Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Cloudflare, Inc. NYSE: NET. In a filing disclosed on March 07th, the Representative disclosed that they had bought between $1,001 and $15,000 in Cloudflare stock on February 10th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.
Representative Robert Bresnahan, Jr. also recently made the following trade(s):
- Purchased $1,001 - $15,000 in shares of Alibaba Group NYSE: BABA on 2/21/2025.
- Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 2/20/2025.
- Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 2/20/2025.
- Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 2/20/2025.
- Sold $1,001 - $15,000 in shares of Astera Labs NASDAQ: ALAB on 2/18/2025.
- Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 2/14/2025.
- Purchased $1,001 - $15,000 in shares of Reddit NYSE: RDDT on 2/14/2025.
- Sold $1,001 - $15,000 in shares of Oracle NYSE: ORCL on 2/14/2025.
- Purchased $1,001 - $15,000 in shares of Snowflake NYSE: SNOW on 2/13/2025.
- Sold $1,001 - $15,000 in shares of Arista Networks NYSE: ANET on 2/13/2025.
Cloudflare Stock Performance
NYSE:NET traded up $2.05 during mid-day trading on Wednesday, reaching $122.12. The stock had a trading volume of 1,972,983 shares, compared to its average volume of 2,994,943. The business has a 50 day simple moving average of $136.21 and a 200 day simple moving average of $108.20. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market capitalization of $42.14 billion, a price-to-earnings ratio of -554.44 and a beta of 1.27.
Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cloudflare
Several institutional investors have recently modified their holdings of NET. Gordian Capital Singapore Pte Ltd bought a new position in Cloudflare during the fourth quarter valued at $43,000. Capital Performance Advisors LLP bought a new position in Cloudflare during the third quarter valued at $38,000. Quarry LP grew its holdings in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after purchasing an additional 133 shares during the period. Park Square Financial Group LLC bought a new position in Cloudflare during the fourth quarter valued at $56,000. Finally, Larson Financial Group LLC lifted its position in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after acquiring an additional 517 shares in the last quarter. 82.68% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have commented on NET shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $185.00 target price on shares of Cloudflare in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their target price on shares of Cloudflare from $123.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Citigroup raised shares of Cloudflare from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. DZ Bank cut shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective for the company. in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and a consensus target price of $136.28.
Check Out Our Latest Stock Report on NET
Insiders Place Their Bets
In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the sale, the chief executive officer now owns 413,413 shares in the company, valued at $59,961,421.52. This trade represents a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 597,406 shares of company stock worth $76,705,729 over the last 90 days. Corporate insiders own 12.83% of the company's stock.
About Representative Bresnahan
Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.
Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election.
Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.
About Cloudflare
(
Get 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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