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

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 Price Performance

Shares of NET traded up $3.88 during midday trading on Tuesday, hitting $120.49. The company’s stock had a trading volume of 3,051,489 shares, compared to its average volume of 2,986,258. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The stock has a market capitalization of $41.58 billion, a price-to-earnings ratio of -547.58 and a beta of 1.27. The company’s fifty day simple moving average is $135.96 and its two-hundred day simple moving average is $107.94.

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, equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of Cloudflare

Several hedge funds have recently made changes to their positions in NET. Hartline Investment Corp boosted its position in Cloudflare by 7.6% during the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after purchasing an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in Cloudflare in the 3rd quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. raised its holdings in Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after acquiring an additional 29,960 shares during the period. National Pension Service lifted its position in shares of Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after acquiring an additional 4,062 shares in the last quarter. Finally, Birchcreek Wealth Management LLC purchased a new position in shares of Cloudflare in the fourth quarter valued at $215,000. 82.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NET has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 price objective on shares of Cloudflare in a report on Tuesday, February 18th. 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 report on Tuesday, February 11th. Guggenheim lifted their target price on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Piper Sandler reiterated a “neutral” rating on shares of Cloudflare in a research note on Monday, March 3rd. Finally, Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and increased their target price for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Four investment 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, the stock currently has an average rating of “Hold” and a consensus target price of $136.28.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the completion of the transaction, the chief executive officer now owns 10,762 shares of the company’s stock, valued at approximately $1,216,106. The trade was a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. In the last three months, insiders have sold 597,406 shares of company stock worth $76,705,729. 12.83% of the stock is owned by company insiders.

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.