Alta Advisers Ltd Takes Position in Cloudflare, Inc. $NET

Alta Advisers Ltd bought a new stake in Cloudflare, Inc. (NYSE:NET) in the second quarter, Holdings Channel.com reports. The institutional investor bought 1,735 shares of the company’s stock, valued at approximately $340,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of 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 in the last quarter. Wealthedge Investment Advisors LLC lifted its holdings in shares of 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 in the last quarter. American Century Companies Inc. increased its stake in shares of Cloudflare by 34.5% in the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock worth $342,287,000 after acquiring an additional 779,819 shares during the last quarter. Independent Solutions Wealth Management LLC increased its stake in shares of Cloudflare by 293.3% in the second quarter. Independent Solutions Wealth Management LLC now owns 15,059 shares of the company’s stock worth $2,949,000 after acquiring an additional 11,230 shares during the last quarter. Finally, Castle Rock Wealth Management LLC increased its stake in shares of Cloudflare by 10.5% in the second quarter. Castle Rock Wealth Management LLC now owns 12,943 shares of the company’s stock worth $2,568,000 after acquiring an additional 1,229 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 3.2%

Cloudflare stock opened at $213.95 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The company has a market capitalization of $74.56 billion, a price-to-earnings ratio of -629.26 and a beta of 1.99. Cloudflare, Inc. has a one year low of $85.60 and a one year high of $230.10. The company’s fifty day moving average price is $211.99 and its two-hundred day moving average price is $175.17.

Cloudflare (NYSE:NET) last posted 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. The firm had revenue of $512.32 million for 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 quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the business 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, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $226.46, for a total transaction of $11,862,880.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 9,000 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $213.48, for a total transaction of $1,921,320.00. Following the sale, the insider owned 132,185 shares of the company’s stock, valued at $28,218,853.80. This trade represents a 6.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 673,534 shares of company stock valued at $137,405,454. 10.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NET shares. Needham & Company LLC upped their price target on shares of Cloudflare from $200.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Stifel Nicolaus upped their price target on shares of Cloudflare from $175.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Guggenheim upped their price target on shares of Cloudflare from $70.00 to $111.00 and gave the stock a “sell” rating in a research note on Friday, August 1st. Piper Sandler upped their price target on shares of Cloudflare from $151.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Finally, DZ Bank reaffirmed a “sell” rating and issued a $170.00 price target on shares of Cloudflare in a research note on Tuesday, July 22nd. One 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’s stock. Based on data from MarketBeat.com, Cloudflare has an average rating of “Moderate Buy” and an average price target of $196.54.

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.