Berkshire Capital Holdings Inc. Sells 9,390 Shares of Cloudflare, Inc. $NET

Berkshire Capital Holdings Inc. cut its position in shares of Cloudflare, Inc. (NYSE:NET) by 8.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 102,230 shares of the company’s stock after selling 9,390 shares during the quarter. Cloudflare makes up about 7.0% of Berkshire Capital Holdings Inc.’s portfolio, making the stock its 2nd largest holding. Berkshire Capital Holdings Inc.’s holdings in Cloudflare were worth $20,020,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Westfield Capital Management Co. LP bought a new position in Cloudflare during the second quarter worth $87,868,000. Wealthedge Investment Advisors LLC grew its stake in shares of Cloudflare by 64.5% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company’s stock valued at $1,367,000 after buying an additional 4,755 shares during the period. American Century Companies Inc. increased its position in Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock valued at $342,287,000 after buying an additional 779,819 shares in the last quarter. Motley Fool Asset Management LLC raised its stake in Cloudflare by 10.5% during the 2nd quarter. Motley Fool Asset Management LLC now owns 17,752 shares of the company’s stock worth $3,476,000 after buying an additional 1,691 shares during the period. Finally, Strategy Capital LLC boosted its holdings in Cloudflare by 4.5% in the second quarter. Strategy Capital LLC now owns 1,165,942 shares of the company’s stock worth $228,326,000 after acquiring an additional 50,374 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NET shares. DZ Bank upgraded Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 price objective for the company in a report on Wednesday, November 5th. Needham & Company LLC boosted their price target on shares of Cloudflare from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Robert W. Baird set a $220.00 price objective on shares of Cloudflare in a research note on Friday, October 31st. Oppenheimer began coverage on shares of Cloudflare in a report on Monday, November 10th. They set an “outperform” rating and a $260.00 price objective for the company. Finally, Citizens Jmp upped their target price on shares of Cloudflare from $250.00 to $270.00 and gave the stock a “market outperform” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.33.

Insiders Place Their Bets

In related news, insider Michelle Zatlyn sold 35,099 shares of Cloudflare stock in a transaction 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 sale, 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 SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $215.51, for a total value of $11,289,275.84. The SEC filing for this sale provides additional information. Insiders have sold a total of 638,528 shares of company stock valued at $131,882,116 in the last 90 days. 10.89% of the stock is currently owned by corporate insiders.

Cloudflare Stock Performance

Shares of NET stock opened at $213.64 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a 50-day moving average of $214.57 and a 200-day moving average of $202.92. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00. The company has a market cap of $74.83 billion, a P/E ratio of -712.13 and a beta of 1.94.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.27 earnings per share 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 business had revenue of $562.03 million for the quarter, compared to analysts’ expectations of $544.65 million. During the same period in the previous year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was up 30.7% compared to the same quarter last year. 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 research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

About Cloudflare

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.