Bessemer Group Inc. Sells 137,378 Shares of Cloudflare, Inc. $NET

by · The Markets Daily

Bessemer Group Inc. decreased its holdings in Cloudflare, Inc. (NYSE:NET – Free Report) by 23.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 460,702 shares of the company’s stock after selling 137,378 shares during the period. Bessemer Group Inc.’s holdings in Cloudflare were worth $90,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. increased its stake in shares of Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares during the last quarter. Hilltop National Bank bought a new position in shares of Cloudflare in the 2nd quarter valued at $36,000. Ameritas Advisory Services LLC bought a new stake in Cloudflare during the 2nd quarter worth $39,000. Cullen Frost Bankers Inc. bought a new stake in Cloudflare during the 2nd quarter worth $45,000. Finally, Whipplewood Advisors LLC grew its position in Cloudflare by 277.6% during the 2nd quarter. Whipplewood Advisors LLC now owns 253 shares of the company’s stock worth $50,000 after acquiring an additional 186 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $225.30 on Tuesday. The company has a market cap of $78.51 billion, a PE ratio of -662.66 and a beta of 1.99. Cloudflare, Inc. has a 52 week low of $85.60 and a 52 week high of $230.10. The business has a 50 day moving average price of $214.58 and a 200-day moving average price of $183.88. 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 – Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm 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 quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business posted $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. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on NET. Scotiabank boosted their price objective on Cloudflare from $135.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. Cantor Fitzgerald upped their target price on Cloudflare from $162.00 to $199.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Royal Bank Of Canada upped their price target on Cloudflare from $210.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Mizuho upped their price target on Cloudflare from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cloudflare in a research note on Wednesday, October 8th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $198.21.

Read Our Latest Report on NET

Insider Transactions at Cloudflare

In other news, Director John Graham-Cumming sold 2,520 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $221.36, for a total value of $557,827.20. Following the completion of the sale, the director directly owned 495,191 shares of the company’s stock, valued at $109,615,479.76. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $210.65, for a total value of $3,159,750.00. Following the sale, the director directly owned 998,073 shares of the company’s stock, valued at $210,244,077.45. The trade was a 1.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 634,540 shares of company stock valued at $132,159,157. Corporate insiders own 10.89% of the company’s stock.

Cloudflare Profile

(Free Report)

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.

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