Cloudflare, Inc. $NET Shares Purchased by Wedmont Private Capital

Key Points

• Wedmont Private Capital more than doubled its Cloudflare stake in the third quarter, purchasing 6,908 additional shares for a total holding of 13,280 shares valued at approximately $4.54 million. Institutional investors collectively own 82.68% of the company.
• Analyst sentiment remains broadly positive, with Cloudflare receiving a “Moderate Buy” consensus rating and an average price target of $328.19, though ratings range from “Strong Buy” to “Strong Sell.”
• Cloudflare shares rose 5.6% to $361.17, near their 52-week high, after the company reported quarterly revenue of $696.06 million—up 35.9% year over year—and adjusted EPS of $0.29, exceeding analyst expectations.

Wedmont Private Capital lifted its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 108.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,280 shares of the company's stock after buying 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 quarter.

A number of other institutional investors also recently bought and sold shares of NET. Journey Retirement Planning & Investment Management LLC purchased a new stake in shares of Cloudflare during the 3rd quarter worth about $306,000. LifeGoal Investments LLC purchased a new stake in shares of Cloudflare in the third quarter valued at about $291,000. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Cloudflare by 1.1% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 91,402 shares of the company's stock worth $31,742,000 after buying an additional 1,000 shares during the last quarter. GAMMA Investing LLC increased its stake in Cloudflare by 9.2% during the third quarter. GAMMA Investing LLC now owns 2,352 shares of the company's stock worth $817,000 after acquiring an additional 199 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Cloudflare by 3.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 17,194 shares of the company's stock valued at $5,971,000 after buying an additional 522 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler increased their target price on Cloudflare from $250.00 to $333.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. DZ Bank cut shares of Cloudflare from a "strong-buy" rating to a "strong sell" rating in a report on Friday, August 7th. Mizuho upped their target price on shares of Cloudflare from $260.00 to $310.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Robert W. Baird set a $330.00 target price on shares of Cloudflare in a report on Friday, August 7th. Finally, Oppenheimer boosted their price target on shares of Cloudflare from $380.00 to $430.00 and gave the stock an "outperform" rating in a research note on Friday. One 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 given a Sell rating to the company. According to MarketBeat, Cloudflare currently has an average rating of "Moderate Buy" and an average target price of $328.19.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 55,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $300.30, for a total value of $16,516,500.00. Following the completion of the sale, the chief financial officer owned 113,790 shares in the company, valued at approximately $34,171,137. The trade was a 32.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $294.63, for a total value of $9,723,673.89. Following the transaction, the insider directly owned 69,775 shares in the company, valued at approximately $20,557,808.25. This represents a 32.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 458,839 shares of company stock worth $138,172,392. Corporate insiders own 10.66% of the company's stock.

Cloudflare Stock Up 5.6%

NYSE:NET traded up $19.27 during mid-day trading on Friday, hitting $361.17. The stock had a trading volume of 1,336,173 shares, compared to its average volume of 4,080,816. Cloudflare, Inc. has a twelve month low of $158.83 and a twelve month high of $370.35. The stock has a 50-day simple moving average of $314.40 and a two-hundred day simple moving average of $259.31. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.22. The company has a market capitalization 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 - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The company had revenue of $696.06 million during the quarter, compared to analysts' expectations of $664.66 million. During the same quarter in the previous year, the business posted $0.21 EPS. The firm's revenue was up 35.9% on a year-over-year basis. 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 anticipate that Cloudflare, Inc. will post 0.03 EPS for the current year.

About Cloudflare

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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