Institute for Wealth Management LLC. Lowers Stock Position in Cloudflare, Inc. $NET

Institute for Wealth Management LLC. lowered its position in Cloudflare, Inc. (NYSE:NET) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,098 shares of the company’s stock after selling 583 shares during the period. Institute for Wealth Management LLC.’s holdings in Cloudflare were worth $1,390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised 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 during the last quarter. Wealthedge Investment Advisors LLC increased its holdings in Cloudflare by 64.5% during the first quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company’s stock worth $1,367,000 after buying an additional 4,755 shares during the last quarter. American Century Companies Inc. increased its holdings in 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 last quarter. Generate Investment Management Ltd purchased a new stake in Cloudflare during the second quarter worth about $4,953,000. Finally, Crossmark Global Holdings Inc. increased its holdings in Cloudflare by 9.6% during the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company’s stock worth $297,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Activity

In other news, insider Michelle Zatlyn sold 35,100 shares of the firm’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 completion of the transaction, the insider directly owned 14,575 shares in the company, valued at approximately $2,794,173.25. This trade represents a 70.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $184.58, for a total transaction of $9,669,038.72. Following the completion of the transaction, the chief executive officer owned 381,213 shares of the company’s stock, valued at $70,364,295.54. This trade represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 718,020 shares of company stock valued at $144,107,619 over the last ninety days. 10.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NET shares. Oppenheimer restated an “outperform” rating and set a $200.00 price objective (up previously from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Piper Sandler raised their price objective on shares of Cloudflare from $151.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Mizuho raised their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Robert W. Baird raised their price objective on shares of Cloudflare from $148.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Finally, Bank of America increased their target price on shares of Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a research report 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 three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.28.

Cloudflare Price Performance

NET stock opened at $214.45 on Wednesday. The firm has a 50 day moving average of $208.67 and a 200-day moving average of $169.65. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 12 month low of $77.80 and a 12 month high of $230.10. The firm has a market capitalization of $74.73 billion, a P/E ratio of -630.74 and a beta of 1.95.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $501.58 million. During the same period last year, the business earned $0.20 earnings per share. Cloudflare’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, sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.