarter. Assenagon Asset Management S.A. now owns 6,458 shares of the company’s stock worth $728,000 after purchasing an additional 1,677 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $227.64, for a total value of $2,276,400.00. Following the completion of the sale, the chief financial officer owned 189,517 shares of the company’s stock, valued at approximately $43,141,649.88. This trade represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $215.38, for a total value of $5,522,558.58. Following the completion of the sale, the insider directly owned 14,575 shares of the company’s stock, valued at approximately $3,139,163.50. This represents a 63.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 673,534 shares of company stock valued at $137,405,454. 10.89% of the stock is currently owned by company insiders.

Cloudflare Stock Performance

NYSE NET opened at $213.95 on Monday. The company has a market cap of $74.56 billion, a PE ratio of -629.26 and a beta of 1.99. The stock’s 50 day simple moving average is $211.99 and its 200-day simple moving average is $175.57. Cloudflare, Inc. has a 1-year low of $85.60 and a 1-year high of $230.10. 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 posted its quarterly earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating 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 firm 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 earned $0.20 earnings per share. 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, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NET. Cowen reiterated a “buy” rating on shares of Cloudflare in a research report on Monday, June 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, October 8th. Bank of America increased their price target on Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Citigroup increased their price target on Cloudflare from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. Finally, Morgan Stanley raised their target price on Cloudflare from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. One 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. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Moderate Buy” and an average price target of $196.54.

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.