Reliant Investment Partners LLC Buys Shares of 3,266 Cloudflare, Inc. $NET

Reliant Investment Partners LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,266 shares of the company’s stock, valued at approximately $640,000.

Other institutional investors also recently made changes to their positions in the company. Mather Group LLC. increased its stake in shares of Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company’s stock valued at $25,000 after acquiring an additional 202 shares during the period. Hilltop National Bank bought a new position in Cloudflare during the 2nd quarter valued at $36,000. Ameritas Advisory Services LLC acquired a new position in shares of Cloudflare during the 2nd quarter valued at $39,000. Cullen Frost Bankers Inc. acquired a new position in shares of Cloudflare during the 2nd quarter valued at $45,000. Finally, Whipplewood Advisors LLC raised its stake in shares of Cloudflare by 277.6% in the 2nd quarter. Whipplewood Advisors LLC now owns 253 shares of the company’s stock worth $50,000 after buying an additional 186 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Price Performance

NYSE NET opened at $225.30 on Tuesday. 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 1 year low of $85.60 and a 1 year high of $230.10. The company has a market cap of $78.51 billion, a PE ratio of -662.66 and a beta of 1.99. The stock’s 50-day moving average price is $214.58 and its two-hundred day moving average price is $183.88.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share 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 business had revenue of $512.32 million for the quarter, compared to the consensus estimate of $501.58 million. During the same period last year, the firm posted $0.20 earnings per share. The firm’s quarterly 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. On average, analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Guggenheim reaffirmed a “sell” rating on shares of Cloudflare in a research note on Tuesday, October 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, October 8th. Mizuho raised their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Citigroup lifted their price objective on shares of Cloudflare from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. Finally, Piper Sandler increased their target price on shares of Cloudflare from $151.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Cloudflare currently has an average rating of “Moderate Buy” and an average target price of $198.21.

Insiders Place Their Bets

In related news, CEO Matthew Prince sold 52,277 shares of the stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $213.94, for a total value of $11,184,141.38. Following the completion of the sale, the chief executive officer directly owned 107 shares of the company’s stock, valued at approximately $22,891.58. This represents a 99.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Graham-Cumming sold 2,520 shares of Cloudflare stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $221.36, for a total value of $557,827.20. Following the transaction, the director directly owned 495,191 shares in the company, valued at approximately $109,615,479.76. This trade represents a 0.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 634,540 shares of company stock valued at $132,159,157 over the last quarter. 10.89% of the stock is owned by insiders.

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.