Cloudflare, Inc. $NET Shares Sold by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC lowered its position in shares of Cloudflare, Inc. (NYSE:NET) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,669 shares of the company’s stock after selling 2,741 shares during the quarter. Cloudflare accounts for 1.4% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Reynders McVeigh Capital Management LLC’s holdings in Cloudflare were worth $34,994,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Cornerstone Financial Management LLC increased its stake in shares of Cloudflare by 65.3% during the second quarter. Cornerstone Financial Management LLC now owns 119 shares of the company’s stock worth $29,000 after acquiring an additional 47 shares during the period. C M Bidwell & Associates Ltd. purchased a new stake in Cloudflare in the 2nd quarter valued at approximately $30,000. CX Institutional boosted its holdings in Cloudflare by 49.4% in 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. acquired a new position in Cloudflare during the 2nd quarter worth approximately $33,000. Finally, Ancora Advisors LLC acquired a new position in Cloudflare during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity

In related news, insider Michelle Zatlyn sold 33,003 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $294.63, for a total value of $9,723,673.89. Following the sale, the insider directly owned 69,775 shares of the company’s stock, valued at approximately $20,557,808.25. This represents a 32.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas J. Seifert sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $300.30, for a total transaction of $16,516,500.00. Following the transaction, the chief financial officer owned 113,790 shares of the company’s stock, valued at $34,171,137. This trade represents a 32.58% decrease in their ownership of the stock. 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. Insiders sold a total of 683,083 shares of company stock worth $181,754,532 over the last 90 days. 10.66% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on NET shares. Truist Financial raised their price target on Cloudflare from $300.00 to $350.00 and gave the company a “buy” rating in a report on Friday, August 7th. Robert W. Baird set a $330.00 price objective on Cloudflare in a report on Friday, August 7th. Scotiabank increased their price objective on Cloudflare from $300.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Royal Bank Of Canada boosted their target price on shares of Cloudflare from $290.00 to $346.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Susquehanna upped their price target on shares of Cloudflare from $200.00 to $300.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $320.19.

Cloudflare Price Performance

Shares of NET traded down $3.17 on Tuesday, reaching $327.19. The stock had a trading volume of 3,033,341 shares, compared to its average volume of 4,205,718. The firm has a market capitalization of $115.65 billion, a PE ratio of -564.12, a PEG ratio of 250.57 and a beta of 1.66. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average of $287.59 and a 200 day moving average of $240.67. Cloudflare, Inc. has a twelve month low of $158.83 and a twelve month high of $334.60.

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

Cloudflare Company Profile

Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.

The company’s offerings include content delivery and domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.