Highland Capital Management LLC Acquires 509 Shares of Cloudflare, Inc. $NET

Highland Capital Management LLC raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,050 shares of the company’s stock after acquiring an additional 509 shares during the quarter. Highland Capital Management LLC’s holdings in Cloudflare were worth $3,339,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NET. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cloudflare by 33.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock valued at $352,610,000 after acquiring an additional 786,063 shares during the period. Nuveen LLC bought a new stake in shares of Cloudflare in the first quarter worth about $88,203,000. American Century Companies Inc. increased its holdings 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 purchasing an additional 779,819 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of Cloudflare by 129.7% in the first quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company’s stock worth $123,647,000 after purchasing an additional 619,526 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Cloudflare by 1.8% in the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company’s stock worth $3,475,011,000 after purchasing an additional 538,850 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Down 3.4%

Shares of NYSE:NET opened at $216.95 on Friday. Cloudflare, Inc. has a 1 year low of $79.16 and a 1 year high of $230.10. The business has a 50 day simple moving average of $210.27 and a two-hundred day simple moving average of $171.81. The firm has a market capitalization of $75.60 billion, a PE ratio of -638.08 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 (NYSE:NET) last announced its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (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 business had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. 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 analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada lifted their target price on Cloudflare from $210.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Scotiabank lifted their target price on Cloudflare from $135.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Bank of America lifted their target price on Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cloudflare in a report on Saturday, September 27th. Finally, Wells Fargo & Company boosted their price objective on Cloudflare from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $191.28.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the completion of the transaction, the chief financial officer owned 241,550 shares in the company, valued at $48,382,465. The trade was a 19.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle Zatlyn sold 35,100 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $191.71, for a total value of $6,729,021.00. Following the transaction, the insider owned 14,575 shares of the company’s stock, valued at $2,794,173.25. This trade represents a 70.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 727,020 shares of company stock worth $146,028,939 over the last three months. 10.89% of the stock is currently owned by corporate insiders.

Cloudflare Company 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.