Resonant Capital Advisors LLC Buys Shares of 1,168 Cloudflare, Inc. $NET

Resonant Capital Advisors LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,168 shares of the company’s stock, valued at approximately $229,000.

A number of other large investors have also modified their holdings of NET. Vanguard Group Inc. boosted its stake in Cloudflare by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company’s stock valued at $3,475,011,000 after purchasing an additional 538,850 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of 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 buying an additional 786,063 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Cloudflare by 34.5% during the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock worth $342,287,000 after buying an additional 779,819 shares during the period. Northern Trust Corp boosted its position in shares of Cloudflare by 1.7% during the first quarter. Northern Trust Corp now owns 1,880,888 shares of the company’s stock worth $211,957,000 after buying an additional 31,745 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cloudflare by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company’s stock worth $148,887,000 after buying an additional 99,448 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE NET opened at $224.15 on Wednesday. Cloudflare, Inc. has a twelve month low of $85.60 and a twelve month high of $230.10. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The firm has a 50-day moving average of $215.13 and a two-hundred day moving average of $184.71. The company has a market capitalization of $78.11 billion, a price-to-earnings ratio of -659.26 and a beta of 1.99.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company had revenue of $512.32 million for the quarter, compared to analysts’ expectations of $501.58 million. During the same quarter in the previous year, the company posted $0.20 EPS. The business’s revenue 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. As a group, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NET. Robert W. Baird lifted their target price on Cloudflare from $148.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Morgan Stanley upped their price objective on shares of Cloudflare from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Stifel Nicolaus increased their target price on shares of Cloudflare from $175.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 1st. DZ Bank restated a “sell” rating and set a $170.00 price target on shares of Cloudflare in a research report on Tuesday, July 22nd. Finally, JMP Securities upped their price target on shares of Cloudflare from $180.00 to $225.00 and gave the stock a “market outperform” rating in a research note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.21.

Insider Buying and Selling at Cloudflare

In other news, insider Michelle Zatlyn sold 35,100 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $217.12, for a total value of $11,373,614.08. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 634,540 shares of company stock valued at $132,159,157. Corporate 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.