Cloudflare, Inc. $NET Shares Sold by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel reduced its stake in Cloudflare by 11.9%, selling 18,249 shares in Q4 and now holds 134,784 shares worth about $26.6 million per its SEC filing.
• Heavy insider selling has added pressure: the CFO sold 41,557 shares (~$7.7M) and the CEO sold 52,384 shares (~$8.6M), with insiders selling 624,247 shares (~$121.1M) over the past 90 days.
• Fundamentals remain solid—revenue grew ~33.6% year‑over‑year and the company beat EPS estimates—while analysts' consensus is a “Moderate Buy” with an average price target of $233.38, though AI‑sector contagion and macro volatility have weighed on the stock.

Carnegie Investment Counsel decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,784 shares of the company's stock after selling 18,249 shares during the quarter. Carnegie Investment Counsel's holdings in Cloudflare were worth $26,573,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NET. Physician Wealth Advisors Inc. boosted its holdings in shares of Cloudflare by 693.3% during the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company's stock worth $26,000 after purchasing an additional 104 shares during the last quarter. Wiser Advisor Group LLC acquired a new stake in shares of Cloudflare during the third quarter worth $26,000. Westside Investment Management Inc. boosted its holdings in shares of Cloudflare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 130 shares of the company's stock worth $28,000 after purchasing an additional 65 shares during the last quarter. ORG Wealth Partners LLC boosted its holdings in shares of Cloudflare by 101.4% during the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company's stock worth $30,000 after purchasing an additional 70 shares during the last quarter. Finally, Wexford Capital LP acquired a new stake in shares of Cloudflare during the third quarter worth $30,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Key Cloudflare News

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Product and partner momentum: Virtru launched object‑level data governance for Cloudflare R2, improving R2’s security/compliance pitch for AI workloads and strengthening Cloudflare’s developer/storage monetization pathway. Virtru Brings Object Level Governance To Cloudflare R2 For AI And Compliance
• Positive Sentiment: Durable fundamentals: recent quarterly results showed revenue growth (~34% y/y) and an EPS beat, and several analysts highlight Cloudflare’s edge + security positioning for AI inference at the edge — a longer‑term growth thesis for the stock. Are Cloudflare (NET)’s AI Security Prospects Brighter Than Investors Think?
• Neutral Sentiment: Wall Street stance is mixed‑positive: consensus remains around a “moderate buy” with varied price targets, so analyst coverage may temper panic selling but isn’t a fresh bullish catalyst right now. Cloudflare, Inc. NYSE: NET Receives Average Rating of "Moderate Buy" from Analysts
• Negative Sentiment: Sector contagion from AI “agent” news: reports that Anthropic launched managed agents triggered a broad sell‑off in AI/edge/security infrastructure names (Cloudflare included) as investors rapidly reprice how frontier AI advances could change competitive dynamics and margins. Fastly, along with Akamai and Cloudflare, tumbles after Anthropic launches managed agents
• Negative Sentiment: Insider selling amplified pressure: several recently disclosed, pre‑arranged CEO sales (Rule 10b5‑1) were sizable and have been highlighted in headlines; even planned sales can create short‑term selling pressure and raise investor nerves. Cloudflare (NET) Stock Plunges 8.6% Following CEO’s $33M Share Sale
• Negative Sentiment: Macro & geopolitical risk: a ceasefire breach in the Middle East briefly spiked market volatility today, contributing to risk‑off flows that hit high‑multiple software and AI infrastructure stocks. Why Cloudflare (NET) Shares Are Trading Lower Today

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Cloudflare in a report on Wednesday, January 21st. Wolfe Research restated a "peer perform" rating on shares of Cloudflare in a report on Monday, January 26th. Wells Fargo & Company lifted their target price on Cloudflare from $265.00 to $270.00 and gave the company an "overweight" rating in a report on Wednesday, February 11th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $224.00 target price on shares of Cloudflare in a report on Wednesday, February 11th. Finally, Needham & Company LLC reduced their target price on Cloudflare from $285.00 to $250.00 and set a "buy" rating on the stock in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $233.38.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 41,557 shares of the business's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $185.04, for a total transaction of $7,689,707.28. Following the transaction, the chief financial officer owned 85,452 shares in the company, valued at $15,812,038.08. The trade was a 32.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $164.15, for a total value of $8,598,833.60. Following the transaction, the chief executive officer owned 22,911 shares in the company, valued at approximately $3,760,840.65. This represents a 69.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 624,247 shares of company stock worth $121,102,467. 10.89% of the stock is owned by insiders.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $167.41 on Friday. Cloudflare, Inc. has a twelve month low of $100.25 and a twelve month high of $260.00. The stock has a market capitalization of $58.92 billion, a P/E ratio of -577.26 and a beta of 1.87. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. The business's fifty day moving average price is $194.59 and its 200 day moving average price is $202.00.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The firm had revenue of $614.51 million for the quarter, compared to analysts' expectations of $591.67 million. During the same quarter last year, the firm earned $0.19 earnings per share. The firm's revenue for the quarter was up 33.6% compared to the same quarter last year. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

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