1832 Asset Management L.P. Trims Holdings in Cloudflare, Inc. $NET

1832 Asset Management L.P. lowered its position in shares of Cloudflare, Inc. (NYSE:NET) by 6.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,949,900 shares of the company’s stock after selling 131,500 shares during the period. 1832 Asset Management L.P.’s holdings in Cloudflare were worth $381,849,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NET. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Cloudflare during the 2nd quarter valued at $29,000. Quaker Wealth Management LLC boosted its holdings in Cloudflare by 218.6% in the 2nd quarter. Quaker Wealth Management LLC now owns 166 shares of the company’s stock worth $33,000 after buying an additional 306 shares during the period. Hilltop National Bank purchased a new stake in Cloudflare in the 2nd quarter worth $36,000. Ameritas Advisory Services LLC bought a new stake in Cloudflare during the second quarter valued at about $39,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Cloudflare during the second quarter valued at about $45,000. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NET has been the subject of several research analyst reports. Barclays initiated coverage on shares of Cloudflare in a research note on Tuesday. They set an “overweight” rating and a $235.00 target price for the company. Wells Fargo & Company raised their price objective on Cloudflare from $250.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Royal Bank Of Canada lifted their target price on Cloudflare from $250.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Robert W. Baird set a $220.00 price target on Cloudflare in a research note on Friday, October 31st. Finally, Stifel Nicolaus raised their price target on Cloudflare from $230.00 to $275.00 and gave the company a “buy” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Cloudflare currently has a consensus rating of “Moderate Buy” and an average price target of $235.33.

Cloudflare Trading Up 2.1%

NYSE NET opened at $201.33 on Wednesday. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market capitalization of $70.52 billion, a price-to-earnings ratio of -671.10 and a beta of 1.94. The company’s 50-day simple moving average is $215.87 and its two-hundred day simple moving average is $201.18.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. Cloudflare had a negative net margin of 5.12% and a negative return on equity of 6.54%. The firm had revenue of $562.03 million during the quarter, compared to analyst estimates of $544.65 million. During the same quarter in the previous year, the business posted $0.20 EPS. Cloudflare’s revenue was up 30.7% on a year-over-year basis. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS and its FY 2025 guidance at 0.910-0.910 EPS. Equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michelle Zatlyn sold 35,099 shares of Cloudflare stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $199.26, for a total transaction of $6,993,826.74. Following the completion of the transaction, the insider directly owned 24,555 shares in the company, valued at approximately $4,892,829.30. This trade represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $226.46, for a total transaction of $11,862,880.64. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 638,528 shares of company stock worth $133,985,858. 10.89% of the stock is owned by company insiders.

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.