Assetmark Inc. Acquires 12,539 Shares of Cloudflare, Inc. $NET

Assetmark Inc. grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 35.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,246 shares of the company’s stock after acquiring an additional 12,539 shares during the quarter. Assetmark Inc.’s holdings in Cloudflare were worth $9,448,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Cloudflare by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company’s stock worth $3,475,011,000 after buying an additional 538,850 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cloudflare by 33.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock worth $352,610,000 after buying an additional 786,063 shares during the last quarter. American Century Companies Inc. lifted its position in Cloudflare by 34.5% in the 1st 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. Northern Trust Corp lifted its position in Cloudflare by 1.7% in the 1st 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 last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 during the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of NET stock opened at $253.29 on Friday. 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, Inc. has a fifty-two week low of $85.60 and a fifty-two week high of $254.30. The stock has a 50 day moving average price of $217.57 and a two-hundred day moving average price of $187.38. The company has a market capitalization of $88.26 billion, a P/E ratio of -844.28 and a beta of 1.99.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. Cloudflare had a negative return on equity of 6.69% and a negative net margin of 5.12%.The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $544.87 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The business’s revenue was up 30.7% on a year-over-year basis. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS. FY 2025 guidance at 0.910-0.910 EPS. Analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NET. Guggenheim restated a “sell” rating on shares of Cloudflare in a research report on Tuesday, October 21st. Oppenheimer set a $260.00 target price on Cloudflare and gave the stock an “outperform” rating in a research report on Friday. Stifel Nicolaus boosted their target price on Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America boosted their target price on Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, JMP Securities set a $270.00 target price on Cloudflare in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.16.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 41,555 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $190.64, for a total transaction of $7,922,045.20. Following the completion of the transaction, the chief financial officer owned 189,517 shares in the company, valued at $36,129,520.88. This represents a 17.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 35,100 shares of the company’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 approximately $2,794,173.25. This represents a 70.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 631,540 shares of company stock worth $131,564,497 over the last quarter. 10.89% of the stock is 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.