EFG Asset Management North America Corp. Reduces Position in Cloudflare, Inc. $NET

EFG Asset Management North America Corp. lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 13.2% in the second quarter, Holdings Channel.com reports. The firm owned 27,031 shares of the company’s stock after selling 4,122 shares during the period. EFG Asset Management North America Corp.’s holdings in Cloudflare were worth $5,288,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Daymark Wealth Partners LLC boosted its stake in shares of Cloudflare by 1.1% during the 2nd quarter. Daymark Wealth Partners LLC now owns 4,556 shares of the company’s stock valued at $892,000 after buying an additional 51 shares during the last quarter. Huntington National Bank lifted its holdings in Cloudflare by 22.8% during the 2nd quarter. Huntington National Bank now owns 280 shares of the company’s stock worth $55,000 after buying an additional 52 shares during the last quarter. ORG Partners LLC raised its position in shares of Cloudflare by 11.9% during the 2nd quarter. ORG Partners LLC now owns 498 shares of the company’s stock worth $92,000 after purchasing an additional 53 shares during the period. Fiduciary Planning LLC grew its stake in Cloudflare by 3.0% during the 2nd quarter. Fiduciary Planning LLC now owns 1,854 shares of the company’s stock worth $363,000 after buying an additional 54 shares during the last quarter. Finally, Yousif Capital Management LLC grew its stake in Cloudflare by 1.9% during the 2nd quarter. Yousif Capital Management LLC now owns 4,044 shares of the company’s stock worth $792,000 after buying an additional 75 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NET shares. Oppenheimer set a $260.00 price target on shares of Cloudflare and gave the company an “outperform” rating in a report on Friday. Cantor Fitzgerald lifted their price objective on shares of Cloudflare from $199.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Needham & Company LLC raised 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. UBS Group raised their price target on shares of Cloudflare from $240.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday. Finally, KeyCorp increased their price objective on Cloudflare from $235.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $231.48.

Cloudflare Stock Down 6.2%

NET stock opened at $232.68 on Wednesday. The firm has a market cap of $81.09 billion, a PE ratio of -775.61 and a beta of 2.10. Cloudflare, Inc. has a 12 month low of $86.43 and a 12 month high of $260.00. The firm has a 50 day simple moving average of $219.28 and a 200 day simple moving average of $189.80. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Cloudflare had a negative return on equity of 6.54% and a negative net margin of 5.12%.The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $544.87 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The firm’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. FY 2025 guidance at 0.910-0.910 EPS. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $226.46, for a total value of $11,862,880.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 41,555 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $190.64, for a total transaction of $7,922,045.20. Following the completion of the transaction, the chief financial officer owned 189,517 shares in the company, valued at $36,129,520.88. The trade was a 17.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 635,060 shares of company stock valued at $132,450,738 over the last 90 days. 10.89% of the stock is currently owned by company insiders.

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.