Cloudflare, Inc. $NET Stock Sold by RDA Financial Network

Key Points

• RDA Financial Network reduced its Cloudflare stake by 43.6% in the third quarter, selling 7,126 shares and retaining 9,224 shares valued at approximately $3.2 million.
• Cloudflare reported quarterly EPS of $0.29, exceeding estimates of $0.27, while revenue rose 35.9% year over year to $696.1 million. Institutional investors own 82.68% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $330.59, although company insiders sold 458,839 shares worth about $138.2 million during the last quarter.

RDA Financial Network cut its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 43.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,224 shares of the company's stock after selling 7,126 shares during the period. RDA Financial Network's holdings in Cloudflare were worth $3,203,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in shares of Cloudflare by 135.8% during the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company's stock valued at $906,758,000 after purchasing an additional 2,530,872 shares during the period. Amundi increased its stake in Cloudflare by 2.0% during the 1st quarter. Amundi now owns 1,707,256 shares of the company's stock valued at $352,275,000 after buying an additional 32,804 shares during the period. Corient Private Wealth LLC increased its stake in Cloudflare by 4,042.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company's stock valued at $275,887,000 after buying an additional 1,365,598 shares during the period. Pictet Asset Management Holding SA increased its stake 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 buying an additional 206,506 shares during the period. Finally, National Pension Service raised its position in shares of Cloudflare by 1.6% during the 2nd quarter. National Pension Service now owns 959,987 shares of the company's stock worth $235,466,000 after buying an additional 15,546 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Price Performance

NET stock traded down $13.48 on Thursday, hitting $310.85. 2,046,351 shares of the company's stock traded hands, compared to its average volume of 4,051,601. The stock has a market cap of $109.88 billion, a price-to-earnings ratio of -534.40, a P/E/G ratio of 276.54 and a beta of 1.65. Cloudflare, Inc. has a 1-year low of $158.83 and a 1-year high of $370.35. 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 stock has a fifty day moving average of $318.98 and a 200-day moving average of $262.99.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on NET. TD Cowen upped their price target on shares of Cloudflare from $355.00 to $375.00 and gave the stock a "buy" rating in a research note on Tuesday. Sanford C. Bernstein boosted their target price on Cloudflare from $164.00 to $181.00 and gave the stock a "market perform" rating in a report on Thursday, September 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cloudflare in a research note on Friday, July 17th. Wells Fargo & Company increased their price target on Cloudflare from $300.00 to $380.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Benchmark cut Cloudflare to an "underperform" rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, Cloudflare has a consensus rating of "Moderate Buy" and an average price target of $330.59.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,383 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $283.42, for a total transaction of $14,846,389.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 dated Wednesday, August 19th. The shares were sold at an average price of $294.63, for a total value of $9,723,673.89. Following the sale, the insider owned 69,775 shares of the company's stock, valued at approximately $20,557,808.25. This represents a 32.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 458,839 shares of company stock worth $138,172,392. 10.66% of the stock is currently owned by company insiders.

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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