Concurrent Investment Advisors LLC Trims Holdings in Cloudflare, Inc. $NET

Concurrent Investment Advisors LLC cut its holdings in Cloudflare, Inc. (NYSE:NET) by 59.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,875 shares of the company’s stock after selling 4,144 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Cloudflare were worth $563,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Cloudflare by 86.8% during the 1st quarter. GAMMA Investing LLC now owns 1,093 shares of the company’s stock valued at $123,000 after purchasing an additional 508 shares during the last quarter. Wealthedge Investment Advisors LLC grew its position in Cloudflare by 64.5% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company’s stock valued at $1,367,000 after purchasing an additional 4,755 shares during the last quarter. American Century Companies Inc. grew its position in Cloudflare by 34.5% during the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock valued at $342,287,000 after purchasing an additional 779,819 shares during the last quarter. Independent Solutions Wealth Management LLC grew its position in Cloudflare by 293.3% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 15,059 shares of the company’s stock valued at $2,949,000 after purchasing an additional 11,230 shares during the last quarter. Finally, Castle Rock Wealth Management LLC grew its position in Cloudflare by 10.5% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 12,943 shares of the company’s stock valued at $2,568,000 after purchasing an additional 1,229 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cloudflare

In other news, insider Michelle Zatlyn sold 35,100 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $191.71, for a total value of $6,729,021.00. Following the transaction, the insider owned 14,575 shares in the company, valued at $2,794,173.25. This represents a 70.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas J. Seifert sold 59,130 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the completion of the transaction, the chief financial officer owned 241,550 shares in the company, valued at $48,382,465. This trade represents a 19.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 729,540 shares of company stock worth $150,883,922 over the last quarter. Company insiders own 10.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NET. JMP Securities increased their price objective on shares of Cloudflare from $180.00 to $225.00 and gave the company a “market outperform” rating in a research report on Monday, July 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, October 8th. Morgan Stanley raised their price target on shares of Cloudflare from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Bank of America raised their price target on shares of Cloudflare from $235.00 to $240.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Cantor Fitzgerald raised their price target on shares of Cloudflare from $162.00 to $199.00 and gave the company a “neutral” rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $196.54.

Cloudflare Price Performance

Shares of NYSE:NET opened at $209.94 on Friday. The firm’s 50 day moving average price is $212.65 and its 200-day moving average price is $178.22. Cloudflare, Inc. has a twelve month low of $85.60 and a twelve month high of $230.10. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $73.16 billion, a PE ratio of -617.47 and a beta of 1.99.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The firm had revenue of $512.32 million for the quarter, compared to analysts’ expectations of $501.58 million. During the same quarter in the prior year, the business earned $0.20 EPS. The business’s quarterly revenue was up 27.8% on a year-over-year basis. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current 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.