Cloudflare (NYSE:NET) Stock Acquired Rep. Robert Bresnahan, Jr.

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 Snowflake (NYSE:SNOW) on 2/13/2025.
• Sold $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 2/13/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 2/12/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 2/12/2025.
• Purchased $1,001 – $15,000 in shares of monday.com (NASDAQ:MNDY) on 2/11/2025.
• Sold $1,001 – $15,000 in shares of Onsemi (NASDAQ:ON) on 2/11/2025.
• Purchased $1,001 – $15,000 in shares of MACOM Technology Solutions (NASDAQ:MTSI) on 2/10/2025.
• Sold $1,001 – $15,000 in shares of Trade Desk (NASDAQ:TTD) on 2/10/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 2/10/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/10/2025.

Cloudflare Stock Up 3.2 %

NET traded up $3.68 on Tuesday, reaching $120.29. The company’s stock had a trading volume of 5,898,164 shares, compared to its average volume of 2,998,614. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The business’s 50 day moving average is $135.96 and its 200 day moving average is $107.94. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The stock has a market cap of $41.51 billion, a price-to-earnings ratio of -546.78 and a beta of 1.27.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NET. Baird R W lowered Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their price objective on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their target price on Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Piper Sandler reissued a “neutral” rating on shares of Cloudflare in a report on Monday, March 3rd. Finally, Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Cloudflare currently has an average rating of “Hold” and a consensus price target of $136.28.

Insider Activity

In other news, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $19,572,040.44. This represents a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 597,406 shares of company stock valued at $76,705,729. 12.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of NET. Capital World Investors raised its stake in Cloudflare by 0.7% in the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after acquiring an additional 260,415 shares during the period. Geode Capital Management LLC grew its stake in Cloudflare by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after buying an additional 68,661 shares during the last quarter. Groupama Asset Managment bought a new position in Cloudflare in the 4th quarter valued at about $269,200,000. Norges Bank acquired a new stake in Cloudflare during the fourth quarter worth approximately $249,544,000. Finally, American Century Companies Inc. boosted its holdings in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock worth $243,098,000 after acquiring an additional 1,017,399 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.

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.