Cloudflare, Inc. $NET Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel lessened its stake in Cloudflare, Inc. (NYSE:NET) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 178,318 shares of the company’s stock after selling 9,055 shares during the period. Carnegie Investment Counsel owned 0.05% of Cloudflare worth $34,920,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NET. Mather Group LLC. increased its position in Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company’s stock valued at $25,000 after acquiring an additional 202 shares during the period. Hilltop National Bank acquired a new position in Cloudflare in the 2nd quarter valued at about $36,000. Ameritas Advisory Services LLC acquired a new position in Cloudflare in the 2nd quarter valued at about $39,000. Cullen Frost Bankers Inc. acquired a new position in Cloudflare in the 2nd quarter valued at about $45,000. Finally, First Horizon Advisors Inc. increased its position in Cloudflare by 208.9% in the 1st quarter. First Horizon Advisors Inc. now owns 451 shares of the company’s stock valued at $51,000 after acquiring an additional 305 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE:NET opened at $217.17 on Friday. The business’s 50 day simple moving average is $213.77 and its 200-day simple moving average is $181.19. The firm has a market capitalization of $75.68 billion, a price-to-earnings ratio of -638.73 and a beta of 1.99. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. Cloudflare, Inc. has a 12 month low of $85.60 and a 12 month high of $230.10.

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

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $211.81, for a total transaction of $2,118,100.00. Following the completion of the transaction, the chief financial officer directly owned 189,517 shares in the company, valued at $40,141,595.77. The trade was a 5.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,277 shares of Cloudflare stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $213.94, for a total value of $11,184,141.38. Following the transaction, the chief executive officer owned 107 shares of the company’s stock, valued at $22,891.58. This represents a 99.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 708,670 shares of company stock worth $147,000,646. Corporate insiders own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NET shares. UBS Group boosted their price target on Cloudflare from $215.00 to $240.00 and gave the company a “neutral” rating in a research report on Tuesday. Royal Bank Of Canada lifted their price objective on Cloudflare from $210.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Stifel Nicolaus lifted their price objective on Cloudflare from $175.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 1st. Citigroup lifted their price objective on Cloudflare from $240.00 to $255.00 and gave the company a “buy” rating in a report on Monday, August 18th. Finally, KeyCorp lifted their price objective on Cloudflare from $210.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $198.21.

Cloudflare Company 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.