QRG Capital Management Inc. Has $11.98 Million Stock Holdings in Cloudflare, Inc. $NET

QRG Capital Management Inc. cut its position in shares of Cloudflare, Inc. (NYSE:NET) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,189 shares of the company’s stock after selling 3,962 shares during the quarter. QRG Capital Management Inc.’s holdings in Cloudflare were worth $11,983,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NET. Mather Group LLC. grew its position in Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company’s stock worth $25,000 after buying an additional 202 shares in the last quarter. NBC Securities Inc. acquired a new stake in Cloudflare during the first quarter worth about $27,000. GPS Wealth Strategies Group LLC grew its position in Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock worth $29,000 after buying an additional 175 shares in the last quarter. Hilltop National Bank bought a new position in Cloudflare during the second quarter worth about $36,000. Finally, Ameritas Advisory Services LLC bought a new position in Cloudflare during the second quarter worth about $39,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $216.95 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The firm has a market cap of $75.60 billion, a P/E ratio of -638.08 and a beta of 1.99. The firm has a 50 day simple moving average of $210.27 and a 200 day simple moving average of $171.81. Cloudflare, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $230.10.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. Cloudflare’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 earnings per share. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michelle Zatlyn sold 25,641 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $212.49, for a total value of $5,448,456.09. Following the completion of the sale, the insider owned 14,575 shares of the company’s stock, valued at $3,097,041.75. This trade represents a 63.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $226.46, for a total transaction of $11,862,880.64. The disclosure for this sale can be found here. Insiders have sold a total of 727,020 shares of company stock valued at $146,028,939 over the last quarter. Company insiders own 10.89% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of analyst reports. Scotiabank raised their price target on shares of Cloudflare from $135.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. Mizuho raised their price target on shares of Cloudflare from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. DZ Bank restated a “sell” rating and set a $170.00 price target on shares of Cloudflare in a research note on Tuesday, July 22nd. Cantor Fitzgerald raised their price target on shares of Cloudflare from $162.00 to $199.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Finally, UBS Group raised their price target on shares of Cloudflare from $145.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $191.28.

Cloudflare 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.