Cloudflare, Inc. $NET Stock Bought by Wedmont Private Capital

Wedmont Private Capital raised its holdings in Cloudflare, Inc. (NYSE:NET) by 108.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,280 shares of the company’s stock after acquiring an additional 6,908 shares during the period. Wedmont Private Capital’s holdings in Cloudflare were worth $4,540,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Cornerstone Financial Management LLC raised its holdings in shares of Cloudflare by 65.3% in the 2nd quarter. Cornerstone Financial Management LLC now owns 119 shares of the company’s stock worth $29,000 after purchasing an additional 47 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in Cloudflare in the 2nd quarter valued at about $30,000. CX Institutional grew its stake in Cloudflare by 49.4% during the 2nd quarter. CX Institutional now owns 133 shares of the company’s stock valued at $33,000 after purchasing an additional 44 shares in the last quarter. Cape Investment Advisory Inc. bought a new stake in shares of Cloudflare in the second quarter worth $33,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Cloudflare in the 2nd quarter valued at about $33,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Up 5.6%

Shares of NET traded up $19.27 during trading hours on Friday, hitting $361.17. 1,336,173 shares of the company were exchanged, compared to its average volume of 4,080,816. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 week high of $370.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.82 and a current ratio of 1.82. The firm’s 50 day moving average is $314.40 and its 200-day moving average is $259.31. The company has a market cap of $127.66 billion, a PE ratio of -622.16, a PEG ratio of 272.78 and a beta of 1.65.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $696.06 million for the quarter, compared to analyst estimates of $664.66 million. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The company’s revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. 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, equities research analysts forecast that Cloudflare, Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $300.30, for a total value of $16,516,500.00. Following the completion of the transaction, the chief financial officer owned 113,790 shares in the company, valued at $34,171,137. The trade was a 32.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,383 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $283.42, for a total transaction of $14,846,389.86. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 458,839 shares of company stock worth $138,172,392 in the last 90 days. 10.66% of the stock is owned by company insiders.

Analyst Ratings Changes

NET has been the topic of several research reports. Sanford C. Bernstein increased their price objective on shares of Cloudflare from $164.00 to $181.00 and gave the stock a “market perform” rating in a research note on Thursday, September 17th. Needham & Company LLC upped their price target on shares of Cloudflare from $280.00 to $380.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Raymond James Financial assumed coverage on Cloudflare in a research note on Tuesday, July 7th. They set a “strong-buy” rating for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $340.00 price target on shares of Cloudflare in a report on Monday. Finally, TD Cowen upped their price objective on shares of Cloudflare from $300.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.19.

Cloudflare Company Profile

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.