Cloudflare, Inc. $NET Stock Holdings Boosted by Berkshire Capital Holdings Inc.

Key Points

• Berkshire Capital Holdings Inc. has increased its holdings in Cloudflare, Inc. by 26.0%, making Cloudflare its 5th largest position with approximately $12.58 million in value.
• Insider trading activity includes Michelle Zatlyn selling 25,641 shares for nearly $4.89 million, reducing her ownership by 80.05%.
• Analysts have varied ratings for Cloudflare, with a consensus rating of "Moderate Buy" and a target price averaging $186.88, reflecting optimistic growth projections.

Berkshire Capital Holdings Inc. raised its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 26.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,620 shares of the company's stock after purchasing an additional 23,050 shares during the quarter. Cloudflare accounts for about 6.0% of Berkshire Capital Holdings Inc.'s investment portfolio, making the stock its 5th largest position. Berkshire Capital Holdings Inc.'s holdings in Cloudflare were worth $12,578,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NET. Fred Alger Management LLC boosted its position in shares of Cloudflare by 856.3% during the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock worth $100,604,000 after acquiring an additional 836,591 shares during the last quarter. Nuveen LLC bought a new stake in shares of Cloudflare in the 1st quarter valued at approximately $88,203,000. American Century Companies Inc. boosted its stake in Cloudflare by 34.5% during the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after buying an additional 779,819 shares during the period. Raymond James Financial Inc. grew its holdings in Cloudflare by 129.7% during the 1st quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company's stock valued at $123,647,000 after purchasing an additional 619,526 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Cloudflare by 1.8% in the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock worth $3,475,011,000 after buying an additional 538,850 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Trading Down 1.8%

Shares of NET traded down $3.5870 during trading on Wednesday, reaching $192.9230. 3,190,602 shares of the company traded hands, compared to its average volume of 3,636,197. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. The stock has a 50-day simple moving average of $192.56 and a 200-day simple moving average of $155.70. Cloudflare, Inc. has a twelve month low of $74.88 and a twelve month high of $219.00. The stock has a market cap of $67.23 billion, a PE ratio of -567.42 and a beta of 1.84.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. The business had revenue of $512.32 million during the quarter, compared to analysts' expectations of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The company's revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Douglas James Kramer sold 3,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $198.22, for a total transaction of $594,660.00. Following the completion of the transaction, the insider owned 157,377 shares in the company, valued at approximately $31,195,268.94. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 59,130 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the sale, the chief financial officer owned 241,550 shares of the company's stock, valued at $48,382,465. This represents a 19.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 484,000 shares of company stock valued at $90,260,330. 10.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NET has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target on shares of Cloudflare from $225.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley lifted their price objective on shares of Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Cantor Fitzgerald increased their price target on Cloudflare from $162.00 to $199.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Susquehanna lowered their price objective on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Finally, Piper Sandler increased their price target on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $191.28.

Cloudflare Company Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.