Smartleaf Asset Management LLC Grows Stake in Cloudflare, Inc. $NET

Smartleaf Asset Management LLC raised its stake in Cloudflare, Inc. (NYSE:NET) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,320 shares of the company’s stock after purchasing an additional 77 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Cloudflare were worth $152,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Gill Capital Partners LLC raised its position in Cloudflare by 2.9% in the first quarter. Gill Capital Partners LLC now owns 2,761 shares of the company’s stock valued at $311,000 after purchasing an additional 79 shares during the period. Spire Wealth Management raised its position in Cloudflare by 11.0% in the first quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $108,000 after purchasing an additional 95 shares during the period. Yousif Capital Management LLC raised its position in Cloudflare by 2.5% in the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company’s stock valued at $447,000 after purchasing an additional 98 shares during the period. Freestone Capital Holdings LLC raised its position in Cloudflare by 1.9% in the first quarter. Freestone Capital Holdings LLC now owns 5,263 shares of the company’s stock valued at $593,000 after purchasing an additional 98 shares during the period. Finally, Ellevest Inc. raised its position in Cloudflare by 2.3% in the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock valued at $489,000 after purchasing an additional 102 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Up 3.4%

NYSE:NET opened at $205.24 on Thursday. The company has a market capitalization of $71.52 billion, a price-to-earnings ratio of -603.63 and a beta of 1.84. Cloudflare, Inc. has a one year low of $74.88 and a one year high of $219.00. The stock has a 50-day simple moving average of $194.93 and a 200 day simple moving average of $157.75. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current 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, 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 return on equity of 8.42% and a negative net margin of 6.22%.The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the firm earned $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. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 34,270 shares of Cloudflare stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $200.17, for a total value of $6,859,825.90. Following the completion of the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at approximately $48,351,063.50. This trade represents a 12.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas J. Seifert sold 59,130 shares of Cloudflare stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $200.30, for a total value of $11,843,739.00. Following the completion of the transaction, the chief financial officer owned 241,550 shares of the company’s stock, valued at $48,382,465. This trade represents a 19.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 731,705 shares of company stock valued at $138,296,322 over the last ninety days. 10.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NET has been the topic of a number of analyst reports. Needham & Company LLC lifted their target price on Cloudflare from $200.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 target price (up from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. DZ Bank reaffirmed a “sell” rating and set a $170.00 target price on shares of Cloudflare in a research report on Tuesday, July 22nd. Stifel Nicolaus lifted their target price on Cloudflare from $175.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, CICC Research raised Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 target price on the stock in a research report on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Cloudflare currently has an average rating of “Moderate Buy” and an average target price of $191.28.

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.