Rep. Robert Bresnahan, Jr. Purchases Shares of Cloudflare, Inc. (NYSE:NET)

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 %

NYSE NET traded up $3.68 on Tuesday, hitting $120.29. 5,891,573 shares of the company were exchanged, compared to its average volume of 2,997,101. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $41.51 billion, a PE ratio of -546.78 and a beta of 1.27. The stock has a fifty day moving average of $135.96 and a 200-day moving average of $107.94. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (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, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NET. Morgan Stanley increased their target price on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. UBS Group raised their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. JMP Securities boosted their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Susquehanna upped their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $185.00 price target on shares of Cloudflare in a research note on Tuesday, February 18th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and an average target price of $136.28.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total transaction of $1,690,800.00. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at $28,503,393.68. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 597,406 shares of company stock valued at $76,705,729 over the last quarter. Company insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Institutional investors and hedge funds have recently bought and sold shares of the company. CreativeOne Wealth LLC lifted its position in shares of Cloudflare by 0.8% during the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after buying an additional 58 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after purchasing an additional 77 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after purchasing an additional 94 shares during the last quarter. Baxter Bros Inc. boosted its position in Cloudflare by 3.8% during the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock worth $296,000 after purchasing an additional 100 shares during the period. Finally, Ellevest Inc. increased its stake in shares of Cloudflare by 2.3% in the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock worth $489,000 after purchasing an additional 102 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

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.