Cloudflare, Inc. $NET Stock Sold by Cornerstone Enterprises LLC

Cornerstone Enterprises LLC lowered its position in Cloudflare, Inc. (NYSE:NET) by 41.4% in the third quarter, HoldingsChannel reports. The firm owned 2,340 shares of the company’s stock after selling 1,652 shares during the period. Cornerstone Enterprises LLC’s holdings in Cloudflare were worth $813,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC increased its position in Cloudflare by 135.8% during the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company’s stock worth $906,758,000 after purchasing an additional 2,530,872 shares during the last quarter. Corient Private Wealth LLC raised its stake in Cloudflare by 4,042.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock worth $275,887,000 after purchasing an additional 1,365,598 shares during the period. Swedbank AB boosted its holdings in Cloudflare by 697.5% in the 1st quarter. Swedbank AB now owns 927,606 shares of the company’s stock valued at $191,402,000 after purchasing an additional 811,297 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Cloudflare in the 2nd quarter valued at about $75,595,000. Finally, USS Investment Management Ltd boosted its holdings in Cloudflare by 452.3% in the 1st quarter. USS Investment Management Ltd now owns 296,322 shares of the company’s stock valued at $61,156,000 after purchasing an additional 242,668 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 2.9%

NYSE NET opened at $314.76 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market capitalization of $111.26 billion, a P/E ratio of -542.69, a PEG ratio of 257.95 and a beta of 1.65. The firm’s 50-day moving average is $319.61 and its two-hundred day moving average is $263.78. Cloudflare, Inc. has a 12 month low of $158.83 and a 12 month high of $370.35.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The business had revenue of $696.06 million during the quarter, compared to analysts’ expectations of $664.66 million. During the same period last year, the business earned $0.21 earnings per share. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. On average, sell-side analysts anticipate that Cloudflare, Inc. will post 0.03 earnings per share for the current year.

Insider Transactions at Cloudflare

In related news, insider Michelle Zatlyn sold 33,003 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $294.63, for a total transaction of $9,723,673.89. Following the completion of the transaction, the insider owned 69,775 shares of the company’s stock, valued at approximately $20,557,808.25. This trade represents a 32.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,383 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $283.42, for a total transaction of $14,846,389.86. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 458,839 shares of company stock worth $138,172,392. 10.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NET has been the topic of several analyst reports. DZ Bank lowered shares of Cloudflare from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, August 7th. KeyCorp upped their price objective on Cloudflare from $300.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $340.00 price objective on shares of Cloudflare in a research report on Monday, October 5th. Truist Financial raised their target price on Cloudflare from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Citigroup reissued a “market outperform” rating on shares of Cloudflare in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cloudflare presently has a consensus rating of “Moderate Buy” and an average target price of $330.59.

About Cloudflare

Cloudflare, Inc is a connectivity cloud company that provides services designed to help organizations make their websites, applications and networks more secure, reliable and faster. Its global network sits between users and the services they access, supporting content delivery, domain name system services, traffic optimization and protection against distributed denial-of-service attacks and other online threats.

The company offers a range of application and network security products, including web application firewalls, bot management, application programming interface protection, zero-trust security and secure access services.