Cloudflare, Inc. $NET Holdings Reduced by Davis Rea LTD.

Key Points

• Davis Rea LTD. reduced its Cloudflare stake by 6.8% in the third quarter, selling 5,010 shares and retaining 68,374 shares valued at approximately $23.7 million. Institutional investors and hedge funds collectively own 82.68% of the company.
• Cloudflare insiders sold 458,839 shares worth roughly $138.2 million over the past 90 days, including significant sales by CFO Thomas Seifert and insider Michelle Zatlyn under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $330.59, while Cloudflare’s latest quarterly results exceeded expectations with $696.1 million in revenue and $0.29 EPS; the stock recently traded at $348.38.

Davis Rea LTD. decreased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,374 shares of the company's stock after selling 5,010 shares during the period. Cloudflare accounts for 6.8% of Davis Rea LTD.'s investment portfolio, making the stock its 6th biggest position. Davis Rea LTD.'s holdings in Cloudflare were worth $23,745,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in NET. Sax Wealth Advisors LLC purchased a new stake in shares of Cloudflare in the third quarter valued at $583,000. NorthCrest Asset Manangement LLC increased its position in Cloudflare by 45.9% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 4,342 shares of the company's stock worth $1,484,000 after purchasing an additional 1,365 shares in the last quarter. Perpetual Ltd increased its position in Cloudflare by 188.1% during the 3rd quarter. Perpetual Ltd now owns 4,745 shares of the company's stock worth $1,648,000 after purchasing an additional 3,098 shares in the last quarter. Armstrong Advisory Group Inc. raised its stake in Cloudflare by 31.2% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 164 shares of the company's stock valued at $57,000 after purchasing an additional 39 shares during the last quarter. Finally, GK Wealth Management LLC acquired a new position in Cloudflare in the 3rd quarter valued at about $25,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $332.46, for a total value of $3,324,600.00. Following the transaction, the chief financial officer owned 107,902 shares in the company, valued at $35,873,098.92. This trade represents a 8.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of Cloudflare stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $348.29, for a total transaction of $11,494,614.87. Following the completion of the transaction, the insider owned 69,775 shares in the company, valued at approximately $24,301,934.75. This trade represents a 32.11% decrease in their position. 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 have sold a total of 458,839 shares of company stock valued at $138,172,392 in the last ninety days. 10.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NET has been the topic of a number of recent research reports. Piper Sandler upped their target price on shares of Cloudflare from $250.00 to $333.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Cantor Fitzgerald reiterated a "neutral" rating and set a $340.00 price target on shares of Cloudflare in a report on Monday, October 5th. Truist Financial boosted their price objective on shares of Cloudflare from $300.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Needham & Company LLC upped their price objective on shares of Cloudflare from $280.00 to $380.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Robert W. Baird set a $330.00 target price on shares of Cloudflare in a research report 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 assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Cloudflare has an average rating of "Moderate Buy" and an average target price of $330.59.

Cloudflare Trading Down 0.7%

NYSE:NET traded down $2.49 during mid-day trading on Tuesday, reaching $348.38. The company's stock had a trading volume of 1,745,503 shares, compared to its average volume of 4,064,003. The company's fifty day simple moving average is $317.39 and its two-hundred day simple moving average is $261.27. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.82 and a quick ratio of 1.82. Cloudflare, Inc. has a twelve month low of $158.83 and a twelve month high of $370.35. The stock has a market cap of $123.14 billion, a P/E ratio of -600.66, a P/E/G ratio of 287.06 and a beta of 1.65.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.02. The company had revenue of $696.06 million during the quarter, compared to the consensus estimate of $664.66 million. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The company's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company 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 analysts predict that Cloudflare, Inc. will post 0.03 EPS for the current year.

Cloudflare 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.

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