Cloudflare, Inc. $NET Shares Sold by Oak Ridge Investments LLC

Key Points

• Oak Ridge Investments reduced its Cloudflare stake by 5.3% in the second quarter, selling 3,472 shares and retaining 62,004 shares valued at about $15.2 million. Institutional investors and hedge funds collectively own 82.68% of the company.
• Analyst sentiment remains broadly positive but mixed: Cloudflare has a consensus “Moderate Buy” rating and a $320.19 price target, while recent targets range from $350 to $382 and some firms issued downgrade or “underperform” calls.
• Cloudflare beat quarterly expectations with $0.29 in EPS and $696.06 million in revenue, up 35.9% year over year. Shares opened at $315.63, near their 12-month high of $332.22, while insiders have sold about $184 million in stock over the past 90 days.

Oak Ridge Investments LLC reduced its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,004 shares of the company's stock after selling 3,472 shares during the period. Cloudflare comprises 0.9% of Oak Ridge Investments LLC's investment portfolio, making the stock its 27th biggest position. Oak Ridge Investments LLC's holdings in Cloudflare were worth $15,208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lingotto Investment Management LLP purchased a new stake in shares of Cloudflare in the 4th quarter worth about $34,626,000. Jupiter Asset Management Ltd. increased its holdings in Cloudflare by 1,984.7% during the 4th quarter. Jupiter Asset Management Ltd. now owns 197,710 shares of the company's stock valued at $38,979,000 after acquiring an additional 188,226 shares in the last quarter. Trek Financial LLC purchased a new position in Cloudflare during the 4th quarter valued at about $1,793,000. Pictet Asset Management Holding SA increased its holdings in Cloudflare by 17.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company's stock valued at $284,900,000 after acquiring an additional 206,506 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in Cloudflare during the fourth quarter worth about $5,543,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DZ Bank downgraded shares of Cloudflare from a "strong-buy" rating to a "strong sell" rating in a report on Friday, August 7th. Benchmark cut shares of Cloudflare to an "underperform" rating in a research note on Tuesday, July 7th. TD Cowen lifted their price objective on Cloudflare from $300.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. UBS Group upped their target price on Cloudflare from $250.00 to $350.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Finally, BTIG Research increased their target price on Cloudflare from $314.00 to $382.00 and gave the company a "buy" rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Cloudflare has an average rating of "Moderate Buy" and a consensus price target of $320.19.

Insider Activity

In related news, Director John Graham-Cumming sold 2,520 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $303.97, for a total transaction of $766,004.40. Following the sale, the director owned 494,909 shares in the company, valued at approximately $150,437,488.73. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal 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, Director Mark J. Hawkins sold 133 shares of Cloudflare stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $277.74, for a total transaction of $36,939.42. Following the completion of the sale, the director directly owned 10,632 shares of the company's stock, valued at $2,952,931.68. The trade was a 1.24% 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 have sold 748,719 shares of company stock valued at $183,992,198 in the last 90 days. Insiders own 10.66% of the company's stock.

Cloudflare Price Performance

NYSE:NET opened at $315.63 on Friday. The firm has a market cap of $111.56 billion, a price-to-earnings ratio of -544.19, a price-to-earnings-growth ratio of 204.57 and a beta of 1.65. 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's 50-day moving average is $261.98 and its two-hundred day moving average is $223.72. Cloudflare, Inc. has a 12-month low of $158.83 and a 12-month high of $332.22.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. The business 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 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. Research analysts expect that Cloudflare, Inc. will post 0.03 EPS for the current year.

Cloudflare Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source