Institute for Wealth Management LLC. Has $1.39 Million Stock Holdings in Cloudflare, Inc. $NET

Institute for Wealth Management LLC. reduced its holdings in Cloudflare, Inc. (NYSE:NET) by 7.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,098 shares of the company’s stock after selling 583 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Cloudflare were worth $1,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Union Bancaire Privee UBP SA increased its position in Cloudflare by 23.8% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 50,564 shares of the company’s stock valued at $9,902,000 after acquiring an additional 9,718 shares during the period. Trivium Point Advisory LLC acquired a new position in Cloudflare in the 2nd quarter valued at approximately $255,000. Park Place Capital Corp increased its position in Cloudflare by 1,492.6% in the 2nd quarter. Park Place Capital Corp now owns 430 shares of the company’s stock valued at $80,000 after acquiring an additional 403 shares during the period. Greenleaf Trust acquired a new position in Cloudflare in the 2nd quarter valued at approximately $278,000. Finally, Janney Montgomery Scott LLC increased its position in Cloudflare by 20.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 28,431 shares of the company’s stock valued at $5,568,000 after acquiring an additional 4,751 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NET. Scotiabank upped their price objective on shares of Cloudflare from $135.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. Piper Sandler upped their price objective 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. Needham & Company LLC upped their price objective on shares of Cloudflare from $200.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Mizuho upped their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada upped their price objective on shares of Cloudflare from $210.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. One equities 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.28.

Cloudflare Stock Down 1.9%

Shares of NYSE NET opened at $214.45 on Wednesday. The firm has a market cap of $74.73 billion, a PE ratio of -630.74 and a beta of 1.95. Cloudflare, Inc. has a 12-month low of $77.80 and a 12-month high of $230.10. The company’s fifty day simple moving average is $208.67 and its 200 day simple moving average is $169.65. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63.

Cloudflare (NYSE:NET) last issued its earnings results 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 business had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. During the same period in the prior year, the firm earned $0.20 earnings per share. Cloudflare’s revenue was up 27.8% on a year-over-year basis. 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 forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 381,213 shares in the company, valued at approximately $70,364,295.54. This represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 34,270 shares of the company’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the transaction, the chief financial officer owned 241,550 shares in the company, valued at approximately $48,351,063.50. The trade was a 12.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 718,020 shares of company stock worth $144,107,619. 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.