Mutual Advisors LLC Raises Position in Cloudflare, Inc. $NET

Mutual Advisors LLC boosted its stake in Cloudflare, Inc. (NYSE:NET) by 8.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,819 shares of the company’s stock after buying an additional 145 shares during the quarter. Mutual Advisors LLC’s holdings in Cloudflare were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Generali Asset Management SPA SGR lifted its stake in Cloudflare by 1.2% in the 2nd quarter. Generali Asset Management SPA SGR now owns 11,117 shares of the company’s stock valued at $2,177,000 after buying an additional 128 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Cloudflare in the 2nd quarter valued at about $232,000. Harbour Investments Inc. raised its holdings in Cloudflare by 4.1% in the 2nd quarter. Harbour Investments Inc. now owns 2,479 shares of the company’s stock valued at $485,000 after acquiring an additional 98 shares during the last quarter. Sagespring Wealth Partners LLC raised its holdings in Cloudflare by 13.3% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 2,974 shares of the company’s stock valued at $582,000 after acquiring an additional 350 shares during the last quarter. Finally, RFG Advisory LLC raised its holdings in Cloudflare by 15.5% in the 2nd quarter. RFG Advisory LLC now owns 19,609 shares of the company’s stock valued at $3,840,000 after acquiring an additional 2,637 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Up 1.3%

Shares of NYSE NET opened at $212.80 on Tuesday. The company has a 50 day simple moving average of $212.89 and a 200-day simple moving average of $179.93. The company has a market capitalization of $74.16 billion, a P/E ratio of -625.87 and a beta of 1.99. 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, Inc. has a 1 year low of $85.60 and a 1 year high of $230.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business 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 business’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm earned $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. On average, equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America increased their price objective on shares of Cloudflare from $235.00 to $240.00 and gave the company a “buy” rating in a report on Friday, August 1st. Mizuho increased their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, October 8th. KeyCorp increased their price objective on shares of Cloudflare from $210.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Robert W. Baird increased their price objective on shares of Cloudflare from $148.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.54.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $200.43, for a total transaction of $10,499,325.12. Following the completion of the transaction, the chief executive officer owned 20,111 shares of the company’s stock, valued at approximately $4,030,847.73. This trade represents a 72.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 35,100 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was 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 $2,794,173.25. The trade was a 70.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 710,270 shares of company stock valued at $147,320,646. Company 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.