Cloudflare, Inc. $NET Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in Cloudflare, Inc. (NYSE:NET) by 97.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 155,528 shares of the company’s stock after selling 4,954,000 shares during the period. New York State Common Retirement Fund’s holdings in Cloudflare were worth $30,457,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its stake in Cloudflare by 23.5% in the first quarter. Mackenzie Financial Corp now owns 18,088 shares of the company’s stock valued at $2,038,000 after buying an additional 3,447 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Cloudflare in the 1st quarter valued at $557,000. XTX Topco Ltd purchased a new stake in Cloudflare in the 1st quarter valued at $342,000. PNC Financial Services Group Inc. boosted its stake in Cloudflare by 19.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,239 shares of the company’s stock worth $816,000 after purchasing an additional 1,163 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in Cloudflare by 1,071.2% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 24,454 shares of the company’s stock worth $2,756,000 after purchasing an additional 22,366 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In other news, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $189.07, for a total value of $4,847,943.87. Following the completion of the transaction, the insider owned 24,555 shares in the company, valued at $4,642,613.85. This trade represents a 51.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Janel Riley sold 3,488 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $196.51, for a total transaction of $685,426.88. Following the completion of the sale, the chief accounting officer owned 56,144 shares of the company’s stock, valued at $11,032,857.44. This trade represents a 5.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 645,609 shares of company stock valued at $135,476,411 in the last quarter. Corporate insiders own 10.89% of the company’s stock.

Cloudflare Price Performance

Shares of NET opened at $200.07 on Monday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46. The stock’s 50 day moving average is $216.93 and its two-hundred day moving average is $200.55. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. The firm has a market capitalization of $70.08 billion, a PE ratio of -666.90 and a beta of 1.95.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.27 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 business had revenue of $562.03 million during the quarter, compared to analysts’ expectations of $544.65 million. During the same period last year, the firm earned $0.20 EPS. The company’s quarterly revenue was up 30.7% compared to the same quarter last year. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS. FY 2025 guidance at 0.910-0.910 EPS. Research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of research reports. Needham & Company LLC upped their target price on shares of Cloudflare from $240.00 to $285.00 and gave the company a “buy” rating in a report on Friday, October 31st. KeyCorp boosted their price target on Cloudflare from $235.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Piper Sandler upped their price objective on Cloudflare from $224.00 to $249.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. DZ Bank raised Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 price objective for the company in a research report on Wednesday, November 5th. Finally, Jefferies Financial Group assumed coverage on Cloudflare in a report on Friday, October 31st. They issued a “hold” rating and a $250.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.35.

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.