Empowered Funds LLC Acquires 33,431 Shares of Cloudflare, Inc. $NET

Empowered Funds LLC grew its holdings in Cloudflare, Inc. (NYSE:NET) by 502.3% in the 2nd quarter, Holdings Channel reports. The fund owned 40,087 shares of the company’s stock after purchasing an additional 33,431 shares during the quarter. Empowered Funds LLC’s holdings in Cloudflare were worth $7,850,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Kingsview Wealth Management LLC bought a new stake in Cloudflare during the 1st quarter worth approximately $206,000. Kestra Private Wealth Services LLC boosted its holdings in shares of Cloudflare by 8.1% in the first quarter. Kestra Private Wealth Services LLC now owns 3,224 shares of the company’s stock valued at $363,000 after buying an additional 241 shares during the period. Allianz Asset Management GmbH increased its position in shares of Cloudflare by 5.3% during the first quarter. Allianz Asset Management GmbH now owns 25,700 shares of the company’s stock worth $2,897,000 after acquiring an additional 1,288 shares in the last quarter. Choreo LLC raised its holdings in shares of Cloudflare by 7.1% during the first quarter. Choreo LLC now owns 5,105 shares of the company’s stock worth $575,000 after acquiring an additional 339 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its position in Cloudflare by 0.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 110,300 shares of the company’s stock valued at $12,430,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE NET opened at $196.30 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a 50 day moving average price of $220.77 and a 200 day moving average price of $197.11. The stock has a market capitalization of $68.76 billion, a PE ratio of -654.32 and a beta of 2.10. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $562.03 million for the quarter, compared to analysts’ expectations of $544.87 million. Cloudflare had a negative return on equity of 6.54% and a negative net margin of 5.12%.The business’s revenue was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS. FY 2025 guidance at 0.910-0.910 EPS. Analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NET. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, October 8th. KeyCorp upped their price objective on Cloudflare from $235.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Scotiabank lifted their target price on Cloudflare from $200.00 to $225.00 and gave the company a “sector perform” rating in a research report on Friday, October 31st. Guggenheim reaffirmed a “sell” rating on shares of Cloudflare in a research report on Tuesday, October 21st. Finally, Argus raised their price target on shares of Cloudflare from $238.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.35.

Insider Activity

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $207.96, for a total value of $3,119,400.00. Following the completion of the sale, the director owned 983,073 shares in the company, valued at $204,439,861.08. This trade represents a 1.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $195.32, for a total transaction of $10,231,642.88. Following the completion of the transaction, the chief executive officer directly owned 22,175 shares of the company’s stock, valued at approximately $4,331,221. This trade represents a 70.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 583,955 shares of company stock valued at $123,647,846. 10.89% of the stock is owned by corporate insiders.

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.